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BBA-505- INTERNAL ASSIGNMENT
Question 1- Define the term
‘Entrepreneurship’. Explain the importance of ‘Entrepreneurship’.
Sol: The word ‘entrepreneurship’
typically means to undertake. It owes its origin to Western societies. From the
economic standpoint, initially the economists used to discuss three factors of
production: (a) land, (b) labour and (c) capital. To bring these three factors
of production together a new factor of production is recognized i.e.
‘entrepreneur’.
Question 2 – What are the sources
of opportunities for an entrepreneur? Discuss the methods of generating ideas.
Sol:
1.
Sources of Opportunities:
Opportunities are everywhere. It
is like ‘eye the beholder’. Some see opportunities, some don’t. Some even see
opportunity in threats or failure.
The source of grassroots
innovation, like that of wright brothers need just curiosity, relentless
efforts and of course a belief in oneself that ‘we shall overcome someday’. In
case of existing innovation, creative thinking comes
Question 3: Write short notes on:
1.
Types of ownership securities
Sol: For non-corporate (sole-proprietorship
and partnership) businesses there is only one type of ownership security
available and that is the owners’ capital. Owners (sole-proprietor or partners)
bring capital and enjoy the rights to participate in managing business
(depending upon agreement) and the right to share profit or loss (usually in
the
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