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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ture
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false
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Either A or B
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None of the above
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Detailed explanation-1: -According to Schumpeter, entrepreneurs take the stationary economy to a new level of development by adding innovation and creativity of their own. Schumpeter also stated that entrepreneurs bring innovation in two ways namely: By reducing the cost of production. By increasing the demand for certain products.
Detailed explanation-2: -To be an entrepreneur, a great idea is the only ingredient: A good or great idea shall remain an idea unless there is proper combination of all the resources including management.
Detailed explanation-3: -Definition of Entrepreneur An innovator, who has a thought-provoking idea or concept in his/her mind, that has the capability to lead the marketplace. A developer, who develops a business model, to give shape to the idea.
Detailed explanation-4: -Anything is possible. Hard work pays off–even if it takes years to see it. It doesn’t have to be perfect. You can’t do everything alone. Risks are necessary. Perspective and experience matter. There’s always more to learn. More items •01-Dec-2016