INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Potential Business Failure
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Long hours and hard work
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Financial Insecurity
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Providing value to others
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Detailed explanation-1: -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-2: -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-3: -Thus, External Locus of control is not a characteristic of entrepreneur.
Detailed explanation-4: -Cost of the project is not a source of ideas for an entrepreneur.
Detailed explanation-5: -Answer: No Regular Salary-Running your own company means that you come last in terms of getting paid.