entrepreneur

Topics: Entrepreneurship, Entrepreneur, Risk Pages: 4 (1010 words) Published: December 17, 2013
Entrepreneurship w/ Innovative Study

Questions:
1.) Define entrepreneurship? Atleast 2 definition.
2.) What is entrepreneur?
3.) Characteristics of entrepreneurship.
4.) Advantages or Benefits of becoming an Entrepreneur.
5.) Disadvantages of becoming an Entrepreneur.
Answer :
1.) Entrepreneurship- is the willingness to take risks and develop, organize and manage a business venture in a competitive global marketplace that is constantly evolving. An entrepreneurial spirit of innovation and ambition is essential to the process. Entrepreneurship- is the process of creating or seizing an opportunity, and pursuing it regardless of the resources currently controlled. The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses. In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nation's ability to succeed in an ever changing and increasingly competitive global marketplace. 2.) Entrepreneur- is a person who creates small businesses. Entrepreneurs are calculated risk-takers---they strive to maximize potential of their venture while simultaneously minimizing risk. They are able to recognize opportunities as they arise and create goods or services in order to take advantage of the opportunity before competitors catch on to it. Entrepreneurs may create new products or services, improve on current products or services, or simply find a new way to market existing products or services. Entrepreneur is a person who develops a new idea and takes the risk of setting up an enterprise to produce a product or service which satisfies customer needs. All entrepreneurs are business persons, but not all business persons are entrepreneurs. Let us now think of why all...
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