BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Starting and operating a business
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The process of applying for a loan
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The formal name of closing a business
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Teaching a younger person a trade
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Detailed explanation-1: -An entrepreneur is an individual who starts and runs a business with limited resources and planning, and is responsible for all the risks and rewards of their business venture. The business idea usually encompasses a new product or service rather than an existing business model.
Detailed explanation-2: -An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
Detailed explanation-3: -SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT analysis is a technique for assessing these four aspects of your business. SWOT Analysis is a tool that can help you to analyze what your company does best now, and to devise a successful strategy for the future.
Detailed explanation-4: -A SWOT analysis helps you assess internal factors that might affect your business (strengths and weaknesses) and external factors (opportunities and threats). You will need to review and act on the results from the SWOT analysis.