ENTREPRENEURSHIP

Detailed explanation-1: -Becoming an entrepreneur calls for taking an active role in the business’s financial planning. Entrepreneurs may use their own money or external funding to launch their businesses. Doing so means assuming some financial risk, so successful entrepreneurs will assess that risk and create a financial plan accordingly.

Detailed explanation-2: -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-3: -Risk-taking in entrepreneurship is the process of identifying, evaluating, mitigating, and trying out potential opportunities and strategies that may help you build or grow your business but could also lead to personal or professional loss.

Detailed explanation-4: -Successful entrepreneurs are characterised by their ability to take risks in order to generate innovations. By exercising judgement, they develop those innovations into viable businesses. Entrepreneur: Innovator and Risk-taker focuses on how entrepreneurs generate the ideas to create and grow their firm.