Which of the following is classified as an entrepreneur?

• A. A manager promoted within a corporation
• B. A student starting a small side business
• C. An owner-manager who bought out the founder of a firm
• D. A contractor who offers services

Answer: (C)

Entrepreneurship centers on owning and operating a business, taking on risk to pursue opportunities. An owner-manager who bought out the founder clearly demonstrates both ownership and ongoing management of a firm, making strategic decisions, steering resources, and assuming the financial risk of growth. This combination—owning the enterprise and actively directing it—best illustrates the entrepreneurial role in bringing a business vision to life.

The other scenarios differ in key ways. A manager promoted within a corporation remains an employee, running operations inside an existing company rather than creating or owning a separate business. A student starting a small side business shows initiative and entrepreneurial spirit, but the emphasis is on starting something small rather than owning and leading a firm on an ongoing basis. A contractor who offers services may operate independently, but simply providing services does not guarantee ownership of a business or the ongoing leadership that defines entrepreneurship.