INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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____ identified innovation as a characteristic of entrepreneur for the first time in 1934.
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William Diamond
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A.H.Cole
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W.B.Gartner
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J.A.Schuumpeter
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Explanation:
Detailed explanation-1: -Innovation: J.A.Schumpeter identified innovation. as a characteristic of entrepreneur for the first time in 1934.
Detailed explanation-2: -Schumpeter stressed the role of the entrepreneur as an innovator who implements change in an economy by introducing new goods or new methods of production.
Detailed explanation-3: -Innovation basically means generating a new idea with which you can start a business and achieve a substantial amount of profits. Innovation can be in the form of a product, i.e., launching a product that no one is selling in the market.
Detailed explanation-4: -Gifford Pinchot introduced the term (entrepreneur, intrapreneur, social entrepreneurship)
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