Define entrepreneurship and explain its significance in economic life.

The image shows a textbook chapter titled "Work, Entrepreneurship and Social Security" under the main heading "Religion and Economic Life".

Here is a note on entrepreneurship:

Entrepreneurship is the process of designing, launching, and running a new business, often starting as a small business, and taking on financial risks in the hope of profit. It involves identifying opportunities, innovating, and bringing new products, services, or methods to the market. Entrepreneurs are key drivers of economic growth, job creation, and societal development.