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Entrepreneurship Basics

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Questions and Answers

What is the primary role of an entrepreneur?

Following instructions meticulously in a new business endeavor

Taking on most of the risks and reaping most of the rewards in a new business venture (correct)

Avoiding any risk in the business environment

Providing financial support to an existing business

Where does the term 'entrepreneur' originate from?

Japanese expression for 'market innovator'

German word for 'business creator'

Latin term for 'risk-taker'

French verb enterprende, meaning 'to undertake' (correct)

Which personality factor is essential for entrepreneurship?

Initiative (correct)

Procrastination

Pessimism

Risk aversion

What do entrepreneurs do with unique ideas?

Generate profitable solutions to market needs Signup and view all the answers

Which environmental factor can impact entrepreneurship?

Political and economic conditions Signup and view all the answers

What does it mean to be proactive in entrepreneurship?

Actively identifying and seizing opportunities Signup and view all the answers

What is one of the characteristics of an Innovative Entrepreneur?

They constantly look for new ideas Signup and view all the answers

What drives Social Entrepreneurs according to the text?

Initiating changes and driving social innovation Signup and view all the answers

How can entrepreneurs increase their motivation as stated in the text?

Celebrate small goals and break down big goals into milestones Signup and view all the answers

Which type of entrepreneur is described as skeptical about making changes and only follows after being satisfied?

Fabian Entrepreneurs Signup and view all the answers

What is the role of creativity in entrepreneurship according to the text?

Creativity helps turn ideas into a real business Signup and view all the answers

How can entrepreneurs overcome daily obstacles according to the text?

Adopt a positive mindset to overcome negativity Signup and view all the answers