Entrepreneurship Basics and Types
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Entrepreneurship Basics and Types

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Questions and Answers

What is a defining characteristic of an entrepreneur?

  • Preference for routine
  • Salary security
  • Reliance on employer
  • Risk tolerance (correct)
  • Which type of entrepreneur is primarily focused on addressing social issues?

  • Social entrepreneur (correct)
  • Eco entrepreneur
  • Techno entrepreneur
  • Tender entrepreneur
  • What is a critical aspect of environmental scanning for entrepreneurs?

  • Recognizing market trends and competitors (correct)
  • Choosing business location
  • Setting employee salaries
  • Identifying new employees
  • Which quality is least likely to be associated with successful entrepreneurs?

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

    What distinguishes a techno entrepreneur from other types?

    <p>Use of technology to solve problems</p> Signup and view all the answers

    Study Notes

    Entrepreneur as Leader

    • Identify a gap in the market and take the risk to organize an independent business for profit
    • Intrapreneur: Uses creative skills to grow a business for a company for a secure monthly salary

    Qualities of an Entrepreneur

    • Risk tolerance
    • Responsible
    • Creative
    • Determination
    • Strategic
    • Good leadership skills
    • Passionate

    Types of Entrepreneur

    • Social: Wants to solve social issues, not interested in profit
    • Techno: Uses technology to solve problems (e.g., Uber)
    • Eco: Saves the environment, makes a profit but does not harm the environment
    • Tender: Obtains tenders from the government or private businesses to provide specific services (e.g., building a road)

    Environmental Scanning

    • Identifies threats
    • Identifies gaps in the market and opportunities
    • Must know about competitors
    • Allows entrepreneurs to create long-term or short-term strategies

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    Description

    This quiz explores the essential qualities of an entrepreneur, different types of entrepreneurs, and the concept of environmental scanning. Test your understanding of what it takes to lead a successful business and recognize opportunities in the market.

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