INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Al is thinking about moving his company’s headquarters to another city, which would be expensive but closer to the raw materials needed for manufacturing. The benefit in moving is
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Demand
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Proximity
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Feasibility
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Independence
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Explanation:
Detailed explanation-1: -An entrepreneur is an individual who starts and runs a business with limited resources and planning, and is responsible for all the risks and rewards of their business venture.
Detailed explanation-2: -The key objective of a small business is to generate profits. However, as the owners are not keen on evaluating and taking up new business opportunities, they have limited profit-making ability.
Detailed explanation-3: -Passion is essential for the success of entrepreneurs. Those who convey passion are more persuasive, motivated, have larger social networks, and more social capital. They have more income, sales revenue, and growth in sales and earnings than less passionate entrepreneurs.
There is 1 question to complete.