ENTREPRENEURSHIP

Detailed explanation-1: -An entrepreneur is an individual who takes the risk to start their own business based on an idea they have or a product they have created while assuming most of the risks and reaping most of the rewards of the business.

Detailed explanation-2: -An entrepreneur is an individual who starts and runs a business with limited resources and planning, and is responsible for all the risks and rewards of their business venture.

Detailed explanation-3: -An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change. Entrepreneurship is the process of discovering new ways of combining resources.

Detailed explanation-4: -Entrepreneurs face multiple risks such as bankruptcy, financial risk, competitive risks, environmental risks, reputational risks, and political and economic risks. Entrepreneurs must plan wisely in terms of budgeting and show investors that they are considering risks by creating a realistic business plan.

Detailed explanation-5: -Entrepreneurs take risks because they’re necessary to start and grow a business. Some of the risks an entrepreneur might face include: Leaving a full-time job and steady paycheck. Using personal savings with no guarantee of a return on investment.