ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -An intrapreneur is an employee who is tasked with developing an innovative idea or project within a company. The intrapreneur may not face the outsized risks or reap the outsized rewards of an entrepreneur; however, the intrapreneur has access to the resources and capabilities of an established company.

Detailed explanation-2: -Small business owner: A small business owner is an individual who establishes and manages a busi-ness for the principal purpose of furthering personal goals. The business must be the primary source of income and will consume the majority of one’s time and resources.

Detailed explanation-3: -Presence of an entrepreneur: More than an entrepreneur, there is a forerunner in every business. This person is responsible for taking the initiative of establishing, running and growing the business, making key decisions and undertaking the risks involved with it.

Detailed explanation-4: -Professional Entrepreneur: A professional entrepreneur sells out the running business and starts another venture with the sales proceeds.

Detailed explanation-5: -Intrapreneurs typically work for large corporations that have the resources to give them the freedom and funding to try to create these innovations. Along with being provided with financial and other resources, they are often allowed and encouraged to work outside the usual corporate structure.