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: -An entrepreneur is a person who identifies an opportunity, converts it into a product or service, estimates earnings and profit and builds a successful business with it. A technopreneur starts out with nothing but an “idea’. He defies existing practices and systems and thinks of doing things differently.
Detailed explanation-2: -Their similarities are: Both entrepreneurs and technopreneurs Recognize problems and give answers to them. This can be a new product, service or process. Both entrepreneur and technopreneur is capable of determining risk and has the bravery to take risks but is not a gambler.
Detailed explanation-3: -Myth II: Entrepreneurs are gamblers; The second myth about entrepreneurs is that they are gamblers and take big risks. The truth is, entrepreneurs are usually moderate risk-takers, as are most people. The idea that entrepreneurs are gamblers originates from two sources.