INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A physical item created to be used, such as a car, or phone.
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Something useful offered like cell phone service or haircut
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A presentation to explain a business idea.
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A brief visual presentation that shows the critical details of business products or services.
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Detailed explanation-1: -Services are diversified in three groups; Business services, social services and personal services.
Detailed explanation-2: -A haircut is a service. When you purchase a haircut, it’s not something you can hold, give to another person, or resell. “Pure” services are offerings that don’t have any tangible characteristics associated with them. Skydiving is an example of a pure service.
Detailed explanation-3: -What exactly is a ‘Haircut’ in banking? When a bank takes a ‘haircut’, it means it accepts less than what was due in a particular loan account. Example: if a bank was owed Rs 10, 000 by a borrower and it agrees to take back only Rs 8, 000, it takes a 20% haircut.
Detailed explanation-4: -Banking. Banking is arguably the most important service in the modern economy and it’s easy to understand why. Insurance. Property letting. Teaching and education. Childcare. Personal training. Car mechanic. Architecture. More items •22-Nov-2022