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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Mentor
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Apprentice
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Entrepreneur
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Intermeditary
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Detailed explanation-1: -Sole Proprietorship and its Advantages In a sole proprietorship, as the owner, you have complete control over your business. You make all important decisions and are generally responsible for all day-to-day activities.
Detailed explanation-2: -The main reason for an entrepreneur to start a business enterprise is because he comprehends the venture for his individual satisfaction and has personal stake in it whereas a manager provides his services in an enterprise established by someone.
Detailed explanation-3: -What is Entrepreneurship? Entrepreneurship It is a proactive process of developing a business venture to make a profit. It involves seeking opportunities for market, establishing and operating a business out of the opportunity, and assessing its risks and rewards through close monitoring of the operations.
Detailed explanation-4: -Voice of Enterprise (VOE)-It is the process to articulate the needs of the entrepreneur or his/her company. Opportunity starts with ideation that have specific problems identified, and rough solutions proposed.