Question
What roles does entrepreneurship play in the society?
Answer
(i) Job creation: Entrepreneurship plays a crucial role in generating employment opportunities within the society.
(ii) Resource utilization: Entrepreneurship effectively utilizes available resources to create new ventures and contribute to economic growth.
(iii) Enhancing living standards: Entrepreneurship drives innovation and competition, leading to the development of new products, services, and technologies that can improve the overall quality of life in society.
(iv) Income generation: Entrepreneurship enables individuals to generate income by starting and managing their own businesses or ventures.
(v) Utilization of spare time: Entrepreneurship allows individuals to make productive use of their free time by pursuing entrepreneurial activities and creating value.
(vi) Provision of goods and services: Entrepreneurship is instrumental in meeting the needs and demands of society by providing a wide range of goods and services.
(vii) Self-empowerment: Entrepreneurship empowers individuals to take control of their professional lives, pursue their passions, and shape their own destinies.
(viii) Pursuit as a hobby: Entrepreneurship can also be pursued as a hobby, allowing individuals to turn their passions and interests into businesses or ventures that bring personal fulfillment and satisfaction.
In summary, entrepreneurship plays the following roles in the society
(i) Create employment
(ii) Utilize resources
(iii) Improve the living standards
(iv) Generate income
(v) Utilize free time
(vi) Provide goods and services
(vii) For self activation
(viii) As a hobby
(ii) Resource utilization: Entrepreneurship effectively utilizes available resources to create new ventures and contribute to economic growth.
(iii) Enhancing living standards: Entrepreneurship drives innovation and competition, leading to the development of new products, services, and technologies that can improve the overall quality of life in society.
(iv) Income generation: Entrepreneurship enables individuals to generate income by starting and managing their own businesses or ventures.
(v) Utilization of spare time: Entrepreneurship allows individuals to make productive use of their free time by pursuing entrepreneurial activities and creating value.
(vi) Provision of goods and services: Entrepreneurship is instrumental in meeting the needs and demands of society by providing a wide range of goods and services.
(vii) Self-empowerment: Entrepreneurship empowers individuals to take control of their professional lives, pursue their passions, and shape their own destinies.
(viii) Pursuit as a hobby: Entrepreneurship can also be pursued as a hobby, allowing individuals to turn their passions and interests into businesses or ventures that bring personal fulfillment and satisfaction.
In summary, entrepreneurship plays the following roles in the society
(i) Create employment
(ii) Utilize resources
(iii) Improve the living standards
(iv) Generate income
(v) Utilize free time
(vi) Provide goods and services
(vii) For self activation
(viii) As a hobby
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