ENTREPRENEURSHIP

INTRODUCTION TO ENTREPRENEURSHIP

IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of these statements best describes the context for entrepreneurship?
A
Entrepreneurship takes place in small businesses.
B
Entrepreneurship takes place in large businesses
C
Entrepreneurship takes place in a wide variety of contexts.
D
Entrepreneurship does not take place in social enterprises.
Explanation: 

Detailed explanation-1: -Consumer groups, product accessibility, financial assistance, technology, and the environment all influence the entrepreneurial mindset. Being an entrepreneur applies to any form of business that caters to the wants and requirements of customers. Hence, option C best describes the contexts for entrepreneurship.

Detailed explanation-2: -Answer» C. Entrepreneurship takes place in a wide variety of contexts.

Detailed explanation-3: -Environmental factors are key in fostering entrepreneurship and include culture, networks, access to capital, mobility, and government policies. Although the entrepreneurial setting differs from corporate and bureaucratic contexts, entrepreneurial behavior may occur in small or large organizations (intrapreneurship).

Detailed explanation-4: -Entrepreneurship is when an individual that has an idea acts on that idea, usually to disrupt the current market with a new product or service. Entrepreneurship usually starts as a small business but the long-term vision is much greater, to seek high profits and capture market share with an innovative new idea.

Detailed explanation-5: -Concept of Entrepreneurship Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make a profit. The most prominent example of entrepreneurship is the starting of new businesses.

There is 1 question to complete.