Maharashtra State BoardHSC Commerce 12th Board Exam
Advertisement Remove all ads

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?

Advertisement Remove all ads


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.

  Is there an error in this question or solution?
Advertisement Remove all ads


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
Advertisement Remove all ads

Video TutorialsVIEW ALL [1]

Advertisement Remove all ads

View all notifications

      Forgot password?
View in app×