ENTREPRENEURSHIP

Detailed explanation-1: -Risk bearing: The essence of entrepreneurship is the ‘willingness to assume risk’ arising out of the creation and implementation of new ideas. New ideas are always tentative and their results may not be instantaneous and positive. An entrepreneur has to have patience to see his efforts bear fruit.

Detailed explanation-2: -Theorists Frank Knight and Peter Drucker defined entrepreneurship in terms of risk-taking. The entrepreneur is willing to put his or her career and financial security on the line and take risks in the name of an idea, spending time as well as capital on an uncertain venture.

Detailed explanation-3: -Understanding an Entrepreneurial Nature The tendency to take on projects or create opportunities of a commercial or humanitarian nature, using a high degree of independence, where the reward may be monetary or involves self-satisfaction. People with a strong Entrepreneurial Nature have a natural flair for business.

Detailed explanation-4: -The correct answer is B. An entrepreneur is defined as an individual who creates and funds a new business and continues to bear the risks incurred during the business operations while enjoying the rewards.