What do you understand by Entrepreneurship? Write any
three features of Entrepreneurship.
Answers
Answer:
Characteristics of Entrepreneurship:
A few of them are mentioned below: Ability to take a risk- Starting any new venture involves a considerable amount of failure risk. ... Visionary and Leadership quality- To be successful, the entrepreneur should have a clear vision of his new venture.
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Answer:
Entrepreneurship is the process by which either an individual or a team identifies a business opportunity and acquires and deploys the necessary resources required for its exploitation.
Features of Entrepreneurship
1. Economic Activity: Entrepreneurship is regarded as an economic activity because it is concerned with setting up a business enterprise in pursuit of earning profit.
2. Dynamic: Entrepreneurship is dynamic in nature as the success of an entrepreneur depends upon the ability to innovate constantly in the light of changing situations.
3. Risk: Entrepreneurship involves assuming risks of varied kinds and proportion in order to realise desired goals.
4. People with high competence: Entrepreneurship is suitable for the people who are equipped with the required knowledge and skills to work under challenging innovative situations.
5. Purposeful activity: Entrepreneurship involves identification and implementation of new business ideas with the purpose of benefitting the people at large.