According to the definition of entrepreneur given in Chapter 1, owner-managers who buy out founders of existing firms may be classified as entrepreneurs.

Question

Quizplus · Accepted Answer

According to the definition given in Chapter 1, an entrepreneur can be anyone who starts a new business or acquires an existing one and takes risks to make it successful. Buying out a founder of an existing firm to become the new owner-manager involves taking on the risk of running and growing the business, making it a form of entrepreneurship.

According to the Definition of Entrepreneur Given in Chapter 1