INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Acceptance of risks
|
|
|
The creation process
|
|
|
Devotion of time and effort
|
|
|
Monetary and non-monetary rewards
|
Detailed explanation-1: -Entrepreneurship is defined as “creating something new with value by devoting necessary time and effort, assuming the accompan.
Detailed explanation-2: -Essentially, entrepreneurship is the process of developing, organizing, and running a new business to generate profit while taking on financial risk.
Detailed explanation-3: -“Entrepreneurship is the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic and social risks and receiving the resulting rewards of monetary and personal satisfaction and independence.”
Detailed explanation-4: -Innovation is the process of developing a new idea or invention of a product or service that creates a value in the market for which the customer would pay for and satisfies the needs and expectations of the customer.