Entrepreneurship is the process of designing and running a new business, initially a small business. The people who create these businesses are called entrepreneurs. Entrepreneurship has been described as the "capacity and willingness to develop and manage a business venture along with any of its risks in order to make a profit". While definitions of entrepreneurship focus on the launching and running of businesses, due to the high risks involved in launching a start-up, a significant proportion of start-up businesses have to close due to "lack of funding, bad business decisions, an economic crisis, lack of market demand—or a combination of all of these. A broader definition of the term is sometimes used in the field of economics. In this usage, an Entrepreneur is an entity which has the ability to find and act upon opportunities to translate inventions or technology into new products: "The entrepreneur is able to recognize the commercial potential of the invention and organize the capital and other resources that turn an invention into a commercially viable innovation."
In this sense, the term "Entrepreneurship" captures innovative activities on the part of established firms, in addition to similar activities on the part of new businesses. Entrepreneurship is the act of being an entrepreneur, or "the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits". Entrepreneurs oversee the launch and growth of an enterprise. Entrepreneurship is the process by which either an individual or a team identifies a business opportunity and acquires and deploys the necessary resources required for its exploitation. Early-19th-century French economist Jean-Baptiste Say provided a broad definition of entrepreneurship, saying that it "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield". Entrepreneurs create something new, something different—they change or transmute values. Regardless of the firm size, big or small, they can partake in entrepreneurship opportunities; the opportunity to become an entrepreneur requires four criteria.
First, there must be situations to recombine resources to generate profit. Second, entrepreneurship requires differences between people, such as preferential access to certain individuals or the ability to recognize information about opportunities. Third, taking on risk is a necessity. Fourth, the entrepreneurial process requires the organization of resources; the entrepreneur is a factor in and the study of entrepreneurship reaches back to the work of Richard Cantillon and Adam Smith in the late 17th and early 18th centuries. However, entrepreneurship was ignored theoretically until the late 19th and early 20th centuries and empirically until a profound resurgence in business and economics since the late 1970s. In the 20th century, the understanding of entrepreneurship owes much to the work of economist Joseph Schumpeter in the 1930s and other Austrian economists such as Carl Menger, Ludwig von Mises and Friedrich von Hayek. According to Schumpeter, an entrepreneur is a person, willing and able to convert a new idea or invention into a successful innovation.
Entrepreneurship employs what Schumpeter called "the gale of creative destruction" to replace in whole or in part inferior innovations across markets and industries creating new products including new business models. In this way, creative destruction is responsible for the dynamism of industries and long-run economic growth; the supposition that entrepreneurship leads to economic growth is an interpretation of the residual in endogenous growth theory and as such is hotly debated in academic economics. An alternative description posited by Israel Kirzner suggests that the majority of innovations may be much more incremental improvements such as the replacement of paper with plastic in the making of drinking straws; the exploitation of entrepreneurial opportunities may include: Developing a business plan Hiring the human resources Acquiring financial and material resources Providing leadership Being responsible for both the venture's success or failure Risk aversionEconomist Joseph Schumpeter saw the role of the entrepreneur in the economy as "creative destruction" – launching innovations that destroy old industries while ushering in new industries and approaches.
For Schumpeter, the changes and "dynamic disequilibrium brought on by the innovating entrepreneur the norm of a healthy economy". While entrepreneurship is associated with new, for-profit start-ups, entrepreneurial behavior can be seen in small-, medium- and large-sized firms and established firms and in for-profit and not-for-profit organizations, including voluntary-sector groups, charitable organizations and government. Entrepreneurship may operate within an entrepreneurship ecosystem which includes: Government programs and services that promote entrepreneurship and support entrepreneurs and start-ups Non-governmental organizations such as small-business associations and organizations that offer advice and mentoring to entrepreneurs Small-business advocacy organizations that lobby governments for increased support for entrepreneurship programs and more small business-friendly laws and regulations Entrepreneurship resources and facilities Entrepreneurship education and training programs offered by schools and universities Financing In the 2000s, usage of the term "entrepreneurship" expanded to include how and why some individuals ide
Denmark the Kingdom of Denmark, is a Nordic country and the southernmost of the Scandinavian nations. Denmark lies southwest of Sweden and south of Norway, is bordered to the south by Germany; the Kingdom of Denmark comprises two autonomous constituent countries in the North Atlantic Ocean: the Faroe Islands and Greenland. Denmark proper consists of a peninsula, an archipelago of 443 named islands, with the largest being Zealand and the North Jutlandic Island; the islands are characterised by flat, arable land and sandy coasts, low elevation and a temperate climate. Denmark has a total area of 42,924 km2, land area of 42,394 km2, the total area including Greenland and the Faroe Islands is 2,210,579 km2, a population of 5.8 million. The unified kingdom of Denmark emerged in the 10th century as a proficient seafaring nation in the struggle for control of the Baltic Sea. Denmark and Norway were ruled together under one sovereign ruler in the Kalmar Union, established in 1397 and ending with Swedish secession in 1523.
The areas of Denmark and Norway remained under the same monarch until Denmark -- Norway. Beginning in the 17th century, there were several devastating wars with the Swedish Empire, ending with large cessions of territory to Sweden. After the Napoleonic Wars, Norway was ceded to Sweden, while Denmark kept the Faroe Islands and Iceland. In the 19th century there was a surge of nationalist movements, which were defeated in the 1864 Second Schleswig War. Denmark remained neutral during World War I. In April 1940, a German invasion saw brief military skirmishes while the Danish resistance movement was active from 1943 until the German surrender in May 1945. An industrialised exporter of agricultural produce in the second half of the 19th century, Denmark introduced social and labour-market reforms in the early 20th century that created the basis for the present welfare state model with a developed mixed economy; the Constitution of Denmark was signed on 5 June 1849, ending the absolute monarchy, which had begun in 1660.
It establishes a constitutional monarchy organised as a parliamentary democracy. The government and national parliament are seated in Copenhagen, the nation's capital, largest city, main commercial centre. Denmark exercises hegemonic influence in the Danish Realm, devolving powers to handle internal affairs. Home rule was established in the Faroe Islands in 1948. Denmark negotiated certain opt-outs, it is among the founding members of NATO, the Nordic Council, the OECD, OSCE, the United Nations. Denmark is considered to be one of the most economically and developed countries in the world. Danes enjoy a high standard of living and the country ranks in some metrics of national performance, including education, health care, protection of civil liberties, democratic governance and human development; the country ranks as having the world's highest social mobility, a high level of income equality, is among the countries with the lowest perceived levels of corruption in the world, the eleventh-most developed in the world, has one of the world's highest per capita incomes, one of the world's highest personal income tax rates.
The etymology of the word Denmark, the relationship between Danes and Denmark and the unifying of Denmark as one kingdom, is a subject which attracts debate. This is centered on the prefix "Dan" and whether it refers to the Dani or a historical person Dan and the exact meaning of the -"mark" ending. Most handbooks derive the first part of the word, the name of the people, from a word meaning "flat land", related to German Tenne "threshing floor", English den "cave"; the -mark is believed to mean woodland or borderland, with probable references to the border forests in south Schleswig. The first recorded use of the word Danmark within Denmark itself is found on the two Jelling stones, which are runestones believed to have been erected by Gorm the Old and Harald Bluetooth; the larger stone of the two is popularly cited as Denmark's "baptismal certificate", though both use the word "Denmark", in the form of accusative ᛏᛅᚾᛘᛅᚢᚱᚴ tanmaurk on the large stone, genitive ᛏᛅᚾᛘᛅᚱᚴᛅᚱ "tanmarkar" on the small stone.
The inhabitants of Denmark are there called "Danes", in the accusative. The earliest archaeological findings in Denmark date back to the Eem interglacial period from 130,000–110,000 BC. Denmark has been inhabited since around 12,500 BC and agriculture has been evident since 3900 BC; the Nordic Bronze Age in Denmark was marked by burial mounds, which left an abundance of findings including lurs and the Sun Chariot. During the Pre-Roman Iron Age, native groups began migrating south, the first tribal Danes came to the country between the Pre-Roman and the Germanic Iron Age, in the Roman Iron Age; the Roman provinces maintained trade routes and relations with native tribes in Denmark, Roman coins have been found in Denmark. Evidence of strong Celtic cultural influence dates from this period in Denmark and much of North-West Europe and is among other things reflected in the finding of the Gundestrup cauldron; the tribal Danes came from the east Danish islands and Scania and spoke an early form of North Germanic.
