Discuss the factors motivating the entrepreneur.

1.	Discuss the factors motivating the entrepreneur.
Answer» State the factors motivating the entrepreneur. Meaning: Motivation is the process of attempting to influence others to do your will through the possibility of gain or reward. (A) Internal factors: (1) Strong desire to do something. (2) Educational background and technical knowledge. (3) Business experience in same or related line. (B) External factors: (1) Financial assistance from government and other knowledge. (2) Demand for the product. (3) Availability of raw material, labour and machinery. (4) Encouragement for big house. (5) Profit Margin.

Answer»

State the factors motivating the entrepreneur.

Meaning: Motivation is the process of attempting to influence others to do your will through the possibility of gain or reward.

(A) Internal factors:

(1) Strong desire to do something.

(2) Educational background and technical knowledge.

(3) Business experience in same or related line.

(B) External factors:

(1) Financial assistance from government and other knowledge.

(2) Demand for the product.

(3) Availability of raw material, labour and machinery.

(4) Encouragement for big house.

(5) Profit Margin.

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