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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The entrepreneur manages the day to day operations of a business.
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The entrepreneur is able to take calculated risks.
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The entrepreneur drives the entrepreneurship.
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The entrepreneur is employed by another person.
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Detailed explanation-1: -The correct answer is B. An entrepreneur is defined as an individual who creates and funds a new business and continues to bear the risks incurred during the business operations while enjoying the rewards.
Detailed explanation-2: -An entrepreneur takes a new business idea and starts a company to bring that idea to market. An intrapreneur is an employee who channels that same creativity and innovation to develop new products and services-and sometimes even markets-for an employer.
Detailed explanation-3: -(ii) According to Ricardo Cantillon “Entrepreneurship entails bearing the risk of buying at a certain price and selling at uncertain prices.” (iii) In the words of Joseph A.
Detailed explanation-4: -Coasting, opportunity comes to them (or it doesn’t) Conservative (very moderate use of resources, protecting existing resources) Aggressive (proactive, all-in, actively seeks opportunity) Innovator/Revolutionary (attains growth through innovation)