INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Availability of resources and time for business
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Type of business and timing
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Interest, talent, profitability and training experience
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Educational preparedness and market of the products
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Detailed explanation-1: -A person who undertakes the risk of starting a new business venture is called an entrepreneur. An entrepreneur creates a firm to realize their idea, known as entrepreneurship, which aggregates capital and labor in order to produce goods or services for profit.
Detailed explanation-2: -The correct answer is B) Corporate entrepreneurship refers to entrepreneurship within the organization.
Detailed explanation-3: -No entrepreneur makes it to the top of the game without the support of others. This is the reason an important ingredient that all good entrepreneurs have is the ability to build relationships. You can’t just be courteous to each other. The relationships have to be strong and genuine if you want to go far.
Detailed explanation-4: -The SWOT analysis (strengths, weaknesses, opportunities, threats) is one of the most popular. This involves looking at the strengths and weaknesses of your business’ capabilities, and any opportunities and threats to your business.