INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Proactive
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Opportunity seeker
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Risk Taker
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Innovative
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Detailed explanation-1: -As entrepreneurs are self-employed, they need to possess qualities that help ensure they will be successful: self-motivation, drive, excellent communication, time management, and organizational skills to secure opportunities. Just as entrepreneurs are their own boss, so too are you during your job search.
Detailed explanation-2: -Entrepreneurs are innovative opportunity seekers. They have endless curiosity to discover new or different ideas and see whether these ideas will work in the marketplace. Entrepreneurs create value by introducing new products or services or finding better ways of making them.
Detailed explanation-3: -A person who dreams of becoming a successful must be a seeker of business opportunities. He/she must possess the ability to identify with great ease the most appropriate entrepreneurial opportunities. The entrepreneur usually identifies a business opportunity and them thoroughly evaluates its viability.
Detailed explanation-4: -(v) Peter F. Drucker’s Views on Entrepreneur – “An entrepreneur is the one who always searches for change, responds to it and exploits it as an opportunity. Innovation is the specific tool of entrepreneurs, the means by which they exploit changes as an opportunity for a different business or different service”.