Practicing Success
Practicing Success
CUET Preparation Today
| Which of the following is a function of entrepreneurship? |
Contribution to GDP Capital Formation Generation of Employment All of these |
| All of these |
| Entrepreneurs play important roles both in relation to economic development and in relation to the enterprise. In relation to economic development, entrepreneurs contribute to growth in GDP, capital formation and employment generation besides creating business opportunities for others and bringing about an improvement in the quality of life in the community in which they operate. In relation to the enterprise, they perform a number of roles right from the conception of a business idea, examining its feasibility and mobilisation of resources for its eventual realisation as a business firm. They bear the uncertainties and risks associated with the business activity, introduce product, market, technological and a host of other innovations. In the developing country context they also assume the responsibility for the day-to-day management of the enterprise. |
