INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
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Goal oriented
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Future oriented
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Responds to feedback
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Profit oriented
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Detailed explanation-1: -For many companies, revenues are generated from the sales of products or services. For this reason, revenue is sometimes known as gross sales. Revenue can also be earned via other sources. Inventors or entertainers may receive revenue from licensing, patents, or royalties.
Detailed explanation-2: -An entrepreneur is a person who starts and manages a new business, taking on financial or personal risk in the process. Entrepreneurs can be small business owners, content creators, startup founders, or anyone who has the ambition to build a business and work for themselves.
Detailed explanation-3: -Definition of Profitability Profitability is the ability of a business to earn a profit.
Detailed explanation-4: -Prepare a budget. Focus on your profit margins. Review your business’s bottom line performance. Benchmark your business’s performance. Assess the effectiveness of cost management measures. Evaluate business productivity. Develop new business strategies. Reduce your error rate. 20-Dec-2021