INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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(p. 6) The four basic aspects of being an entrepreneur are creation, motivation, delegation and risk-taking.
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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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Explanation:
Detailed explanation-1: -Entrepreneurs face multiple risks such as bankruptcy, financial risk, competitive risks, environmental risks, reputational risks, and political and economic risks. Entrepreneurs must plan wisely in terms of budgeting and show investors that they are considering risks by creating a realistic business plan.
Detailed explanation-2: -Monetary gains, more freedom, more authority, and creative control are the four motivations of an entrepreneur.
Detailed explanation-3: -Vision. Innovation cannot happen without vision, the ability to not only recognize opportunity and connect dots, but also the wherewithal to question why a solution does not exist to a problem. Passion. Adaptability. Resilience.
There is 1 question to complete.