ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Successful entrepreneurship involves taking risks. Countless entrepreneurs have taken risks to get their businesses to where they are now.

Detailed explanation-2: -While most entrepreneurs do likely have a risk tolerance that’s greater than average, most are not wild risk takers–they are actually risk managers.

Detailed explanation-3: -But research indicates that most successful entrepreneurs share certain personal attributes, including creativity, dedication, determination, flexibility, leadership, passion, self-confidence, and “smarts". Creativity is the spark that drives the development of new products, services, or ways to do business.

Detailed explanation-4: -Successful entrepreneurs accept the risk of failure. An entrepreneurial team is a group of experienced managers who share the same skills and abilities. Micropreneurs is a term used to describe entrepreneurs who focus on the continued growth of their businesses.