Question

Write some paragraphs to discuss entrepreneurship - What makes a successful business owner? Provide examples or research to support your opinions. Please do not use palagiarism.

Answer 1

In economics there are four widely known factors of production , namely , land , labour , capital and entrepreneurship . An entrepreneur is a person who organizes all other factors of productions and undertakes risks to generate profits . Character traits of a successful entrepreneur are - risk taking ability , goal-oriented , focused , formulates the best way of manufacture for maximum profit generation . A business owner , to become successful , should always be resilient to ups and downs , have a clearly drawn plan and be very organized in organizing other factors of production . Some examples are Larry Page , Henry Ford , Steve Jobs etc . We can see that each of these people had formulated a brilliant plan or idea , undertaken high risks and were very focused to attain success .