Question

Which of the following statements are true and which are false?
(i) An entrepreneur should learn after commiting the mistakes repeatedly.
(ii) A person who does not have decision making power connot be an
entrepreneur.
(iii) Lack of self confidence is the secret of success of all entrepreneurs.
(iv) An entrepreneur should have the capacity to take timely decision.

Answer 1

Answer:

1. true

2. true

3. false

4. true

Answer 2

Answer:

(i) It’s false, an entrepreneur should learn not to repeat it after committing the mistakes for the first time.

(ii) It’s true, 'a person who does not have 'decision-making power' can not be 'an entrepreneur'.

(iii) It’s false, having 'self-confidence is the 'secret of success of all entrepreneurs'.

(iv) It’s true, 'An entrepreneur should have the 'capacity to take timely decisions.'

Importance of the entrepreneur:

'Entrepreneurship is important' because it can 'change the way you work' and live. As an entrepreneur, you create wealth for you, your family and the society where you belong. Entrepreneurship is the way you organize your business, the risks that you get, and the profits/losses that you generate.