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: -The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
Detailed explanation-2: -Entrepreneurship is the mindset and process to create and develop economic activity by. blending risk-taking, creativity and/or innovation with sound management, within a new. or an existing organisation.
Detailed explanation-3: -The definition of entrepreneurship according to Oxford Languages is “the activity of setting up a business or businesses, taking on financial risks in the hope of profit.” However, Howard Stevenson of Harvard Business School, has defined entrepreneurship as the “pursuit of opportunity beyond resources controlled”.
Detailed explanation-4: -What is an entrepreneur? An entrepreneur is a person who sets up a business with the aim to make a profit. This entrepreneur definition is a bit vague, but for good reason. An entrepreneur can be a person who has a home business idea and sets up their first online store on the side, or a freelancer just starting out.