Question

"Are entrepreneurs born or made?" Argue with valid reasons from the literature. (10 marks)

Entrepreneurs always keep an eye on the various challenges to spot some business ideas. Assume you intend to start a new business in the tech industry. What strategies would you employ to identify potential business opportunities and challenges?
A) Conduct extensive market research and analysis
B) Focus on building a strong network of industry professionals
C) Implement continuous innovation and product development
D) Utilize social media platforms for consumer engagement and feedback

Answer 1

The debate on whether entrepreneurs are born or made has long been discussed. While certain traits may be innate, entrepreneurship can also be learned and developed through education and experience. Option C is correct.

Step-by-step explanation:

The debate of whether entrepreneurs are born or made has long been discussed in the literature. While some argue that entrepreneurs are born with innate qualities that make them successful, others believe that entrepreneurship can be learned and developed through education and experience. It is important to note that both nature and nurture play a role in shaping an entrepreneur.

Research suggests that certain traits and characteristics such as risk-taking propensity, self-motivation, passion, resilience, and creativity are common among successful entrepreneurs. These traits may be influenced by genetic factors and early childhood experiences.

However, it is also widely recognized that entrepreneurship can be cultivated and developed through education, mentorship, and practical experience. Many successful entrepreneurs have undergone formal education or participated in entrepreneurship programs and have acquired the knowledge, skills, and networks needed to start and run successful businesses.