An entrepreneur is one who ________.a.knows that the concept they are about to develop will result in a profitable businessb.is willing to attempt to implement a business concept and then give up if it does not meet immediate expectationsc.creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunitiesd.understands the process of developing an idea and does not need to understand what it means to bring that idea to a viable business concept
Question
An entrepreneur is one who ________.a.knows that the concept they are about to develop will result in a profitable businessb.is willing to attempt to implement a business concept and then give up if it does not meet immediate expectationsc.creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunitiesd.understands the process of developing an idea and does not need to understand what it means to bring that idea to a viable business concept
Solution
The correct answer is c. An entrepreneur is one who creates a new business concept for the purpose of achieving profit and growth by assembling the necessary resources to capitalize on identified opportunities. This definition encompasses the risk-taking, innovation, and resource management that are characteristic of entrepreneurship.
Similar Questions
An entrepreneur is another name for someone who has a plan to start a business.Group of answer choicesTrueFalse
What is Entrepreneur?
Entrepreneurship can best be described as ______________a.taking a significant risk in a business contextb.a process involving innovation, new products or services, and value creationc.having a strong visiond.a process that requires setting up a business
Understanding the meaning of the term 'Entrepreneurship'What is entrepreneurship? The set processes or activities that are done by an entrepreneur to establish an enterprise. The process of boosting the motivation, and enhancing knowledge and skills of potential entrepreneurs. A system that allows employees to act like entrepreneurs within an existing organisation.
Which of the following best defines entrepreneurship? A. A process of risk-taking B. A way of making money C. A system of innovation D. An individual's skill set
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