Assignment-1

By Nishant Shetty (19BSP1766)

1. Who is an entrepreneur?
 Entrepreneur is the one who operates and organizes the business and he is
the one who tries to compete in the market and he also takes financial and
operational risks in order to make sure that his product or services as well
as his business survives in this competitive market. He himself is a leader
who leads his company effectively and efficiently.
2. Essential characteristics of entrepreneur?
 Entrepreneur is the one who takes risk. He is the one who adapts according
to market scenario. He is a one who is a leader himself and he is very hard
working and disciplined. He is passionate towards his work and he is also
motivated and he has great organizational skills
3. Which firms can be called entrepreneurial venture?
 A firm which undertakes risky ventures and engages in product-market
innovation is called an entrepreneurial firm/venture. For example, best
example can be flipkart, zomato, ola can be called as entrepreneurial
venture
4. Benefit of entrepreneurship?
 There are many benefits of entrepreneurship
 Entrepreneur gets to be innovators
 He himself is his own boss
 He gets to understand the market
 Entrepreneur earns respects if he/she gets successful in an ethical
manner
5. Should ownership of enterprise be omitted?
 No, ownership of enterprise should not be omitted in order to be
entrepreneur as he is one who owns the business and brings an idea into
existence.
6. Is innovation the key word?
 Yes, innovation can be a key word in order to be an entrepreneur.
Innovation and entrepreneurship are essential ingredients in building a
successful commercial venture. Example of innovation can be ola entering
into the market with an innovative cab system where we can get a cab
through a app and also track it.
7. Explain entrepreneur life cycle?
 Entrepreneur life cycle starts from
 Idea generation
 Opportunity analysis
 Investment analysis
 Organizing resources
 Entry stage
 Growth stage
 Maturity and expansion
 Exit or continuation stage