INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Subjective
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Detailed explanation-1: -A well-designed feasibility study should provide a historical background of the business or project, a description of the product or service, accounting statements, details of the operations and management, marketing research and policies, financial data, legal requirements and tax obligations.
Detailed explanation-2: -A feasibility study allows a business to address where and how it will operate, its competition, possible hurdles, and the funding needed to begin. The business plan then provides a framework that sets out a map for following through and executing on the entrepreneurial vision.
Detailed explanation-3: -Humility and self-awareness. Customer orientated. Cost efficient. Highly adaptable and future orientated. Risk-taker and not afraid of failure.
Detailed explanation-4: -Vision. Innovation cannot happen without vision, the ability to not only recognize opportunity and connect dots, but also the wherewithal to question why a solution does not exist to a problem. Passion. Adaptability. Resilience.
Detailed explanation-5: -Vision. Passion. Motivation. Risk-taking. Curiosity. Creativity. Confidence. 05-Aug-2022