Question

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.

Answer 1

Answer:

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.