ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A serial entrepreneur is someone who starts multiple businesses. They may sell or step back from one business before starting another, or they may run multiple businesses simultaneously, delegating leadership roles to other people.

Detailed explanation-2: -For example, a serial entrepreneur might start a business venture right out of college. They grow that business’s value for a few years, then sell it to another executive and start a new business because they had another great idea. This highlights the typical economic pattern for most serial entrepreneurs.

Detailed explanation-3: -The study identifies three types of serial entrepreneurial behaviour namely venture repeaters, organic serials and serial dealmakers, distinguished by the motivations and the methods used to develop their ventures.

Detailed explanation-4: -The term “entrepreneur” is essentially synonymous with being a business owner. However, a serial entrepreneur takes things to the next level, as they often start many businesses in a row, regardless of if they’re successful or not. Some highly successful businesspeople are serial entrepreneurs, like Elon Musk.

Detailed explanation-5: -Coasting, opportunity comes to them (or it doesn’t) Conservative (very moderate use of resources, protecting existing resources) Aggressive (proactive, all-in, actively seeks opportunity) Innovator/Revolutionary (attains growth through innovation)