Question

In: Finance

An entrepreneur is a person who initiates a business venture, and as such he has certain features that are unique to him/her

An entrepreneur is a person who initiates a business venture, and as such he has certain features that are unique to him/her. State and explain these features. 

Solutions

Expert Solution

a) Risk taking capacity: every business has risk of time, money
etc. So an entrepreneur must have the capacity to take such
risks.

b)Creativity and innovation: an entrepreneur has an initiator ,
creativity and innovative power
c)Need for achievement: the entrepreneur has strong desire to
achieve the goal of business. he is always driven by the needs
for achievement.
d) Need for autonomy: an entrepreneur does not like to be under
anybody. It is the need for autonomy which drives a person to
be an entrepreneur.
e) Internal locus of control: an entrepreneur believes in him his
work


Risk taking capacity, creativity and innovation, need for achievement, need for autonomy and internal locus of control.

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