CSEET · Economic and Business Environment · Entrepreneurship Scenario
Which of the following is NOT generally treated as a characteristic of entrepreneurship?
Guaranteed profit with no uncertainty is not a characteristic of entrepreneurship. Entrepreneurship inherently involves uncertainty and risk, so returns are not assured. Calculated risk taking, innovation and recognising opportunities while mobilising resources are accepted characteristics of entrepreneurial activity.
- AGuaranteed profit with no uncertaintyCorrect
- BWillingness to take calculated risks
- CInnovation in products or processes
- DOpportunity recognition and resource mobilisation
Explanation
Entrepreneurship involves uncertainty, so profit is never guaranteed. Calculated risk taking, innovation and opportunity recognition are standard characteristics. Hence the option claiming guaranteed profit with no uncertainty is the incorrect one.
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