What is the simplest meaning of entrepreneurship?
Answer and explanation
Correct answer: The process of starting and running a new venture
Entrepreneurship is the process of identifying an opportunity, creating or organising a venture, and managing it under uncertainty. It includes planning, arranging resources, making decisions, and accepting risk. Finding a job or taking holidays is not entrepreneurship, and leaving work without planning has no venture-building purpose.
Frequently asked questions
What is the correct answer to this question?
The process of starting and running a new venture
Why is this the correct answer?
Entrepreneurship is the process of identifying an opportunity, creating or organising a venture, and managing it under uncertainty. It includes planning, arranging resources, making decisions, and accepting risk. Finding a job or taking holidays is not entrepreneurship, and leaving work without planning has no venture-building purpose.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
