The Fundamentals of Entrepreneurship
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Questions and Answers

According to Schumpeter's view, an entrepreneur is someone who

  • Creates a new business in the face of risk and uncertainty
  • Reforms or revolutionizes the pattern of production (correct)
  • Takes calculated risks and stays ahead of the competition
  • Exploits changes as an opportunity for different business or service

    • What is Drucker's view on innovation?

  • Innovation is not necessary for entrepreneurs
  • Innovation is a risky business
  • Innovation is a specific tool of entrepreneurs (correct)
  • Innovation is the key to success in any business

    • Which strategy did S Dhiru Bhai Ambani believe in?

  • Staying small and avoiding risks
  • Not capitalizing on emerging opportunities
  • Thinking big, thinking fast, thinking ahead (correct)
  • Avoiding business expansion and integration

    • What were some challenges faced by S Dhiru Bhai Ambani?

    <p>Legal disputes and financial setbacks</p> Signup and view all the answers

    What is the main purpose of an entrepreneur?

    <p>To achieve profit and growth</p> Signup and view all the answers

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