Question

Explain the role of an entrepreneur as a protector of society’s interest?

Answer 1

Answer:

Entrepreneurship is crucial since it may raise living standards and generate money for both the entrepreneurs and connected businesses. Entrepreneurs also contribute to change through innovation, which opens up new markets through the creation of new and improved products.

Explanation:

Step 1: In essence, entrepreneurs are the forerunners in introducing new technology and methods, which ultimately result in societal transformations. These adjustments are linked to a better way of living, charitable thinking, stronger morale, and better economic decision-making. Thus, societal changes progressively have an influence on regional, planetary, and global changes.

Step 2: Through entrepreneurship, new markets for products, services, and technology can emerge. It opens up opportunities for wealth creation; higher wages result in higher national income and tax receipts. It encourages creativity, independence, and creates job chances.

Step 3: Entrepreneurs interact well with society. They generate income through engaging in beneficial activities for society. Some businesspeople donate money to construct schools and hospitals, while others fight to protect the environment. The individuals and neighbourhood they live in improve as a result.

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Answer 2

Answer:

Explanation:

Since it can increase living standards and produce income for both the entrepreneurs and related firms, entrepreneurship is important. Entrepreneurs also contribute to change through innovation, which creates new and improved products that open up new markets.

Explanation:

1: In essence, business owners pioneer the introduction of new technologies and practises that ultimately lead to societal changes. These changes are associated with a better way of life, charitable thinking, higher morale, and wiser financial choices. Thus, societal changes gradually have an impact on planetary, global, and regional changes.

2: New markets for goods, services, and technology may develop as a result of entrepreneurship. Increased salaries increase national income and tax revenues, creating potential for wealth growth. It promotes originality, self-reliance, and production.

3. Entrepreneurs are socially adept in step three. They earn money by taking part in socially useful activities. Some entrepreneurs make financial contributions to build hospitals and schools, while others work to preserve the environment. They become better people, and the area they dwell in also gets better.

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