Question

Explain characteristics of entrepreneurship.

Answer 1

Characteristics of entrepreneurship are:

1. Ability to take the risk: An entrepreneur should have the courage and capacity to take the risk.

2. Innovation: An entrepreneur must be innovative i.e. he must be able to generate new business ideas to generate more profits.

3. Vision: He must have a future vision regarding his business.

4. Leadership: He must possess the leadership quality so that he can co-ordinate the efforts of his employees and guide them to work for the achievement of the organisational goals.