INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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getting fired
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losing time with family
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not making much money
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making a bad business decision
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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: -Which of the following is NOT considered a risk of being an entrepreneur? Providing value to others is considered a benefit of being an entrepreneur, not something you have to risk.
Detailed explanation-3: -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.