INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Buying a franchise
|
|
|
Buying an existing business
|
|
|
Starting a new business from scratch
|
|
|
None of the above
|
Detailed explanation-1: -Franchisees can be regarded as entrepreneurs in the most important meaning of the word – they put their own capital at risk, seeking the best return on investment. In addition, franchisees assume the risks of ownership and sometimes have to be innovative to ensure the success of their franchises.
Detailed explanation-2: -An entrepreneur is a person who starts a new business and usually risks his own money to start the venture. Examples of well-known entrepreneurs include Bill Gates, Steve Jobs, Mark Zuckerberg, Pierre Omidyar, Arianna Huffington and Caterina Fake.
Detailed explanation-3: -An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
Detailed explanation-4: -4. What is important for entrepreneurs with home-based businesses to remember? . You need to work hard to build your business and make it successful.