Podcast
Questions and Answers
According to Joseph Alois Schumpeter, what does entrepreneurship involve?
According to Joseph Alois Schumpeter, what does entrepreneurship involve?
- Avoiding new markets
- Implementing traditional methods of production
- Introducing new goods (correct)
- Utilizing existing organizations
What distinguishes an entrepreneur from a businessman?
What distinguishes an entrepreneur from a businessman?
- Organizing ventures to benefit from opportunities (correct)
- Having a high position in a company
- Inventing new products
- Working as an employee
What is the role of an 'imitating' entrepreneur?
What is the role of an 'imitating' entrepreneur?
- Resist any changes in the organization
- Discover new markets
- Immediately copy new inventions made by innovative entrepreneurs (correct)
- Invent new ideas
What does a 'drone' entrepreneur tend to be reluctant towards?
What does a 'drone' entrepreneur tend to be reluctant towards?
What is the primary purpose of a business plan?
What is the primary purpose of a business plan?
Which type of entrepreneur is most likely to innovate and reorganize a company's structure?
Which type of entrepreneur is most likely to innovate and reorganize a company's structure?
What is the main focus of a vision statement?
What is the main focus of a vision statement?
Which element in a business plan describes the future end-state that supports the mission and vision?
Which element in a business plan describes the future end-state that supports the mission and vision?
What defines objectives in a business context?
What defines objectives in a business context?
In a SWOT analysis, what does the 'W' stand for?
In a SWOT analysis, what does the 'W' stand for?
What differentiates a mission statement from a vision statement?
What differentiates a mission statement from a vision statement?
How do goals differ from objectives in a business plan?
How do goals differ from objectives in a business plan?
Which of the following is NOT a type of Market Segmentation mentioned in the text?
Which of the following is NOT a type of Market Segmentation mentioned in the text?
What is the purpose of 'Positioning' in marketing?
What is the purpose of 'Positioning' in marketing?
Which 'P' in the '8 P's of Marketing' relates to individual employees directly engaged in production, marketing, and sale?
Which 'P' in the '8 P's of Marketing' relates to individual employees directly engaged in production, marketing, and sale?
What does the 'T' stand for in SMART goals, as mentioned in the text?
What does the 'T' stand for in SMART goals, as mentioned in the text?
Which of the following is considered an intangible product according to the text?
Which of the following is considered an intangible product according to the text?
What is the purpose of a feasibility study in the context of opening a new entrepreneurial venture?
What is the purpose of a feasibility study in the context of opening a new entrepreneurial venture?
Which of the following is a component typically included in a business plan?
Which of the following is a component typically included in a business plan?
What is the main purpose of a business plan?
What is the main purpose of a business plan?
When is a feasibility study usually conducted in relation to a business plan?
When is a feasibility study usually conducted in relation to a business plan?
Which section of a business plan usually presents the general perspective of the business?
Which section of a business plan usually presents the general perspective of the business?
What aspect does a feasibility study primarily focus on when examining a proposed business concept?
What aspect does a feasibility study primarily focus on when examining a proposed business concept?
