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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Entrepreneurship refer to
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the process of creating something new with value by devoting the necessary time and effort
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the process of business expansion that creates wealth, a better standard of living and condition
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the process of creation and business expansion wealth, a better standard of living and conditions
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the process of creating something new with value by devoting the wealth and glory
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Explanation:
Detailed explanation-1: -Peters (1998) said, “Entrepreneurship is the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic and social risks and receiving the resulting rewards of monetary and personal satisfaction and independence.”
Detailed explanation-2: -Entrepreneurship refers to the process of creating a new enterprise and bearing any of its risks, with the view of making the profit. The person who creates a new enterprise and embraces every challenge for its development and operation is known as an entrepreneur.
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