Answer to Question #233565 in Management for khanyi

Question

prudence is an excellent baker and is currently studying and identified a need for healthy snacks and treats on campus. after doing the necessary market research, she established a gap and a need amongst fellow students for healthy meals and snacks, prepared and cooked by herself. nothing like this has been done before, therefore, she will have to purchase all the necessary equipment and ingredient and hire acquired space. define term entrepreneur and entrepreneurship then motive whether prudence can be regarded as entrepreneur or not? 2. assuming that prudence can be considered an entrepreneur, define skills, expertise, and aptitudes of entrepreneur and indicate how can applies to her

Answer 1

An entrepreneur is an individual who identifies a business and gets the necessary resources to starts and run it. An entrepreneur must have a passion for what they do and must be business savvy, risk taker, innovative, confident, and never give up. On the same note, entrepreneurship is one of the factors of production where an individual develops, organizes and runs a business enterprise, along with any of its uncertainties in order to make a profit. In the case provided, Prudence  must portray the outlined characteristics of an entrepreneur to sustain the business on the market