Write down two points on contributions of entrepreneurs in society
Answers
Answer:
Innovation
Entrepreneurs use businesses to create products and services that solve problems in innovative ways. Because businesses must earn a profit to survive, entrepreneurs don't have the luxury of being impractical. Their products and services must be functional, and they must be designed to be cost-effective and to appeal to enough people to make it viable to produce the products.
Although the first computers were created in government and university settings, it took an entrepreneur to adapt the idea into a form that had widespread appeal and practicality. Similarly, governments may mandate environmental standards that force individuals and businesses to reach a threshold level of sustainability. But when entrepreneurs introduce products that are genuinely appealing and provide real world environmental solutions, their ideas get considerably more traction.
Local Focus
When entrepreneurs start successful businesses, they create jobs that contribute to widespread prosperity. Unlike large companies, which often divert profits to centralized corporate headquarters in distant cities, small businesses keep local dollars close to home. Their successful businesses create jobs, and those jobs pay neighborhood workers, who in turn, reinvest their paychecks in local economies.
This reinvestment creates a positive feedback loop: as small businesses thrive, their workers thrive, as well and their increased spending paves the way so that a greater number of small businesses can hire and pay additional workers. Local businesses also often make it a priority to support local endeavors and organizations such as school clubs and sporting teams. These sponsorships are win-win opportunities, providing funding for area groups while giving publicity to the businesses involved.
Answer:
here are two points of how entrepreneurs contribute in the society:
Explanation:
1. Entrepreneurs give society new ideas and create room for innovation and creativity.
2. Entrepreneurs create jobs for the unemployed and ensure cash flow in the society.