ENTREPRENEURSHIP

Detailed explanation-1: -Entrepreneurs are important to market economies because they can act as the wheels of the economic growth of the country. By creating new products and services, they stimulate new employment, which ultimately results in the acceleration of economic development.

Detailed explanation-2: -Entrepreneurs are problem solvers who offer solutions using creativity or innovative ventures that exploit opportunities. This chapter focuses on different approaches to problem solving and need recognition that help potential entrepreneurs come up with ideas and refine those ideas.

Detailed explanation-3: -Those with good problem solving ability will move the business forward more effectively. Those lacking problem solving ability will inevitably recommend ineffective solutions to key business issues, solutions which will either fail to resolve the underlying issue or indeed exasperate it.

Detailed explanation-4: -A great entrepreneur must be able to effectively communicate, sell, focus, learn, and strategize. An ability to continuously learn is not just a key entrepreneurial skill, but also a very valuable life skill.