Topic notes
Entrepreneurship recognises an opportunity and organises resources under uncertainty to create value. Functions include innovation, coordination and risk-bearing. It can contribute to development, but success is never guaranteed.
Applied example
A reusable lunch-box service may reduce packaging, but demand, cleaning costs and logistics need testing.
Case study and practice
- Identify the opportunity or business issue.
- Name one assumption and evidence that could test it.
- Recommend an action, explaining its expected value and one risk.
Revision
Use an example, define the business term and distinguish assumption from evidence. Project claims should be based on research and cited sources.