Explain the concept of entrepreneurship in brief.

A.VERIFIED ANSWERfact-checked by tutors

Entrepreneurship is the process undertaken by an entrepreneur to augment his business interests. It is an exercise involving innovation and creativity that leads towards establishing his or her enterprise. It is a risk taking ability of the individual, broadly coupled with correct decision making.

Suggested Q&A

GENERAL · CLASS 10

GeneralCLASS 10
Explain the role of an entrepreneur as an innovator and job and wealth generator.
GeneralCLASS 10
The spirit of entrepreneurship helps an individual to grow. Explain this statement in detail.
GeneralCLASS 10
Explain the process of entrepreneurship in detail.
GeneralCLASS 10
Explain the role of entrepreneur as described by Peter Drucker.
GeneralCLASS 10
How does Jean Baptiste Say envisage the role of the entrepreneur?
GeneralCLASS 10
According to a famous thinker Peter Drucker, innovation is a specific instrument of an entrepreneur. Hence he believes that an effective entrepreneur converts a source into a resource. When is a source converted into a resource? Explain with the help if an example.