INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
true
|
|
|
false
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -Non-financial motives Reasons might include personal satisfaction, challenge, being your own boss and independence. An entrepreneur may feel a level of personal satisfaction that they have created a successful business. It may be that an entrepreneur is able to make a business out of a hobby or interest.
Detailed explanation-2: -Benefits identified from a non-financial perspective include competitive advantage, shared knowledge, stronger social net-works, leveraging from and experimenting with complementary resources.
Detailed explanation-3: -According to the U.S. Small Business Administration (SBA), roughly 70% of all new businesses survive for the first two years. Beyond that, the chances of success fall to about 50% at five years.