WORLD HISTORY

Detailed explanation-1: -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.

Detailed explanation-2: -A risk taker is someone who risks everything in the hope of achievement or accepts greater potential for loss in decisions and tolerates uncertainty. In contrast, there are managers who are risk averse, and they choose options that entail fewer risks and prefer familiarity and certainty.

Detailed explanation-3: -This theory is associated with American economist Hawley. According to him profit is the reward for risk-taking in business. Risk-taking is supposed to be the most important function of an entrepreneur. Every production that is undertaken in anticipation of demand involves risk.

Detailed explanation-4: -Coasting, opportunity comes to them (or it doesn’t) Conservative (very moderate use of resources, protecting existing resources) Aggressive (proactive, all-in, actively seeks opportunity) Innovator/Revolutionary (attains growth through innovation)