Understanding Entrepreneurship
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Questions and Answers

What is the main purpose of entrepreneurship?

  • To get rich quickly
  • To create and build something of value (correct)
  • To define and distribute benefits
  • To motivate and inspire stakeholders
  • What is the most important factor in successfully achieving entrepreneurial goals?

  • Money
  • Vision
  • Passion
  • Commitment (correct)
  • What is NOT a benefit of entrepreneurship?

  • Long-term value
  • Durable cash flow
  • Increased stress (correct)
  • Increased risk
  • Study Notes

    • Entrepreneurship is the process of creating and building something of value from practically nothing.
    • Entrepreneurship usually requires a vision and the passion, commitment, and motivation to transmit this vision to other stakeholders, such as partners, customers, suppliers, employees, and financial backers.
    • Entrepreneurship involves the definition, creation, and distribution of value and benefits to individuals, groups, organizations, and society.
    • Entrepreneurship is very rarely a get-rich-quick proposition; rather, it is one of building long-term value and durable cash flow streams.

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    Description

    Test your knowledge about the process of creating and building something of value from practically nothing, involving vision, passion, commitment, and the distribution of value and benefits to individuals, groups, organizations, and society.

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