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“An Entrepreneur alone determines the lines of business to expand and capital to employ.”
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 'B'. Can you explain this answer?
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“An Entrepreneur alone determines the lines of business to expan...
Risk Taking
Entrepreneurs are known for their willingness to take risks in order to achieve their business goals. This can involve financial risks, such as investing capital in new ventures or expanding into different lines of business. The quoted lines do not specifically highlight risk-taking as the main function of an entrepreneur.
Organisation Building
The highlighted function in the quoted lines is organisation building. Entrepreneurs play a crucial role in determining the structure and direction of their businesses. They decide which lines of business to expand into and how to allocate resources effectively. By making these decisions, entrepreneurs are actively involved in building and shaping their organisations.
Innovation
While innovation is an important aspect of entrepreneurship, the quoted lines do not specifically focus on this function. Innovation involves coming up with new ideas, products, or services to meet the needs of customers and stay ahead of the competition.
Production
Production is another key function of entrepreneurship, involving the creation of goods or services to be sold in the market. However, the quoted lines do not directly relate to the production aspect of entrepreneurship. Instead, they emphasize the entrepreneur's role in determining the lines of business to expand and the capital to employ.
Entrepreneurs are known for their willingness to take risks in order to achieve their business goals. This can involve financial risks, such as investing capital in new ventures or expanding into different lines of business. The quoted lines do not specifically highlight risk-taking as the main function of an entrepreneur.
Organisation Building
The highlighted function in the quoted lines is organisation building. Entrepreneurs play a crucial role in determining the structure and direction of their businesses. They decide which lines of business to expand into and how to allocate resources effectively. By making these decisions, entrepreneurs are actively involved in building and shaping their organisations.
Innovation
While innovation is an important aspect of entrepreneurship, the quoted lines do not specifically focus on this function. Innovation involves coming up with new ideas, products, or services to meet the needs of customers and stay ahead of the competition.
Production
Production is another key function of entrepreneurship, involving the creation of goods or services to be sold in the market. However, the quoted lines do not directly relate to the production aspect of entrepreneurship. Instead, they emphasize the entrepreneur's role in determining the lines of business to expand and the capital to employ.
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“An Entrepreneur alone determines the lines of business to expan...
Organisation Building
- The highlighted lines suggest that the entrepreneur alone determines the lines of business to expand and capital to employ.
- This indicates that the entrepreneur is responsible for making decisions about the overall structure and organization of the business.
- Organization building involves establishing the framework and structure of the business, including determining the lines of business to expand into and the resources needed to support that expansion.
- It encompasses activities such as strategic planning, resource allocation, and decision-making about the business's direction.
- By highlighting the entrepreneur's role in determining the lines of business and capital to employ, the quoted lines emphasize the importance of organization building as an entrepreneurial function.
- The highlighted lines suggest that the entrepreneur alone determines the lines of business to expand and capital to employ.
- This indicates that the entrepreneur is responsible for making decisions about the overall structure and organization of the business.
- Organization building involves establishing the framework and structure of the business, including determining the lines of business to expand into and the resources needed to support that expansion.
- It encompasses activities such as strategic planning, resource allocation, and decision-making about the business's direction.
- By highlighting the entrepreneur's role in determining the lines of business and capital to employ, the quoted lines emphasize the importance of organization building as an entrepreneurial function.
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“An Entrepreneur alone determines the lines of business to expand and capital to employ.”Which of the following Entrepreneurial function of an Entrepreneur is highlighted in Quoted lines?a)Risk Takingb)Organisation Buildingc)Innovationd)ProductionCorrect answer is option 'B'. Can you explain this answer?
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