Best answer: Which statement is true of entrepreneurs?

Which is true of an entrepreneur?

An entrepreneur gets things done and loves to be competitive in the process. A true entrepreneur is not predictable, one that possesses a certain creativity level that allows one self to see and produce “ahead of the curve”. However, without strong people skills, an entrepreneur cannot be successful alone.

Which statement best describes entrepreneurs?

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.

Which of the following are correct for an entrepreneur?

Entrepreneurs are those persons who seek to create value by starting new businesses with innovative products and services. Entrepreneurs are those people who seek to create value for local communities, people or customers by starting new ventures which exploit new products, processes or markets.

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Which characteristic is most likely to be true of entrepreneur?

Entrepreneurs are passionate and positive

Passion may be the most important trait of the successful entrepreneur. They genuinely love what they do and are willing to put in the extra hours to make their business grow. They get a sense of satisfaction from their work that goes beyond making money.

What is the meaning of entrepreneur in entrepreneurship?

An entrepreneur is an individual who identifies a need in the marketplace and works to fulfill it. … Consider, for example, Merriam-Webster’s definition that explains entrepreneur as “one who organizes, manages, and assumes the risks of a business or enterprise.”

Which two characteristics best describe entrepreneurs?

5 characteristics of an entrepreneur

  • Motivation. Entrepreneurs are by nature motivated. …
  • Passion. Passion is another characteristic of entrepreneurs. …
  • Vision. …
  • Confidence. …
  • Decision Making.

Which of the following is a characteristic of the entrepreneurial personality?

Independent: They are individualists and self-starters who prefer to lead rather than follow. Self-confident: They understand the challenges of starting and operating a business and are decisive and confident in their ability to solve problems.

How would you describe yourself as an entrepreneur?

Definition Of An Entrepreneur

As I said, it’s not about having money or power. … “…to me, being an entrepreneur simply means being someone who wants to make a difference to other people’s lives.” So, the entrepreneur is also the person whose job it is to create a better overall quality and standard of life in society.

What is entrepreneur PDF?

An entrepreneur is a person who establishes his own. business with the intention of making profits. An entrepreneur is a person who only provides capital. without taking active part in the leading role in an enterprise.

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What is entrepreneurship Slideshare?

 Entrepreneurship is the process of bringing together creative and innovative ideas and actions with the management & leadership skills to mobilize the appropriate people, money and operating resources to create wealth in the process. …  Innovation is the specific function of entrepreneurship.

What are examples of entrepreneurship?

Examples of Entrepreneurs

  • Bill Gates, founder of Microsoft. …
  • Steve Jobs, co-founder of Apple computers, which produces Macs, iPods and iPhones, as well as Apple TV.
  • Mark Zuckerberg, the founder of Facebook.
  • Pierre Omidyar, founder of eBay.
  • Arianna Huffington, founder of the Huffington Post, a well-known online news site.

What is entrepreneurship according to?

Entrepreneurship, according to Onuoha (2007), “is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities.” Schumpeter (1965) defined “entrepreneurs as individuals who exploit market opportunity through technical and/ …

Which following is not true in case of characteristics of an entrepreneur?

The need for affiliation is not a characteristic of an entrepreneur. … All the other options such as the need for independence, need for achievement, and calculated risk-taking nature are the characteristics of a successful entrepreneur.

What is the need of entrepreneurship?

Entrepreneurship is important, as it has the ability to improve standards of living and create wealth, not only for the entrepreneurs but also for related businesses. Entrepreneurs also help drive change with innovation, where new and improved products enable new markets to be developed.