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“Entrepreneurs introduce something new in any branch of economic activity. He foresee a potentially profitable opportunity and tries to exploit it.”. Which of the following Entrepreneurial function of an Entrepreneur is highlighted in Quoted lines?
- a)Risk Taking
- b)Organisation Building
- c)Innovation
- d)Production
Correct answer is option 'C'. Can you explain this answer?
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“Entrepreneurs introduce something new in any branch of economic...
Entrepreneurial function: Innovation
- The quoted lines state that entrepreneurs introduce something new in any branch of economic activity.
- This highlights the entrepreneurial function of innovation.
- Innovation refers to the ability of entrepreneurs to come up with new ideas, products, or processes that are different from the existing ones.
- Entrepreneurs have the vision to identify potentially profitable opportunities and take steps to exploit them.
- By introducing something new, entrepreneurs bring innovation to the market, which can lead to economic growth and development.
- Innovation is a crucial function of entrepreneurs as it drives progress and change in the business world.
- It involves creativity, problem-solving, and the ability to think outside the box.
- Successful entrepreneurs often differentiate themselves by their ability to innovate and bring new ideas to the market.
- Innovation can lead to competitive advantage, increased market share, and higher profits for entrepreneurs.
- Overall, the highlighted entrepreneurial function in the quoted lines is innovation, which plays a vital role in the success of entrepreneurs.
- The quoted lines state that entrepreneurs introduce something new in any branch of economic activity.
- This highlights the entrepreneurial function of innovation.
- Innovation refers to the ability of entrepreneurs to come up with new ideas, products, or processes that are different from the existing ones.
- Entrepreneurs have the vision to identify potentially profitable opportunities and take steps to exploit them.
- By introducing something new, entrepreneurs bring innovation to the market, which can lead to economic growth and development.
- Innovation is a crucial function of entrepreneurs as it drives progress and change in the business world.
- It involves creativity, problem-solving, and the ability to think outside the box.
- Successful entrepreneurs often differentiate themselves by their ability to innovate and bring new ideas to the market.
- Innovation can lead to competitive advantage, increased market share, and higher profits for entrepreneurs.
- Overall, the highlighted entrepreneurial function in the quoted lines is innovation, which plays a vital role in the success of entrepreneurs.
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“Entrepreneurs introduce something new in any branch of economic activity. He foresee a potentially profitable opportunity and tries to exploit it.”. Which of the following Entrepreneurial function of an Entrepreneur is highlighted in Quoted lines?a)Risk Takingb)Organisation Buildingc)Innovationd)ProductionCorrect answer is option 'C'. Can you explain this answer?
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