Maharashtra State BoardHSC Commerce 12th Board Exam
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Write Short Answer of the Following. What is the Need of an Entrepreneur in Our Society? - Organisation of Commerce and Management

Short Note

Write short answer of the following.
What is the need of an entrepreneur in our society?

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Solution

An entrepreneur is needed in the society because of the following reasons:
i. Innovation - The entrepreneur provides goods and services to customers by introducing new and innovative techniques of production which facilitate economic activities.
ii. Bears risks - By venturing into the new and uncertain areas, the entrepreneur also bears the risks involved in the project.
iii. Adds to the economic development - By creating employment opportunities in the society, an entrepreneur contributes
towards the economic development of a country.
iv. Market development - The entrepreneurs constantly strive to establish new techniques of productions and products which in turn helps in the market growth and development.

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APPEARS IN

Micheal Vaz Organisation of Commerce and Management (OCM) HSC 12th Standard Maharashtra State Board
Chapter 8 Entrepreneurship Development
Write short answer of the following | Q 4 | Page 191
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