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: -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: -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-3: -An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise.