ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Innovative entrepreneur is one who is always focussed on introducing a new project or introducing something new in the venture already started. They constantly observe the environment around them; collect information and analyse them in order to contribute something a new in the venture.

Detailed explanation-2: -An entrepreneur is an innovator or a creator who introduces something new to the firm or economy. It can be a new method of production, a new product, a new source of material, a new market or any other similar innovation.

Detailed explanation-3: -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-4: -A startup company is a newly formed business with particular momentum behind it based on perceived demand for its product or service. The intention of a startup is to grow rapidly as a result of offering something that addresses a particular market gap.

Detailed explanation-5: -Coasting, opportunity comes to them (or it doesn’t) Conservative (very moderate use of resources, protecting existing resources) Aggressive (proactive, all-in, actively seeks opportunity) Innovator/Revolutionary (attains growth through innovation)