Explain the role of the government in entrepreneurship?

Principles of Management
OER 2019th Edition
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax
Chapter4: External And Internal Organizational Environments And Corporate Culture
Section4.1: The Organization's External Environment
Problem 2CC: What factors within the economic environment affect businesses?
icon
Related questions
Question

Explain the role of the government in entrepreneurship?

Expert Solution
Step 1: Define entrepreneurship:

Entrepreneurship is the method involved with distinguishing, making, and chasing after opportunities to begin and work on another business or adventure. It includes people, known as entrepreneurs,  who will go ahead with well-balanced plans of action, consolidate assets, and use their innovativeness and advancement to foster new items, administrations, or plans of action. A business venture isn't restricted to beginning new organizations; they can likewise incorporate exercises inside existing associations focused on advancement and development. Key components of entrepreneurship incorporate perceiving market needs, coordinating assets, taking on monetary and administrative obligations, and pursuing the effective foundation and development of a business or drive. Entrepreneurs play an essential part in driving financial turn of events, work creation, and development in different ventures and areas.

steps

Step by step

Solved in 4 steps

Blurred answer
Recommended textbooks for you
Principles of Management
Principles of Management
Management
ISBN:
9780998625768
Author:
OpenStax
Publisher:
OpenStax College
Foundations of Business - Standalone book (MindTa…
Foundations of Business - Standalone book (MindTa…
Marketing
ISBN:
9781285193946
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Foundations of Business (MindTap Course List)
Foundations of Business (MindTap Course List)
Marketing
ISBN:
9781337386920
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Contemporary Marketing
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning