1. An entrepreneur is an individual who starts and operates a business, taking on financial risks in the hopes of making a profit.
2. Entrepreneurship refers to the process of starting and running a business or venture, taking on financial risks in order to achieve success.
3. Some of the key characteristics of successful entrepreneurs include:
- Passion: Entrepreneurs are often driven by a strong passion for their business idea and are willing to put in the time and effort required to make it succeed.
- Risk-taking: Entrepreneurs are willing to take on financial risks in order to pursue their business goals and are able to make decisions under uncertainty.
- Resilience: Entrepreneurship involves dealing with setbacks and failures, and successful entrepreneurs are able to bounce back from challenges and keep moving forward.
- Creativity: Entrepreneurs often need to think outside the box and come up with innovative solutions to problems, as well as find new opportunities in the market.
- Adaptability: The business environment is constantly changing, and entrepreneurs need to be able to adapt to new circumstances and pivot their business strategies when necessary.
- Strong work ethic: Running a business requires a lot of hard work and dedication, and successful entrepreneurs are willing to put in the effort needed to achieve their goals.
1. Define an entrepreneur.
2. Define entrepreneurship.
3. Explain entrepreneurial characteristics
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