What is the definition of entrepreneurship?

The definition of entrepreneurship is accurately described as the process of starting and operating your own business. This involves not only identifying a business opportunity but also taking the initiative to create and maintain a venture, which includes planning, organizing, financing, and managing resources. Entrepreneurs are typically characterized by their risk-taking behavior, innovation, and drive to bring new products or services to the market.

In this context, the other options do not capture the essence of entrepreneurship effectively. Investing in real estate, while it can be a part of entrepreneurial activity, is too narrow and specific, as entrepreneurship encompasses a wide range of industries and business types. Promoting social change can indeed be a result of entrepreneurial initiatives, particularly in social entrepreneurship, but it does not encompass the broader definition of starting and running a business. Lastly, a system of government regulation does not relate to the entrepreneurial spirit or the activities involved in creating and running a business, but rather deals with the guidelines and restrictions that govern business operations.