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Questions and Answers
What is a key difference between a businessman and an entrepreneur?
What is a key difference between a businessman and an entrepreneur?
- Businessmen take calculated risks, while entrepreneurs are willing to risk loss.
- Businessmen pursue their passion, while entrepreneurs do business for profit.
- Businessmen are excellent at planning, while entrepreneurs see every minute as an opportunity.
- Businessmen start a company to bring a product to the market, while entrepreneurs franchise and retail. (correct)
Which trait is more associated with entrepreneurs?
Which trait is more associated with entrepreneurs?
- Pursuing passion over profit. (correct)
- Taking calculated risks.
- Efficiency in communication.
- Seeing every minute of the clock as an opportunity.
What is a common characteristic of businessmen according to the text?
What is a common characteristic of businessmen according to the text?
- Efficiency in decision-making.
- Taking time to perfect their product.
- Willingness to risk loss with limited resources.
- Seeing every minute as an opportunity to help people. (correct)
How do entrepreneurs differ from businessmen in terms of product/service development?
How do entrepreneurs differ from businessmen in terms of product/service development?
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Which skill is highlighted as important for both businessmen and entrepreneurs?
Which skill is highlighted as important for both businessmen and entrepreneurs?
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Study Notes
Businessman vs Entrepreneur
Businessman
- A businessman is an individual who makes a business out of an unoriginal idea, such as franchising and retailing.
- Their primary goal is to make a profit and become their own boss.
- They take calculated and managed risks to avoid losses.
- They see every minute as an opportunity to help people.
Entrepreneur
- An entrepreneur is an inventor who starts a business with limited resources.
- They are willing to risk loss in order to make money.
- They start a company with the purpose of bringing a product or service to the market.
- They are excellent at planning, efficient at communicating, and have the ability to make wise decisions.
- They are passionate about their product and take time to perfect it, even if it means losing time.
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