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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Obtain financing.
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Identify staffing needs
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Conduct research.
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Select a location.
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Detailed explanation-1: -The first step in creating and identifying opportunities is idea generation; the more ideas we generate, the greater the likelihood we will find a strong opportunity.
Detailed explanation-2: -According to entrepreneurs, three factors are most important for enabling a company’s growth: access to markets, the supply of human capital (i.e. people with the right skills for the job) and access to funding.
Detailed explanation-3: -Stage 1: Inspiration and ideation. Stage 2: Execution. Stage 3: Scaling the business. Step 4: Reaching the top of the mountain. 07-Nov-2019
Detailed explanation-4: -Communication. Every entrepreneur needs to be an effective communicator. Sales. The soft skill of sales goes hand-in-hand with the communication necessary to be successful. Focus. Ability to Learn. Business Strategy.