ENTREPRENEURSHIP

Detailed explanation-1: -Self-confidence comes from thorough planning, which reduces uncertainty and the level of risk. It also comes from expertise. Self-confidence gives the entrepreneur the ability to listen without being easily swayed or intimidated.

Detailed explanation-2: -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-3: -Flexibility is the ability to move quickly in response to changing market needs.

Detailed explanation-4: -According to this theory there is a direct relationship between profit and uncertainty bearing. Greater the uncertainty bearing the higher the level of profit. Uncertainty beaming has become so important in business enterprise in modern days, it has come to be considered as a separate factor of production.

Detailed explanation-5: -A successful entrepreneur always holds an extremely strong sense of self along with passion and resilient nature. Having numerous problems to overcome, being self-motivated and self-confident are the key traits that make most entrepreneurs successful.