GENERAL KNOWLEDGE

Detailed explanation-1: -The three driving forces in the entrepreneurial process are (1) the opportunity, (2) resources, and (3) the founder or founding team.

Detailed explanation-2: -The entrepreneur is the one that initiates the process of production by mobilizing the other factors of production. He organizes, manages and controls the affairs of the firm. He is the risk bearer and in consideration of this the profit maker as well. Simply put the entrepreneur is the owner of the business.

Detailed explanation-3: -Generally speaking, entrepreneurs take risks as it allows them to distinguish themselves from their competitors. In the competitive business environment that exists today, those who are willing to position themselves as risk-takers position themselves as leaders as well, while others get left behind.

Detailed explanation-4: -An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change.