Advantages and Disadvantages of Self-Employment

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What are the push factors that discourage individuals from choosing entrepreneurship as a career option?

Fear of failure and financial insecurity (correct)

Societal pressure to pursue traditional careers

Lack of basic needs such as food and shelter

Government incentives for job seekers

How does corporate entrepreneurship differ from traditional entrepreneurship?

Corporate entrepreneurship focuses on individual businesses, while traditional entrepreneurship focuses on large corporations.

Corporate entrepreneurship is always government-funded, while traditional entrepreneurship is self-financed.

Corporate entrepreneurship is solely profit-oriented, while traditional entrepreneurship emphasizes societal impact.

Corporate entrepreneurship involves innovating within an existing organization, while traditional entrepreneurship starts new ventures. (correct)

What differentiates self-employment from traditional job roles?

Self-employment involves taking more risks and responsibility than traditional jobs. (correct)

Self-employment provides more job security than traditional jobs.

Self-employment requires less creativity and innovation than traditional jobs.

Self-employment guarantees higher income compared to traditional jobs.

How does social entrepreneurship differ from regular entrepreneurship?

Social entrepreneurship prioritizes addressing social or environmental issues alongside financial goals. Signup and view all the answers

What is the primary motivation for individuals engaging in innovative entrepreneurship?

Drive to introduce novel products, services, or processes in the market Signup and view all the answers

In the context of entrepreneurship, how are micro, small, and medium enterprises categorized?

By the number of employees they have Signup and view all the answers

Define self-employment.

Self-employment refers to individuals who work for themselves rather than an employer, taking on tasks and responsibilities to generate income independently. Signup and view all the answers

Explain the concept of social entrepreneurship.

Social entrepreneurship involves using innovative solutions to address social problems, creating sustainable change and positive impact in society. Signup and view all the answers

Differentiate between entrepreneurship and job.

Entrepreneurship involves taking risks to start and manage a business, while a job typically involves working for an employer in exchange for a salary or wages. Signup and view all the answers

Describe the features of corporate entrepreneurship.

Corporate entrepreneurship refers to entrepreneurial activities within an existing organization, focusing on innovation, risk-taking, and strategic renewal to drive growth and create competitive advantage. Signup and view all the answers

Explain the differences between innovative entrepreneurship and imitative entrepreneurship.

Innovative entrepreneurship involves introducing new ideas or products to the market, while imitative entrepreneurship involves replicating existing successful business models or products. Signup and view all the answers

Describe the concept of women entrepreneurship.

Women entrepreneurship refers to businesses or ventures started and operated by women, empowering them economically and promoting gender equality. Signup and view all the answers

State the merits of entrepreneurship.

Entrepreneurship offers opportunities for innovation, independence, potential for high rewards, job creation, economic growth, and personal fulfillment. Signup and view all the answers

State the demerits of job roles.

Job roles may have limited growth opportunities, lack of creative freedom, fixed salaries, job insecurity, and dependence on employers. Signup and view all the answers

Define micro, small, and medium enterprises.

Micro, small, and medium enterprises are categorized based on the number of employees, assets, and revenue, with microenterprises having fewer than 10 employees, small enterprises having up to 50 employees, and medium enterprises up to 250 employees. Signup and view all the answers

Explain the push factors that attract individuals to start a venture.

Push factors that attract individuals to start a venture include the need to earn a livelihood, secure basic needs like food and shelter, pursue passion, achieve independence, and create social impact. Signup and view all the answers