Which term labels the people who start and manage a business venture?

• A. Leaders
• B. Entrepreneurs
• C. Investors
• D. Managers

Answer: (B)

Starting and running a new business hinges on the ability to spot opportunities, assemble resources, and take on the risks to turn an idea into a real venture. This is what an entrepreneur does. They identify a market need, develop a plan, mobilize people and funds, and guide the venture through its early growth. Leaders can guide others, but they aren’t defined by starting a business. Investors provide money, not daily management. Managers run operations within an existing organization rather than launching a new one. So the term that best fits people who start and manage a business venture is entrepreneurs.