Which of the following statements are true and which are false?
(i) Entrepreneurs take risks in converting ideas into action
(ii) Entrepreneurs are gamblers.
(iii) An entrepreneur constantly strives for the excellence.
(iv) Entrepreneurs are born not made.
(v) An entrepreneur generates employment for others.
(vi) Entrepreneur is an independent person.
Answers
Answer:
1. true
2. false
3. true
4. false
5. true
6. true
Answer:
(i) It’s true, entrepreneurs take risks in converting ideas into action
(ii) It’s false, entrepreneurs are not gamblers.
(iii) It’s true, an entrepreneur constantly strives for excellence.
(iv) It’s false, Entrepreneurs are made not born.
(v) It’s true, an entrepreneur generates employment for others.
(vi) It’s true, an Entrepreneur is an independent person.
Explanation:
The entrepreneur will have to study all the factors which may have an influence on the selection of the type of business. Besides keeping an open mind while looking for business opportunities and generating business ideas, an entrepreneur must keep in mind that the business idea should utilize his technical and professional abilities.
In order to manage certain manufacturing techniques, the entrepreneur must process the requisite skills and qualifications. It would make things easier if he or she had the necessary knowledge and experience as well.