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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a person who advocates and practices the principles of entrepreneurship
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a person who knows how to sell
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a person who manages other people’s business
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a person whose primary concern is to earn profit
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Detailed explanation-1: -Entrepreneur. A person who operates or manages the business venture.-a person who strongly advocates and correctly practices the concepts and principles of entrepreneurship in operating and managing the self-owned business. Enterprise. Venture.
Detailed explanation-2: -An entrepreneur is someone who starts or owns a business. Whether it’s in farming, retail, manufacturing or in the service sector, entrepreneurs are businesspeople who find their success by taking risks.
Detailed explanation-3: -A person who undertakes the risk of starting a new business venture is called an entrepreneur. An entrepreneur creates a firm to realize their idea, known as entrepreneurship, which aggregates capital and labor in order to produce goods or services for profit.
Detailed explanation-4: -Coasting, opportunity comes to them (or it doesn’t) Conservative (very moderate use of resources, protecting existing resources) Aggressive (proactive, all-in, actively seeks opportunity) Innovator/Revolutionary (attains growth through innovation)