INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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TRUE
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FALSE
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Either A or B
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None of the above
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Detailed explanation-1: -True: The entrepreneur can see the results of his efforts easily.
Detailed explanation-2: -By creating new products and services, they stimulate new employment, which ultimately results in the acceleration of economic development. So public policy that encourages and supports entrepreneurship should be considered important for economic growth.
Detailed explanation-3: -True. Entrepreneurship involves identifying opportunities, creating innovative solutions, and taking risks to start and grow a business. This process often leads to the creation of an organization to manage and operate the business.
Detailed explanation-4: -Development of managerial capabilities An entrepreneur studies a problem, identifies its alternatives, compares the alternatives in terms of cost and benefits implications, and finally chooses the best alternative. This exercise helps in sharpening the decision-making skills of an entrepreneur.