ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Skills management
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Risk taking
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Conduct research
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Make no changes with his product
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Detailed explanation-1: -While, an entrepreneur needs to be innovative while planning and deciding upon business activities as to fulfill the public demand but, it is not his duty to innovate new technology or products. Thus, innovation is not a function to be performed rather an essential characteristic of a successful entrepreneur.
Detailed explanation-2: -The four functions of an entrepreneur are – Innovation & creativity, Risk taking and achievement, organization & management and other functions.
Detailed explanation-3: -Hence, bearing risk is the key function of an entrepreneur.
Detailed explanation-4: -Ans: (d) Planning Q 29: “ This Function of an entrepreneur is concerned with manpower planning, recruitment, selection and placements of manpower, human resources development, promotion, transfer, appraisal and determination of employee’s remuneration.”. ”.
Detailed explanation-5: -Which of the following is not one of the four steps of the entrepreneurial process? Determining how to seize the spotlight.