Question

Which function of an entrepreneur involves to create a new method, idea or product ?

Hint:

Entrepreneurs are often called "Innovators" because they disrupt current markets with new solutions.

Answer 1

Step 1: Understanding the Concept:
Entrepreneurship is often defined by the introduction of something new to the market.
Step 3: Detailed Explanation:
- Innovation is the specific process of translating an idea or invention into a good or service that creates value. It involves creating new methods, ideas, or products.
- Managing risk, dividing income, and making decisions are functions of an entrepreneur, but they relate to operations and management, not the specific act of creation.
Step 4: Final Answer:
The function is Innovation.