Final answer:
An entrepreneur is a person who takes the initiative to start their own business and is willing to take risks. Small business management involves effectively running and overseeing the operations of a small business.
Step-by-step explanation:
An entrepreneur is a person who takes the initiative to start their own business and is willing to take risks in order to succeed. They are individuals who are innovative and willing to think outside the box to create new products, services, or business models.
In my personal experience, I know an entrepreneur named John. He decided to follow an independent business career because he had a passion for a specific product that he believed could fill a gap in the market. He saw an opportunity to offer a unique solution and decided to take the risk and start his own business.
Small business management is the process of effectively running and overseeing the operations of a small business. It involves tasks such as planning, organizing, staffing, and controlling to ensure the business is operating efficiently and achieving its goals. This includes managing resources, employees, finances, marketing, and other aspects of the business.