Entrepreneurship 101
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Questions and Answers

What is the role of an entrepreneur?

An entrepreneur is a person who creates an enterprise by taking financial risk in order to make a profit.

What are the abilities of an entrepreneur?

An entrepreneur has the ability to see and evaluate business opportunities.

Define entrepreneurship.

Entrepreneurship is a system of creating new businesses through the coordination, innovation, and performance of the entrepreneur.

What are some entrepreneurial traits?

<p>Some entrepreneurial traits include innovation, risk-bearing, passion for the business, and product/customer focus.</p> Signup and view all the answers

What does innovation mean in the context of entrepreneurship?

<p>In the context of entrepreneurship, innovation refers to doing something new and different, seeking to meet the changing requirements of customers.</p> Signup and view all the answers

Which one of the following best describes an entrepreneur?

<p>A person who takes financial risk in order to make a profit</p> Signup and view all the answers

What is the main focus of an entrepreneur's passion for the business?

<p>Influencing people's lives</p> Signup and view all the answers

What does entrepreneurship refer to?

<p>The various activities done for the establishment and operation of an enterprise</p> Signup and view all the answers

Which of the following traits is important for an entrepreneur to have?

<p>Innovation</p> Signup and view all the answers

What is the role of an entrepreneur in a new venture?

<p>To start the new venture</p> Signup and view all the answers

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