Question : What does entrepreneurship development refer to?
Option 1: The process of starting a new business
Option 2: The process of fostering entrepreneurial skills and qualities
Option 3: The process of becoming a successful entrepreneur
Option 4: The process of managing an existing business
Correct Answer:
The process of fostering entrepreneurial skills and qualities
Solution : The correct answer is (b) The process of fostering entrepreneurial skills and qualities.
Entrepreneurship development refers to the process of fostering and nurturing entrepreneurial skills, qualities, and mindset in individuals. It involves providing guidance, support, and resources to individuals who aspire to become entrepreneurs or enhance their entrepreneurial capabilities. Entrepreneurship development aims to cultivate and promote the spirit of entrepreneurship, innovation, risk-taking, and business creation. It involves various activities and initiatives that enable individuals to develop the knowledge, skills, and mindset required to identify opportunities, create new ventures, and manage them effectively.
Entrepreneurship development is essential for economic growth, job creation, and fostering innovation in societies. It encourages individuals to identify and capitalize on opportunities, contribute to economic development, and create value through entrepreneurial ventures.