ECONOMICS
TECHNOLOGY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Entrepreneurship refers to the ability to
|
|
Manage other people
|
|
|
Adapt technology
|
|
|
Start new businesses, introduce new products and processes, and improve management techniques
|
|
|
Borrow capital successfully and expand an existing business to meet customer demand.
|
Explanation:
Detailed explanation-1: -Essentially, entrepreneurship is the process of developing, organizing, and running a new business to generate profit while taking on financial risk.
Detailed explanation-2: -Joseph A. Schumpeter, “Entrepreneur is a person who foresees the opportunity and try to exploit it by introducing a new product, a new method of production, new market, new source of raw material or new combination of factors of production.”
Detailed explanation-3: -Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make a profit. The most prominent example of entrepreneurship is the starting of new businesses.
There is 1 question to complete.