True entrepreneurs: a. hire professional managers to run their businesses. b. are professional managers whose job is running someone else's business. c. undergo the process of planning and operating a business venture. d. assume less-than-total personal risk for the success or failure of the business.

Question

Business

Adrianna Marsh

27 May, 00:59

True entrepreneurs: a. hire professional managers to run their businesses. b. are professional managers whose job is running someone else's business. c. undergo the process of planning and operating a business venture. d. assume less-than-total personal risk for the success or failure of the business.

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Logan Bishop · Answer 1

c. undergo the process of planning and operating a business venture

Explanation:

The definition of an entrepreneur is someone who seeks a market opportunity, and once it is found, starts a business with the goal of exploiting that market opportunity, investing capital and labor and incurring in financial risks, with the goal of obtaining a profit.

In other words, a true entrepreneur has to plan the way the business will be set up, including planning for capital, labor, and land costs. After the business is started, a true entrepreneur becomes the primary manager, which means that the operation of the business falls under his responsability.