Discover Your Entrepreneurial Style
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Questions and Answers

What is entrepreneurship?

Entrepreneurship is the process of designing, launching and running a new business offering a product, process or service for sale or hire.

What are the people who create new businesses called?

Entrepreneurs.

What is an enterprise?

An enterprise is a project or undertaking that is especially difficult, complicated or risky.

Who is called an entrepreneur?

<p>The person who sets up their own business.</p> Signup and view all the answers

What do entrepreneurs do?

<p>Entrepreneurs not only search for new market demand, but also create demand by studying the market.</p> Signup and view all the answers

Define entrepreneurship and explain how it is different from pursuing other economic activities.

<p>Entrepreneurship is the process of setting up one’s own business as distinct from pursuing any other economic activity, be it employment or practicing some profession.</p> Signup and view all the answers

What is the definition of entrepreneurship?

<p>Entrepreneurship is the process of designing, launching and running a new business offering a product, process or service for sale or hire.</p> Signup and view all the answers

What is the role of entrepreneurs in creating market demand?

<p>Entrepreneurs not only search for new market demand, but also create demand by studying the market.</p> Signup and view all the answers

What is the difference between entrepreneur, entrepreneurship, and enterprise?

<p>Entrepreneur is the person who sets up their own business, entrepreneurship is the process of setting up a business, and enterprise refers to the outcome of the project or undertaking.</p> Signup and view all the answers

Give an example of an activity that is considered entrepreneurship.

<p>Opening a new restaurant can be considered an example of entrepreneurship.</p> Signup and view all the answers

What is the difference between entrepreneurship and pursuing employment or practicing a profession?

<p>Entrepreneurship involves setting up one's own business, while pursuing employment or practicing a profession refers to working for someone else or providing services as an employee or professional.</p> Signup and view all the answers

What is the role of entrepreneurs in creating market demand?

<p>Entrepreneurs not only search for new market demand but also create demand by studying the market and identifying opportunities.</p> Signup and view all the answers

What is the outcome of entrepreneurship?

<p>The outcome of entrepreneurship is an enterprise, which refers to the project or undertaking that is especially difficult, complicated, or risky.</p> Signup and view all the answers

Give an example of an innovative entrepreneurial activity.

<p>Just opening a new restaurant is not considered innovative entrepreneurship.</p> Signup and view all the answers

What is effectuation in entrepreneurship?

<p>Effectuation is a concept in entrepreneurship that focuses on leveraging available resources and taking action to achieve goals, rather than predicting and planning for the future.</p> Signup and view all the answers

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