What is the simplest meaning of entrepreneurship?
Answer and explanation
Correct answer: Starting a new business
At a basic level, entrepreneurship is the process of identifying an opportunity and creating or developing a venture to provide value. Starting a new business is a simple expression of this idea. In broader use, entrepreneurship can also occur through innovation or a new venture within an existing organisation, and it involves initiative and risk.
Frequently asked questions
What is the correct answer to this question?
Starting a new business
Why is this the correct answer?
At a basic level, entrepreneurship is the process of identifying an opportunity and creating or developing a venture to provide value. Starting a new business is a simple expression of this idea. In broader use, entrepreneurship can also occur through innovation or a new venture within an existing organisation, and it involves initiative and risk.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
