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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Entrepreneurs are tenacious.
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Entrepreneurs are moderate risk takers.
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Entrepreneurs should be young and energetic.
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Entrepreneurs love the spotlight.
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Detailed explanation-1: -The correct answer is B) Entrepreneurs are moderate risk takers. Among the five entrepreneurship myths, choice ‘B’ is invalid because it is a fact but not a myth. Entrepreneurs are moderate risk-takers because they invest in their business, expecting to make losses or profits.
Detailed explanation-2: -Thus, External Locus of control is not a characteristic of entrepreneur.
Detailed explanation-3: -Entrepreneur is often aware of the business environment with immense product knowledge, the acceptance of the product or service is known by the feedback of the same, and desire for immediate feedback is not a typical characteristic of an entrepreneur.
Detailed explanation-4: -Social entrepreneurship. Scalable startup entrepreneurship. Small business entrepreneurship. Large company entrepreneurship. Innovation entrepreneurship. 21-Jan-2022
Detailed explanation-5: -Humility and self-awareness. Customer orientated. Cost efficient. Highly adaptable and future orientated. Risk-taker and not afraid of failure.