INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Entrepreneurs discover opportunities when they search for them in the existing markets. This means that they observe technological, economic, or social trends. They observe the changing environment and events in their professional or daily life.
Detailed explanation-2: -What is opportunism in business? Or to be safe, what is opportunity-seeking in business? It means being alert to opportunities that come the entrepreneur’s way. It also means actively looking and going after ideas which can be turned into opportunities.
Detailed explanation-3: -An entrepreneur always has the eyes open for new opportunities and most importantly acting on them. The entrepreneur is never disheartened by failures. The entrepreneur’s main job when it comes to competition is to be able to persist in aiming and taking actions for the firm’s growth.