Entrepreneurship and Innovation Quiz

<p>Face-to-face sales only (B)</p> Signup and view all the answers

<p>They only post content (B)</p> Signup and view all the answers

<p>Workaholism (B)</p> Signup and view all the answers

<p>Daily log (D)</p> Signup and view all the answers

<p>Verifying business ideas (D)</p> Signup and view all the answers

<p>Complaining (C)</p> Signup and view all the answers

<p>Networking (B)</p> Signup and view all the answers

<p>2 absences (D)</p> Signup and view all the answers

<p>50% (C)</p> Signup and view all the answers

<p>By forecasting needs on the market (C)</p> Signup and view all the answers

<p>They are middlemen between science and working people. (D)</p> Signup and view all the answers

<p>Minimizing industry competition (B)</p> Signup and view all the answers

<p>Consistent attendance and punctuality (A)</p> Signup and view all the answers

<p>5 points (C)</p> Signup and view all the answers

<p>Creating products and services independently (C)</p> Signup and view all the answers

<p>Potential for scalability (D)</p> Signup and view all the answers

<p>Startups prioritize innovation and ambition (D)</p> Signup and view all the answers

<p>Codifying business processes (D)</p> Signup and view all the answers

<p>The ability to standardize services (A)</p> Signup and view all the answers

<p>UX consulting agency (C)</p> Signup and view all the answers

<p>Advancements in technology (D)</p> Signup and view all the answers

<p>Ability to leverage digital channels (A)</p> Signup and view all the answers

<p>Startup goals extend beyond just earning profits (B)</p> Signup and view all the answers

<p>Talent is solely a gift that one is born with. (D)</p> Signup and view all the answers

<p>Avoiding challenges and being afraid of failure. (B)</p> Signup and view all the answers

<p>Effort can lead to improvement over time. (D)</p> Signup and view all the answers

<p>To accumulate capital (A)</p> Signup and view all the answers

<p>Being complacent and avoiding risks. (C)</p> Signup and view all the answers

<p>People are bound by their genetics, personality, or environment. (C)</p> Signup and view all the answers

<p>To bear risks that protect the public (A)</p> Signup and view all the answers

<p>As a learning opportunity that leads to growth. (D)</p> Signup and view all the answers

<p>Innovation and creative destruction (D)</p> Signup and view all the answers

<p>It is essential for effective selling and collaboration. (C)</p> Signup and view all the answers

<p>They react to price changes by adjusting production (C)</p> Signup and view all the answers

<p>Entrepreneurial activity is based on smart observations and arbitrage (D)</p> Signup and view all the answers

<p>They tend to give up easily when faced with difficulties. (D)</p> Signup and view all the answers

<p>Entrepreneurs exploit the working class for added value (A)</p> Signup and view all the answers

<p>They engage in uncertain ventures (D)</p> Signup and view all the answers

<p>A fair reward for creating value (A)</p> Signup and view all the answers

The ability to plan and manage your time effectively, prioritizing tasks and deadlines. It involves creating routines, setting goals, and staying organized.

A common non-entrepreneurial habit characterized by delaying tasks, often due to avoidance or lack of motivation.

A crucial entrepreneurial habit that involves identifying potential problems, analyzing their root causes, and finding creative solutions.

The process of identifying and developing new ideas or methods to improve existing products, services, or processes.

The ability to communicate thoughts, ideas, and information clearly and concisely, both verbally and in writing.

A person who identifies opportunities, takes risks, and manages resources to create something new and valuable. They are also known for taking risks, being innovative, and being passionate about their work.

Those who introduce changes and embrace new ideas and methods, often focusing on technological advancements and market demands.

People with income that is not fixed and relies on uncertain ventures. They tend to invest resources based on market forecasts, hoping to profit in the future.

Entrepreneurs bridge the gap between scientific innovation and the practical application of that innovation through working people. They utilize scientific breakthroughs to create products and services that meet the needs of the market.

Entrepreneurship is viewed as a profession involving: Acting on one's own behalf, utilizing technology and organizing work to create products and services, taking initiative to fill needs, organizing production and bearing risks, and adapting to market forces.

A digital marketing specialist is responsible for promoting businesses and products online. They use various digital channels like search engines, social media, and email marketing to reach target audiences, increase brand awareness, generate leads, and drive sales.

Entrepreneurs are criticized for exploiting workers, as their business model often hinges on employing labor to produce products or services.

The course focuses on active participation, with attendance heavily weighted. Missing classes can affect the final grade significantly.

A UX/UI designer focuses on how users interact with websites and applications. They design user interfaces (UI) that are visually appealing and easy to navigate, and user experiences (UX) that are enjoyable and effective.

A cloud architect designs and implements cloud computing strategies for businesses. They manage cloud infrastructure, ensure security, and optimize performance to meet organizational needs.

This course utilizes a digital platform (TEAMS) for communication, file sharing, and information access.

A data scientist analyzes large datasets to extract insights and patterns. They use their expertise in statistical analysis and machine learning to solve complex problems, improve decision-making, and create predictive models.

The digital environment refers to the vast collection of interconnected networks, devices, data, and technologies that have reshaped modern life and business. This includes the internet, mobile technologies, social media, cloud platforms, and emerging technologies.

The belief that our abilities are fixed and unchangeable.

The belief that our abilities can grow and improve with effort and experience.

A misconception that success is solely due to innate talent, ignoring the importance of practice and dedication.

The ability to take initiative and act upon an idea or vision.

The ability to manage risks effectively, considering potential downsides while pursuing opportunities.

The belief that we are solely determined by our genes, personality, or environment, often used as an excuse for inaction.

The ability to communicate effectively, build relationships, and collaborate efficiently within a team.

The ability to organize tasks and resources effectively to achieve desired outcomes.

The process of acquiring and using capital to gain an advantage over the working class, often seen as exploitative.

Guided by costs, entrepreneurs produce only when selling price covers expenses. Market dictates prices and entrepreneurs adapt production volume or profile to market changes.

Entrepreneurs take on risk, shielding the public from uncertainty. By pursuing ventures, they bear the potential downsides, allowing others to benefit from potential success.

Entrepreneurs drive innovation and disrupt established markets. Their creations lead to the replacement of old technologies and industries with new ones, fostering progress and economic transformation.

Entrepreneurs are adept at observing opportunities and analyzing future value of resources compared to their current costs. This sharp awareness and action are the essence of an arbitrage.

The work of an entrepreneur is viewed as a reward for creating value (Cantillon & Say). However, it can be seen as exploiting workers (Marx) or managing risk (Knight). Alternatively, innovation (Schumpeter) or market awareness (Kirzner) may drive profit.

Entrepreneurs are constantly seeking problems worth solving. By identifying unmet needs or inefficiencies, they develop innovative solutions.

Entrepreneurs are not just risk-takers, but also opportunity seekers. They identify unmet needs and develop solutions to fulfill them, creating value in the process.

A startup is a company focused on creating a new product or service, typically in the technology sector, with the goal of rapid growth and scalability.

Digital goods are products that are created and delivered through the internet. These can be software, music, or even digital services.

Scalability refers to a company's ability to grow its operations and output significantly, without major changes in its structure or costs.

Platforms for services allow companies to connect with customers and offer services through an online interface, like a website or app.

Venture capitalists are investors who provide funding to startups, often in exchange for equity, with the goal of high returns.

The music industry has seen disruption because of the rise of digital music streaming platforms, changing the way people consume music.

Digital startups often attract investors because of their potential to grow rapidly and disrupt existing markets.

A flower shop is less easy to scale than a UX consulting agency because it's harder to reach a wider audience and grow operations quickly.