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?

The person who sets up their own business. Signup and view all the answers

What do entrepreneurs do?

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

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

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. Signup and view all the answers

What is the definition of entrepreneurship?

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

What is the role of entrepreneurs in creating market demand?

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

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

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. Signup and view all the answers

Give an example of an activity that is considered entrepreneurship.

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

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

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. Signup and view all the answers

What is the role of entrepreneurs in creating market demand?

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

What is the outcome of entrepreneurship?

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

Give an example of an innovative entrepreneurial activity.

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

What is effectuation in entrepreneurship?

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. Signup and view all the answers

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