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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chain of command
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specialization
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product divisions
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departmentalization
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Detailed explanation-1: -Essentially, entrepreneurship is the process of developing, organizing, and running a new business to generate profit while taking on financial risk.
Detailed explanation-2: -What Is An Entrepreneur? An entrepreneur is a person who sets up a business or businesses and often takes on financial risks in the hope of profit. Entrepreneurs usually work in their own businesses and usually employ others to work for them. In many small businesses, family members are often the initial employees.
Detailed explanation-3: -Step 1 – Initial Idea Exploration, Identification and Assessment. Step 2-Idea/Concept and Scenario/Model Deliberation and Assessment. Step 3-Go/No-Go Decision. Step 4 – Business Plan Preparation and Implementation. Step 5 – Business Operations. Conclusion.