INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Only the parts of the business they like
|
|
|
No parts of the business management
|
|
|
all parts of business:finance, marketing, etc.
|
|
|
None of the above
|
Detailed explanation-1: -A great entrepreneur must be able to effectively communicate, sell, focus, learn, and strategize. An ability to continuously learn is not just a key entrepreneurial skill, but also a very valuable life skill. Growing a business requires a sound strategy based on inherent business sense and skills.
Detailed explanation-2: -William Sahlman, professor at Harvard Business School, talks about the four key elements of an entrepreneurial venture: 1) People, 2) Opportunity, 3) Context and 4) Deal.
Detailed explanation-3: -It is useful to break the entrepreneurial process into five phases: idea generation, opportunity evaluation, planning, company formation/launch and growth. These phases are summarized in this table, and the Opportunity Evaluation and Planning steps are expanded in greater detail below.
Detailed explanation-4: -Operational Planning. “Operational plans are about how things need to happen, ‘’ motivational leadership speaker Mack Story said at LinkedIn. Strategic Planning. “Strategic plans are all about why things need to happen, ‘’ Story said. Tactical Planning. Contingency Planning. 07-Jul-2017