Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
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Question
Chapter 6, Problem 1CT
Summary Introduction
To think critically about: The reason due to which someone have the entrepreneurial spirit and views about it.
Introduction:
The person, who risks time and money to begin and manage a business is known as an entrepreneur.
Expert Solution & Answer
Explanation of Solution
Following are the traits due to which a person has the entrepreneurial spirit:
Self-directed: One must be self-disciplined and thoroughly comfortable being own boss. None will be responsible for success or failure except that person.
Self-nurturing: If someone believe in his or her idea even when no one else does, and be able to replenish business by their own makes them a true entrepreneur having that spirit.
Action oriented: The commitment towards their desires to fulfill and actualize their dreams into reality.
Highly energetic: The one who is having entrepreneurial spirit is emotionally, mentally, and physically able to work long and hard, take no vacations and feels that its better working for long hours than working for someone less.
Tolerant of uncertainty: Such individual take calculated and rational risks but are not afraid to fail and are prepared for uncertainties.
Conclusion
Attributes like self-directed, self-nurturing, action oriented, tolerant to uncertainty and highly energetic makes someone having an entrepreneurial spirit.
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Chapter 6 Solutions
Understanding Business
Ch. 6.1 - Prob. 6.1AQCh. 6.1 - Prob. 6.1BQCh. 6.1 - Prob. 6.1CQCh. 6.1 - Prob. 6.1DQCh. 6.1 - Prob. 6.1EQCh. 6.1 - Prob. 1TPCh. 6.1 - Prob. 2TPCh. 6.1 - Prob. 3TPCh. 6.1 - Prob. 4TPCh. 6.2 - Prob. 6.2AQ
Ch. 6.3 - Prob. 1MEDCh. 6.4 - Prob. 6.4AQCh. 6.4 - Prob. 6.4BQCh. 6.4 - Prob. 5TPCh. 6.5 - Prob. 6TPCh. 6.5 - Prob. 7TPCh. 6 - Prob. 1CTCh. 6 - Prob. 2CTCh. 6 - Prob. 3CTCh. 6 - Prob. 1DWSCh. 6 - Prob. 2DWSCh. 6 - Prob. 3DWSCh. 6 - Prob. 4DWSCh. 6 - Prob. 5DWSCh. 6 - Prob. 1TITCh. 6 - Prob. 2TITCh. 6 - Prob. 1VCCh. 6 - Prob. 2VCCh. 6 - Prob. 3VC
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