Historians believe that before their arrival, most of Jutland and the nearest islands were settled by tribal J
Philanthropy means the love of humanity. A conventional modern definition is "private initiatives, for the public good, focusing on quality of life", which combines an original humanistic tradition with a social scientific aspect developed in the 20th century; the definition serves to contrast philanthropy with business endeavors, which are private initiatives for private good, e.g. focusing on material gain, with government endeavors, which are public initiatives for public good, e.g. focusing on provision of public services. A person who practices philanthropy is called a philanthropist. Philanthropy has distinguishing characteristics separate from charity. A difference cited is that charity aims to relieve the pain of a particular social problem, whereas philanthropy attempts to address the root cause of the problem—the difference between the proverbial gift of a fish to a hungry person, versus teaching them how to fish. In the second century CE, Plutarch used the Greek concept of philanthrôpía to describe superior human beings.
During the Roman Catholic Middle Ages, philanthrôpía was superseded by Caritas charity, selfless love, valued for salvation and escape from purgatory. Philanthropy was modernized by Sir Francis Bacon in the 1600s, credited with preventing the word from being owned by horticulture. Bacon considered philanthrôpía to be synonymous with "goodness", correlated with the Aristotelian conception of virtue, as consciously instilled habits of good behaviour. Samuel Johnson defined philanthropy as "love of mankind; this definition still survives today and is cited more gender-neutrally as the "love of humanity." In London prior to the 18th century and civic charities were established by bequests and operated by local church parishes or guilds. During the 18th century, however, "a more activist and explicitly Protestant tradition of direct charitable engagement during life" took hold, exemplified by the creation of the Society for the Promotion of Christian Knowledge and Societies for the Reformation of Manners.
In 1739, Thomas Coram, appalled by the number of abandoned children living on the streets of London, received a royal charter to establish the Foundling Hospital to look after these unwanted orphans in Lamb's Conduit Fields, Bloomsbury. This was "the first children's charity in the country, one that'set the pattern for incorporated associational charities' in general." The hospital "marked the first great milestone in the creation of these new-style charities."Jonas Hanway, another notable philanthropist of the era, established The Marine Society in 1756 as the first seafarer's charity, in a bid to aid the recruitment of men to the navy. By 1763, the society had recruited over 10,000 men and it was incorporated in 1772. Hanway was instrumental in establishing the Magdalen Hospital to rehabilitate prostitutes; these organizations were run as voluntary associations. They raised public awareness of their activities through the emerging popular press and were held in high social regard—some charities received state recognition in the form of the Royal Charter.
Philanthropists, such as anti-slavery campaigner William Wilberforce, began to adopt active campaigning roles, where they would champion a cause and lobby the government for legislative change. This included organized campaigns against the ill treatment of animals and children and the campaign that succeeded in ending the slave trade throughout the Empire starting in 1807. Although there were no slaves allowed in Britain itself, many rich men owned sugar plantations in the West Indies, resisted the movement to buy them out until it succeeded in 1833. Financial donations to organized charities became fashionable among the middle-class in the 19th century. By 1869 there were over 200 London charities with an annual income, all together, of about £2 million. By 1885, rapid growth had produced with an income of about £ 4.5 million. They included a wide range of religious and secular goals, with the American import, the YMCA as one of the largest, many small ones such as the Metropolitan Drinking Fountain Association.
In addition to making annual donations wealthy industrialists and financiers left generous sums in their wills. A sample of 466 wills in the 1890s revealed a total wealth of £76 million, of which £20 million was bequeathed to charities. By 1900 London charities enjoyed an annual income of about £8.5 million. Led by the energetic Lord Shaftesbury, philanthropists organized themselves. In 1869 they set up the Charity Organisation Society, it was a federation of one in each of the 42 Poor Law divisions. Its central office had experts in coordination and guidance, thereby maximizing the impact of charitable giving to the poor. Many of the charities were designed to alleviate the harsh living conditions in the slums; such as the Labourer's Friend Society founded in 1830. This included the promotion of allotment of land to labourers for "cottage husbandry" that became the allotment movement, in 1844 it became the first Model Dwellings Company—an organization that sought to improve the housing conditions of the working classes by building new homes for them, while at the same time receiving a competitive rate of return on any investment.
