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 businessman aims for profit but an entrepreneur prefers to gain experience
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A businessman is involved in trading activity but an entrepreneur is involved in production
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An entrepreneur always has new ideas and tries to expand his business, but a businessman sells existing products
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An entrepreneur gives priority to quantity, but a businessman gives priority to quality
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Detailed explanation-1: -A businessman follows an established path engraved by someone with an unoriginal idea, but an entrepreneur believes and thinks about making his/her own path with new ideas. A businessman runs an undertaking or a business, whereas an entrepreneur runs a startup with an original, innovative product/idea.
Detailed explanation-2: -In the future, an entrepreneur can become a businessman. However, between businessman and entrepreneur, there is a thin line difference businessman is a market player, whereas, the entrepreneur is a market leader.
Detailed explanation-3: -An entrepreneur is a person who innovates new ideas for developing a product and service which would have a value in the market, and also has to various risks involved in the business. The small business owner is a person who simply starts a business with an existing idea or buys an existing business.