ENTREPRENEURSHIP

INTRODUCTION TO ENTREPRENEURSHIP

IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
____ identified innovation as a characteristic of entrepreneur for the first time in 1934.
A
William Diamond
B
A.H.Cole
C
W.B.Gartner
D
J.A.Schuumpeter
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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