INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Drive for the Achievement
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Desire for Responsibility
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Willingness to Take Risks
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Drive and Dynamism
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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: -Theorists Frank Knight and Peter Drucker defined entrepreneurship in terms of risk-taking. The entrepreneur is willing to put his or her career and financial security on the line and take risks in the name of an idea, spending time as well as capital on an uncertain venture.
Detailed explanation-3: -Initiating and leading business activities. Allocating employees’ duties. Forecasting business changes. Creating jobs. Identifying business opportunities. Creating and sharing wealth. Improving the standard of living. Taking up and reducing business risk. More items •20-Feb-2023