INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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False
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True
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Either A or B
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None of the above
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Detailed explanation-1: -Today’s entrepreneur has become almost synonymous with “business owner, ‘’ but the reality is that there are many business owners who are not entrepreneurs–they are not pursuing a “new idea."
Detailed explanation-2: -The main difference between innovation and entrepreneurship is that innovation involves introducing something new. This can be a new business model, product, idea, or service. On the other hand, entrepreneurship involves turning a great idea into a business opportunity.
Detailed explanation-3: -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.