ENTREPRENEURSHIP

Detailed explanation-1: -Execution risk relates to the entrepreneur’s ability to attract employees and partners who can implement the venture’s plans. Financing risk relates to whether external capital will be available on reasonable terms.

Detailed explanation-2: -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.

Detailed explanation-3: -While there is no magic formula for beings a successful entrepreneur, those who do succeed tend to have mastered the following set of skills: good and effective communication; being able to sell both themselves and their idea or product; strong focus; eagerness to learn and be flexible; and a solid business plan.

Detailed explanation-4: -Entrepreneurs discover opportunities when they search for them in existing markets. This means they observe technological, economic or social trends. Recognising opportunities is a cognitive process. It relies on the ability of people to recognise patterns and connect the dots.