State with reasons whether the following statements are 'true' or 'false'.
3. Motivation is an important factor in the development of an entrepreneur.
Motivation is an important factor in the development of an entrepreneur – True
Explanation:
The basic objective of an entrepreneur is to accomplish the goal of the organisation for which he/she needs skills and willingness. Skills can be achieved through education and training, while willingness is something that comes with motivation. An entrepreneur should be motivated from within to work towards the fulfilment of the organisational goal. Hence, we can say that motivation leads to entrepreneurial development.
