ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Is willing to take a risk in the hunt for new business opportunities
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Is active in their community and encourages business owners
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Works for a large company creating new products
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Provides entertainment to people in a variety of ways
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Detailed explanation-1: -What Does It Mean to Be an Entrepreneur? An entrepreneur is an individual who takes the risk to start their own business based on an idea they have or a product they have created while assuming most of the risks and reaping most of the rewards of the business.
Detailed explanation-2: -An entrepreneur is someone who has an idea and who works to create a product or service that people will buy, as well as an organization to support that effort. An entrepreneur takes on most of the risk and initiative for their new business, and is often seen as a visionary or innovator.
Detailed explanation-3: -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-4: -Joseph Schumpeter describes an entrepreneur as “a person who is willing and able to convert a new idea or invention into a successful innovation". Entrepreneurship employs what Schumpeter called the gale of creative destruction.