What is the process of running a business of one's own?

• A. Management
• B. Administration
• C. Venture
• D. Entrepreneurship

Answer: (D)

Entrepreneurship is the process of starting and running your own business. It centers on spotting opportunities, turning an idea into a viable product or service, assembling the necessary resources, and taking on risk to bring value to customers. It’s about creating and growing a new enterprise as the owner or founder.

Management, by contrast, focuses on directing the day-to-day operations of an existing organization, while administration involves planning and governing within established structures. A venture refers to the new business itself, but the ongoing act of building and expanding that enterprise—the entrepreneurship—drives its creation and growth.