Ano-ano ang kahalagahan ng Enterpreneurship?
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Answer:
Entrepreneurs play a pivotal role in the growth of the economy. They spur industry innovations, create new market opportunities, and support the development of communities. The different ways in which entrepreneurship is important to society include:
Economic Expansion: As entrepreneurs successfully create and market products and services aligned with market demands, they generate more revenue for their companies. This increases the overall national income and contributes to economic growth. Thereafter, the advantages of economic expansion cascade to other businesses and marketplaces as well.
Wealth Generation: Entrepreneurs frequently target new markets and reach out to audiences outside the radar of their existing business. This creates new streams of revenue and profits.
Social Change: The innovative products and services provided by entrepreneurs reduce the dependence on outdated processes and technologies. One instance includes the way smartphones have affected how businesses communicate with clients, employees, and partners.
Community Development: Entrepreneurs promote a sense of community among people with common goals and passion, whether in a local neighborhood or across continents. Their products and services contribute to the social and economic development of the community.