Which of the following traits is characteristic of a successful entrepreneur?
Answer and explanation
Correct answer: Recognising opportunities and taking calculated risks
Entrepreneurs identify needs and opportunities, evaluate information and possible consequences, and take calculated rather than careless risks. They also learn from feedback and accept responsibility for decisions. Avoiding all change, depending on others for every decision, or ignoring customers can prevent adaptation and business improvement.
Frequently asked questions
What is the correct answer to this question?
Recognising opportunities and taking calculated risks
Why is this the correct answer?
Entrepreneurs identify needs and opportunities, evaluate information and possible consequences, and take calculated rather than careless risks. They also learn from feedback and accept responsibility for decisions. Avoiding all change, depending on others for every decision, or ignoring customers can prevent adaptation and business improvement.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: MSME and Business Entrepreneurship. Topic: Entrepreneurship Development.
