INTRODUCTION TO ENTREPRENEURSHIP
CHARACTERISTICS OF AN ENTREPRENEUR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Yes, entrepreneurs should be risk-averse.
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No, entrepreneurs should rely on others to organize the business.
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No, entrepreneurs must be risk-takers who take initiative and have excellent organizational skills.
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Yes, all you need is good organizational skills.
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Detailed explanation-1: -If you possess excellent organizational skills, but are risk-averse and do not like taking initiative, would being an entrepreneur be a good profession for you? Yes, all you need is good organizational skills.
Detailed explanation-2: -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-3: -An entrepreneur, by definition, is risk taker and not risk shirker. They are always prepared for assuming losses that may arise on account of new ideas and projects undertaken. This willingness to take risks allows an entrepreneur to take initiatives in doing new things and marching ahead in their efforts.
Detailed explanation-4: -Benefits of Taking Risks as an Entrepreneur Risk-taking shows a team that the entrepreneur is a true business visionary and leader who believes in the potential reward on the other side. Risk-taking enables and encourages innovation, which can be an important product/service differentiator.
Detailed explanation-5: -Don’t take ‘no’ for an answer. Learn from the best. Stay hungry and ambitious. Never stand still; evolve with the times. Nurture long-term business relationships. Inspire those around you. Trust your gut instinct, not just your spreadsheet!