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

What distinguishes a techno entrepreneur from other types?

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

Flashcards

Entrepreneur

A person who identifies a market gap and starts an independent business for profit.

Intrapreneur

Someone who uses creative skills to grow a business within an existing company, while having a fixed salary.

Social Entrepreneur

An entrepreneur primarily focused on solving social problems, not necessarily profit.

Environmental Scanning

Identifying market opportunities and threats and understanding competitors to make business strategies.

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Entrepreneur Qualities

Risk tolerance, responsibility, creativity, determination, strategic thinking, good leadership, and passion.

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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.