INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Entrepreneurial culture can be described as an environment where someone is motivated to innovate, create and take risks. In a business, an entrepreneurial culture means that employees are encouraged to brainstorm new ideas or products. When work time is dedicated to these activities, it is called entrepreneurship.
Detailed explanation-2: -Entrepreneurial culture has been defined as the attitude, values, skills, and power of a group or individuals working in an institute or an organization to generate income.
Detailed explanation-3: -An entrepreneur gets things done and loves to be competitive in the process. A true entrepreneur is not predictable, one that possesses a certain creativity level that allows one self to see and produce “ahead of the curve”. However, without strong people skills, an entrepreneur cannot be successful alone.
Detailed explanation-4: -An entrepreneur is an individual who takes the risk to start their own business based on an idea they have or a product they have created while assuming most of the risks and reaping most of the rewards of the business.