INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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maximizing the benefits obtained from available opportunities
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taking full responsibility for the completed work
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minimizing resource utilization
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determining performance targets on one’s own
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Detailed explanation-1: -The four entrepreneurial processes includes discovering, assessing and opportunity, developing a business plan, establishing resource needs, and managing the resulting enterprise (Barringer & Ireland, 2010).
Detailed explanation-2: -Entrepreneur is often aware of the business environment with immense product knowledge, the acceptance of the product or service is known by the feedback of the same, and desire for immediate feedback is not a typical characteristic of an entrepreneur.
Detailed explanation-3: -Make strategic planning a top priority. Keep a close eye on your competitors. Work to broaden your client base. Stay close to your customers. Monitor profit margins. Develop a cash-flow planner. More items
Detailed explanation-4: -Find something you’re passionate about. Set yourself up for success with the right education. Be willing to take risks. 29-Nov-2022