The correct answer is option 4- Entrepreneurship.
Entrepreneurship is the process of setting up one’s own business as distinct from pursuing any other economic activity, be it employment or practising some profession. The person who set-up his business is called an entrepreneur. The output of the process, that is, the business unit is called an enterprise.
OTHER OPTIONS
- Organising is the management function of assigning duties, grouping tasks, establishing authority and allocating resources required to carry out a specific plan. Once a specific plan has been established for the accomplishment of an organisational goal, the organising function examines the activities and resources required to implement the plan.
- Profession- A profession is a type of occupation that typically requires specialized education, training, and skill. Professions often have a formal qualification process, adhere to ethical standards, and involve a commitment to continuous learning and development. People in professions are generally experts in their field. Some common examples of professions include Doctors, Lawyers, Engineers, Teachers, Architects etc.
- Employment refers to the state of having a job or a position in which an individual works for an employer in exchange for compensation, usually in the form of a salary or hourly wage. Employment can take various forms, such as full-time, part-time, temporary, or freelance, and can exist in a wide range of sectors, from agriculture and manufacturing to services and technology.
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