ENTREPRENEURSHIP

Detailed explanation-1: -Habits of character may not strictly be related to business but are to do with the kind of person the entrepreneur is and what he/she does. These are indispensable, alongside ‘technical habits’ and ‘skills’. The only way to acquire the habits essential for entrepreneurs is by acting in a way consistent with them.

Detailed explanation-2: -Ans: The correct answer is C. A good entrepreneur always focusses on the future. He learns from his past to be able to improve his future.

Detailed explanation-3: -Entrepreneurship is not something that can be taught in a classroom. These entrepreneurship lessons can only be learned through experience. If you want to be successful, you need to be willing to take risks, network, hustle, think outside the box, and persist through setbacks.

Detailed explanation-4: -An entrepreneur is an individual having an exclusive idea to establish a new venture. A businessman is an individual who establishes a business with an old business idea. Entrepreneurs are market leaders. Businessmen are market players.

Detailed explanation-5: -Many people believe that good entrepreneurs are born; that it is not a trainable skill. I believe there is an innate component, but I also often agree with the great Peter Drucker, who said “It’s not magic, it’s not mysterious, and it has nothing to do with genes.