ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A persistent entrepreneur immediately quits from the business venture after experiencing failure. It refers to the setting of goals and objectives. This cluster includes a set of character trait that reflect the degree of the interpersonal relations maintained by successful entrepreneurs in the community.

Detailed explanation-2: -Entrepreneurial persistence is demonstrated by an entrepreneur’s continued positive maintenance of entrepreneurial motivation and constantly-renewed active engagement in a new business venture despite counter forces or enticing alternatives.

Detailed explanation-3: -Successful entrepreneurs learn from their failures in business. When it comes to the entrepreneurial journey, learning is the pathway to success. That learning usually comes from failure. No entrepreneur likes to fail, but the fact is most do.

Detailed explanation-4: -Every successful entrepreneur has experienced failure. Failures of all sizes provide a valuable benefit–they help to develop an entrepreneurial mindset that allows us to keep pushing forward. It’s the equivalent of getting knocked down in the boxing ring and bouncing back up, ready for more.

Detailed explanation-5: -For the founders who had come out of a failed startup, there was a preference for corporate jobs rather than starting a new venture. Statistically, 41% of the founders transitioned into a corporate job, while 33% went on to found another startup.