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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Legitimacy of entrepreneurship
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Social status
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Need for achievement
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None of these
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Detailed explanation-1: -Psychological Factors :-Inspiration for achievement prepares an entrepreneur to set higher goals and achieve them. The important psychological factors influencing entrepreneurial growth may be outlined as below: (A) Need for Achievement:-Need for achievement means the drive to achieve a goal.
Detailed explanation-2: -In general, the main psychological characteristics are strongly related to the entrepreneurial literature, namely: internal locus of control, the tendency to take risks, confidence, the need for achievement, tolerance for ambiguity and innovation.
Detailed explanation-3: -Capital. Capital is one of the most important factors of production for the establishment of an enterprise. Labor. Easy availability of right type of workers also effect entrepreneurship. Raw Materials. Market. Infrastructure. Education. Attitude of the Society. Cultural Value. 06-May-2017