ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -An entrepreneurial vision considers what you want your venture to become, what this venture will look like, what the driving forces are, and what values and culture should surround it. Each individual entrepreneur has a unique picture of what the venture will become.

Detailed explanation-2: -Intrapreneurs. Some entrepreneurs don’t own their own companies but apply their creativity, vision, and risk-taking within a large corporation. Called intrapreneurs, these employees enjoy the freedom to nurture their ideas and develop new products, while their employers provide regular salaries and financial backing.

Detailed explanation-3: -Hisrich and Michael P. Peters (1998) said, “Entrepreneurship is the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic and social risks and receiving the resulting rewards of monetary and personal satisfaction and independence.”

Detailed explanation-4: -As a business owner or entrepreneur, you must assume that you’ll struggle, fail, and doubt yourself as you try to grow your business. You’ll waste a ton of time, your employees may not care, people will judge and criticize you, and you’ll likely need to seek help from a startup mentor-probably several startup mentors.