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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Organization
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Creativity
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Open-mindedness
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Willingness to take risks
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Detailed explanation-1: -Risk-taking in entrepreneurship is the process of identifying, evaluating, mitigating, and trying out potential opportunities and strategies that may help you build or grow your business but could also lead to personal or professional loss.
Detailed explanation-2: -Risk Bearing is another element – of entrepreneurship. Every entrepreneur has to bear the risk of the business. He should have the courage to take the risk rather than avoid it. A new business always involve risk because one invests money to get profits in the future.
Detailed explanation-3: -Most entrepreneurs fail because they do not have the knowledge or are not prepared enough. The main thing that comes between an entrepreneur and the success of their business is fear. They fear failure, making mistakes, losing money, fear being embarrassed, and fear being left out.
Detailed explanation-4: -Lack of Right Idea. The core of successful entrepreneurship lies in problem-solving. Unorganized Manpower Resources. Cash Crunch. The Vision of the Founder. Lack of Study of Data. Late Realization. Not Targeting the Right Market. Delegation Issues. More items •12-Apr-2022