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Question
Write short answer of the following.
Discuss the factors motivating the entrepreneur.
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Solution
State the factors motivating the entrepreneur.
Meaning: Motivation is the process of attempting to influence others to do your will through the possibility of gain or reward.
(A) Internal factors:
(1) Strong desire to do something.
(2) Educational background and technical knowledge.
(3) Business experience in same or related line.
(B) External factors:
(1) Financial assistance from government and other knowledge.
(2) Demand for the product.
(3) Availability of raw material, labour and machinery.
(4) Encouragement for big house.
(5) Profit Margin.
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