Entrepreneurship describes the process by which change agents undertake economic
risk to innovate—to create new products, processes, and sometimes new organizations. 13
Entrepreneurs innovate by commercializing ideas and inventions. 14 They seek out or create
new business opportunities and then assemble the resources necessary to exploit them. 15 If
successful, entrepreneurship not only drives the competitive process, it also creates value
for the individual entrepreneurs and society at large.