This was one of the first housing associations, a philanthropic endeavor that flourished in the second half of the nineteenth century, brought about by the growth of the middle class. Associations included the Peabody Trust, t
Copenhagen is the capital and most populous city of Denmark. As of July 2018, the city has a population of 777,218, it forms the core of the wider urban area of the Copenhagen metropolitan area. Copenhagen is situated on the eastern coast of the island of Zealand; the Øresund Bridge connects the two cities by road. A Viking fishing village established in the 10th century in the vicinity of what is now Gammel Strand, Copenhagen became the capital of Denmark in the early 15th century. Beginning in the 17th century it consolidated its position as a regional centre of power with its institutions and armed forces. After suffering from the effects of plague and fire in the 18th century, the city underwent a period of redevelopment; this included construction of the prestigious district of Frederiksstaden and founding of such cultural institutions as the Royal Theatre and the Royal Academy of Fine Arts. After further disasters in the early 19th century when Horatio Nelson attacked the Dano-Norwegian fleet and bombarded the city, rebuilding during the Danish Golden Age brought a Neoclassical look to Copenhagen's architecture.
Following the Second World War, the Finger Plan fostered the development of housing and businesses along the five urban railway routes stretching out from the city centre. Since the turn of the 21st century, Copenhagen has seen strong urban and cultural development, facilitated by investment in its institutions and infrastructure; the city is the cultural and governmental centre of Denmark. Copenhagen's economy has seen rapid developments in the service sector through initiatives in information technology and clean technology. Since the completion of the Øresund Bridge, Copenhagen has become integrated with the Swedish province of Scania and its largest city, Malmö, forming the Øresund Region. With a number of bridges connecting the various districts, the cityscape is characterised by parks and waterfronts. Copenhagen's landmarks such as Tivoli Gardens, The Little Mermaid statue, the Amalienborg and Christiansborg palaces, Rosenborg Castle Gardens, Frederik's Church, many museums and nightclubs are significant tourist attractions.
The largest lake of Denmark, Arresø, lies around 27 miles northwest of the City Hall Square. Copenhagen is home to the University of Copenhagen, the Technical University of Denmark, Copenhagen Business School and the IT University of Copenhagen; the University of Copenhagen, founded in 1479, is the oldest university in Denmark. Copenhagen is home to the FC Brøndby football clubs; the annual Copenhagen Marathon was established in 1980. Copenhagen is one of the most bicycle-friendly cities in the world; the Copenhagen Metro launched in 2002 serves central Copenhagen while the Copenhagen S-train, the Lokaltog and the Coast Line network serves and connects central Copenhagen to outlying boroughs. To relieve traffic congestion, the Fehmarn Belt Fixed Link road and rail construction is planned, because the narrow 9-9.5 mile isthmus between Roskilde Fjord and Køge Bugt forms a traffic bottleneck. The Copenhagen-Ringsted Line will relieve traffic congestion in the corridor between Roskilde and Copenhagen.
Serving two million passengers a month, Copenhagen Airport, Kastrup, is the busiest airport in the Nordic countries. Copenhagen's name reflects its origin as a place of commerce; the original designation in Old Norse, from which Danish descends, was Kaupmannahǫfn, meaning "merchants' harbour". By the time Old Danish was spoken, the capital was called Køpmannæhafn, with the current name deriving from centuries of subsequent regular sound change. An exact English equivalent would be "chapman's haven". However, the English term for the city was adapted from Kopenhagen. Although the earliest historical records of Copenhagen are from the end of the 12th century, recent archaeological finds in connection with work on the city's metropolitan rail system revealed the remains of a large merchant's mansion near today's Kongens Nytorv from c. 1020. Excavations in Pilestræde have led to the discovery of a well from the late 12th century; the remains of an ancient church, with graves dating to the 11th century, have been unearthed near where Strøget meets Rådhuspladsen.
These finds indicate. Substantial discoveries of flint tools in the area provide evidence of human settlements dating to the Stone Age. Many historians believe the town dates to the late Viking Age, was founded by Sweyn I Forkbeard; the natural harbour and good herring stocks seem to have attracted fishermen and merchants to the area on a seasonal basis from the 11th century and more permanently in the 13th century. The first habitations were centred on Gammel Strand in the 11thcentury or earlier; the earliest written mention of the town was in the 12th century when Saxo Grammaticus in Gesta Danorum referred to it as Portus