In the context of business, what does 'entrepreneur' refer to?

The term 'entrepreneur' refers specifically to a person who takes the initiative to start and run their own business. This definition encapsulates the essence of entrepreneurship, which involves identifying a market opportunity, organizing resources, and taking the necessary risks to establish and manage a new enterprise. Entrepreneurs are often characterized by their drive to innovate and create value in the marketplace, often working independently or with a small team to develop their ideas into viable businesses.

In contrast, other roles listed, such as a business employee, corporate investor, or management consultant, involve different functions within established organizations or investment frameworks and do not possess the same level of ownership and risk associated with entrepreneurship. Business employees work for others, corporate investors may provide funding without being involved in daily operations, and management consultants typically advise companies on improving efficiency and operations rather than start their own businesses. Thus, 'entrepreneur' distinctly refers to those who independently create and manage their businesses, aligning with the chosen answer.