Question

What do you understand from Entrepreneurship? Support your answer using examples. pls solve it fast

pls solve it

Answer 1

ANS- Entrepreneurship is the ability of an individual to develop, to organize and to run a business or an enterprise in any uncertainties to earn maximum profit. The basic example of entrepreneurship is starting a new business. It is connected with land, labor, capital and natural resources and these factors help in earning maximum profits. An individual is able to establish, administer and get success while establishing a business along with risks.

There are four types of entrepreneurship- small business, scalable startup, large company, social entrepreneurship. Some of the characteristics of entrepreneurship are taking, risk, new ideas, the visionary quality, open-minded, flexible, knowing the product. Entrepreneurship helps in the creation of employments, it increases the standard of living and helps in the development of community, it increases the standard of living, and it helps in research and development.