ENTREPRENEURSHIP

Detailed explanation-1: -While, an entrepreneur needs to be innovative while planning and deciding upon business activities as to fulfill the public demand but, it is not his duty to innovate new technology or products. Thus, innovation is not a function to be performed rather an essential characteristic of a successful entrepreneur. Q.

Detailed explanation-2: -There are four main customer needs that an entrepreneur or small business must consider. These are price, quality, choice and convenience.

Detailed explanation-3: -Entrepreneurship examples can be startup companies like BYJU’S, Ola, Flipkart, etc, or it can be any small business that is started by an individual or a group of individuals. Also see: What is Entrepreneurship?

Detailed explanation-4: -Perseverance is the determination that pushes the entrepreneur to keep going, keep trying in investing time, money and effort in his business ideas.