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Which of the following best describes 'entrepreneurship'?
Which of the following best describes 'entrepreneurship'?
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Practice Questions
1 question
Q1
Which of the following best describes 'entrepreneurship'?
The process of managing a large corporation
The act of starting and running a new business
A method of increasing employee productivity
A strategy for reducing operational costs
Show Solution
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Entrepreneurship involves the process of starting and managing a new business venture, often characterized by innovation and risk-taking.
Questions & Step-by-step Solutions
1 item
Q
Q: Which of the following best describes 'entrepreneurship'?
Solution:
Entrepreneurship involves the process of starting and managing a new business venture, often characterized by innovation and risk-taking.
Steps: 4
Show Steps
Step 1: Understand that entrepreneurship is about starting a new business.
Step 2: Recognize that it involves managing that business once it is started.
Step 3: Identify that entrepreneurs often create new ideas or products (innovation).
Step 4: Acknowledge that entrepreneurship includes taking risks to make the business successful.
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