16 Questions
What are the push factors that discourage individuals from choosing entrepreneurship as a career option?
Fear of failure and financial insecurity
How does corporate entrepreneurship differ from traditional entrepreneurship?
Corporate entrepreneurship involves innovating within an existing organization, while traditional entrepreneurship starts new ventures.
What differentiates self-employment from traditional job roles?
Self-employment involves taking more risks and responsibility than traditional jobs.
How does social entrepreneurship differ from regular entrepreneurship?
Social entrepreneurship prioritizes addressing social or environmental issues alongside financial goals.
What is the primary motivation for individuals engaging in innovative entrepreneurship?
Drive to introduce novel products, services, or processes in the market
In the context of entrepreneurship, how are micro, small, and medium enterprises categorized?
By the number of employees they have
Define self-employment.
Self-employment refers to individuals who work for themselves rather than an employer, taking on tasks and responsibilities to generate income independently.
Explain the concept of social entrepreneurship.
Social entrepreneurship involves using innovative solutions to address social problems, creating sustainable change and positive impact in society.
Differentiate between entrepreneurship and job.
Entrepreneurship involves taking risks to start and manage a business, while a job typically involves working for an employer in exchange for a salary or wages.
Describe the features of corporate entrepreneurship.
Corporate entrepreneurship refers to entrepreneurial activities within an existing organization, focusing on innovation, risk-taking, and strategic renewal to drive growth and create competitive advantage.
Explain the differences between innovative entrepreneurship and imitative entrepreneurship.
Innovative entrepreneurship involves introducing new ideas or products to the market, while imitative entrepreneurship involves replicating existing successful business models or products.
Describe the concept of women entrepreneurship.
Women entrepreneurship refers to businesses or ventures started and operated by women, empowering them economically and promoting gender equality.
State the merits of entrepreneurship.
Entrepreneurship offers opportunities for innovation, independence, potential for high rewards, job creation, economic growth, and personal fulfillment.
State the demerits of job roles.
Job roles may have limited growth opportunities, lack of creative freedom, fixed salaries, job insecurity, and dependence on employers.
Define micro, small, and medium enterprises.
Micro, small, and medium enterprises are categorized based on the number of employees, assets, and revenue, with microenterprises having fewer than 10 employees, small enterprises having up to 50 employees, and medium enterprises up to 250 employees.
Explain the push factors that attract individuals to start a venture.
Push factors that attract individuals to start a venture include the need to earn a livelihood, secure basic needs like food and shelter, pursue passion, achieve independence, and create social impact.
Explore the benefits and drawbacks of being self-employed, from freedom in choosing work to the potential financial rewards and stresses. Learn about flexible schedules, tax benefits, and the absence of formal leave or retirement plans.
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