Final answer:
Taking responsibility for one's actions, decisions, and accepting the consequences means being accountable for the choices made and outcomes that follow.
Step-by-step explanation:
Taking ownership for one's actions, decisions, and accepting the resulting consequences is known as responsibility. It means being accountable for the choices we make and the outcomes that follow. For example, if someone chooses to skip studying and instead go on a date or attend a party, they must accept the consequences of potentially receiving a failing grade. Similarly, in the context of a business, taking responsibility entails understanding that the success or failure of the venture is a result of the decisions and risks taken by the entrepreneur.