Define Entrepreneur and explain the characteristics.

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Accepted Answer

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> [!TLDR]
> An entrepreneur conceives a business idea, organises the factors of production and bears risk for profit. This TS Intermediate 2nd-year Commerce 10-mark answer defines the entrepreneur and then explains the key characteristics in detail.
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> **Definition of Entrepreneur**
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> An entrepreneur is an individual who conceives a business idea, brings together the land, labour, capital and organisation required, and assumes the risk and uncertainty of running the enterprise in the hope of earning profit. According to J. B. Say, an entrepreneur is one who shifts economic resources out of an area of lower productivity into an area of higher productivity and greater yield. In short, the entrepreneur is the organiser and risk-taker who converts an idea into a working enterprise.
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> **Characteristics of an Entrepreneur**
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> 1. Innovativeness and creativity — introduces new products, methods, markets or ideas and thinks differently from others.
> 2. Risk-bearing capacity — willing to take calculated risks and face the uncertainty of business.
> 3. Hard work and perseverance — puts in sustained effort and does not give up in the face of difficulties.
> 4. Self-confidence — believes firmly in his own abilities and decisions.
> 5. Decision-making ability — takes prompt, sound decisions even under uncertain conditions.
> 6. Leadership and organising ability — leads, motivates and coordinates people and resources effectively.
> 7. Vision and goal orientation — has a clear vision of the future and works steadily towards defined goals.
> 8. Optimism and positive attitude — stays hopeful and sees opportunity in every problem.
> 9. Communication and human relations — deals well with employees, customers, suppliers and investors. …

Q.Define Entrepreneur and explain the characteristics.

Concept understanding — Characteristics of an Entrepreneur

Q.Define Entrepreneur and explain the characteristics.

Concept understanding — Characteristics of an Entrepreneur

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