INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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is willing to attempt implementing a business concept and then gives up of it does not meet immediate expectations
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understands the process of developing an idea and does not need to understand what it means to bring that idea to a viable business concept
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knows that the concept he is develop will result in a profitable business
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creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunities
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Detailed explanation-1: -"An entrepreneur is one who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them."
Detailed explanation-2: -An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
Detailed explanation-3: -Entrepreneurship Accelerates Economic Growth Entrepreneurs are important to market economies because they can act as the wheels of the economic growth of the country. By creating new products and services, they stimulate new employment, which ultimately results in the acceleration of economic development.
Detailed explanation-4: -Meaning of Entrepreneur An entrepreneur is an individual having an exclusive idea to establish and initiate a new venture and bring a change in the world. An entrepreneur is highly innovative and creative, takes a risk, and endures unpredictable situations in the business.
Detailed explanation-5: -The person who creates a new enterprise and embraces every challenge for its development and operation is known as an entrepreneur. And the undertaking or organisation, typically a startup company, set up by the entrepreneur is called enterprise.