Entrepreneurship

Questions:

1. What is an Entrepreneurship?

2. Who is an Entrepreneur?

3. Distinguish Entrepreneur from manager.

4. Give at least 10 characteristic of an Entrepreneurship.

5. What are the benefits that one can get from being an Entrepreneur?

Answers:

1. -Entrepreneurship is the act of being of being an entrepreneur, which can be defined as one “who finance and business acumen in an effort to transform innovations into economic goods.” This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity.

-Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities. 

-Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail. 

-Entrepreneurial activities are substantially different depending on the type of organization that in solving-Entrepreneurship ranges in scale from solo projects (even involving the entrepreneur only part-time) to major undertakings creating many job opportunities. 

2. The person behind entrepreneurship is the entrepreneur processing certain characteristic and different traits which make them unique.

Who can identify opportunities in the market.

Who can take and accept risks.

Who can bring innovation.

Who can provide leadership.

Who can maximize investment return.

3. -Entrepreneur is a creator while the manager is a custodian.

-Entrepreneur is not a problem solver but a problem finder. On the other hand, manager is the problem solver. He, with the problem already there, given the context and the situation, exercises his skills in solving it.

-Entrepreneur is personally responsible while the manager is merely responsible.

-The main reason for an entrepreneur to start a business enterprise is because he comprehends the venture for his individual satisfaction and has personal stake in it where...