BUSINESS ADMINISTRATION
ENTREPRENEURIAL DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Risk assumption function
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Managerial function
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Function if innovation
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Decision making function
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Detailed explanation-1: -’Bear the sense of responsibility’ reflects ‘risk bearing’ capacity and it is most important function of an entrepreneur.
Detailed explanation-2: -Successful innovation allows you to add value to your business so that you can increase your profits-if you don’t innovate well, your business will plateau. 2. Innovation helps you stay ahead of the competition. With globalization and a rapidly changing market, there are more competing businesses than ever before.
Detailed explanation-3: -Innovation is highly important in entrepreneurship. In the strongly competitive world that we live in, innovative ideas are what will differentiate you from the rest. And innovation keeps a company relevant over a longer period of time.
Detailed explanation-4: -Entrepreneurs are important to market economies because they can act as the wheels of the economic growth of the country. By creating new products and services, they stimulate new employment, which ultimately results in the acceleration of economic development.