Which statement best defines entrepreneurship?

• A. A government subsidy program
• B. The act of hiring multiple executives
• C. Process of planning, organizing, operating, and assuming risk of a business
• D. A method of corporate social responsibility

Answer: (C)

Entrepreneurship involves creating a new business opportunity and turning it into a viable venture by planning, organizing resources, operating the venture, and taking on the risks to deliver value. The statement that outlines planning, organizing, operating, and assuming risk of a business matches this activity, making it the best definition. External subsidies, hiring a lot of executives, or pursuing corporate social responsibility describe other kinds of activities, not the process of creating and running a new enterprise.