12th Class Business Studies Entrepreneurship Development

  • question_answer 6)
    Clarify the meaning of the terms 'entrepreneur', 'entrepreneurship' and 'enterprise'.

    Answer:

    Entrepreneur The owner of a business is known as Entrepreneur or we can say that the person who set-up his business. He is the co-ordinator, organizer of resources and gives shape to the business. Entrepreneurship It is the dynamic process of interaction between the person and the environment. It means starting up one's own business concerned with strategic decisions of resource allocation and involved huge risk to create value and earn profit. Enterprise The output of the entrepreneurship process is known as the Enterprise. It is something attempted to be perform. It provides employment opportunities, professional opportunities and business opportunities which helps in building up the economy of a nation.  


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