ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Entrepreneurs are considered serial decision makers because they make lots of decisions every day and are generally wired to be risk takers and aren’t afraid of learning from their mistakes. Decision-making usually comes easier to entrepreneurs and high “D” personalities versus people who tend to be more risk averse.

Detailed explanation-2: -Need for autonomy definition The need to make their own decisions and do what they want is very strong. Successful entrepreneurs have a desire to be autonomous. They can act independently of others, make their own decisions, love problem solving, and successfully complete their tasks on their own.

Detailed explanation-3: -It means business owners have the flexibility to decide where and what their business will be, how they want to run it and grow it. It means that the owner gets to make the decisions all on his/her own. Freedom.

Detailed explanation-4: -Whether to act on their idea. Whether to give up or persist in the face of failure. Which experts to consult. What the core values of their company will be. Whether to seek external investment or not. Their ideal customer. How they’ll price their products. More items •19-Jul-2021