ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -Becoming an entrepreneur offers personal and professional freedom, including the chance to manage work-life balance and make decisions about a company’s future. Running a business does come with risks, including those related to market and economic trends, finances and technology.

Detailed explanation-3: -The Merriam-Webster Dictionary defines an entrepreneur as: “one who organizes, manages and assumes the risk of a business or enterprise".

Detailed explanation-4: -The entrepreneur defined An entrepreneur is defined as “one who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them” (Kuratko, 2008).

Detailed explanation-5: -Innovative entrepreneurs are people who are constantly coming up with new ideas and inventions. They take these ideas and turn them into business ventures.