29 Questions
What is the definition of an entrepreneur?
A person who undertakes financial risks in managing a business
In the healthcare field, what role does a nurse entrepreneur play?
Develops businesses through creativity and problem-solving
According to the Merriam-webster dictionary, what does an entrepreneur do?
Organizes, manages, and assumes the risks of a business
Which of the following best describes the term 'entrepreneurship'?
The process of organizing and operating a business with risks involved
What distinguishes a nurse entrepreneur from a traditional nurse?
Using training and expertise in creating businesses
What is the primary focus of the StartUp Village organization?
Developing and selling healthcare products and devices
Which of the following is not mentioned as a trend affecting the StartUp Village organization?
Changing attitudes about the nursing profession
What type of services does a proprietor of a nursing business offer?
Direct care, educational, research, administrative or consultative services
Which of the following challenges is not faced by the StartUp Village organization?
Declining demand for healthcare services
What is the purpose of 'costing' in the context of the StartUp Village organization?
All of the above
Which of the following is not mentioned as a trend affecting the StartUp Village organization?
Increased use of 'outsourced' services by hospitals
What advice does the text provide to individuals associated with the StartUp Village organization?
Keep fighting in building your dream business
What is a key aspect of an entrepreneurial mindset?
Ability to identify and exploit new opportunities
What type of entrepreneurship does the case scenario suggest?
Opportunity-driven entrepreneurship
What is the key skill that an entrepreneurial mindset develops, according to the text?
Capacity to recognize and act on opportunities
What is the primary focus of the content covered in the text?
Cultivating an entrepreneurial mindset
What is a key aspect of an entrepreneurial mindset?
Capacity to assemble necessary resources
What is the main purpose of the case scenario presented in the text?
To prompt students to identify a potential entrepreneurial opportunity
What is the primary purpose of pricing as a process?
To determine the value of a product or service
Which type of cost is directly related to the manufacturing of a product?
Direct Costs
Which type of cost does not change despite the level of production?
Fixed Costs
If the demand for a commodity is unitary elastic to price, what is the relationship between the demand and price changes?
The demand changes at the same rate as the price fluctuations
What is the relationship between price and commodity demand when the demand is elastic to price?
The demand changes significantly in response to a slight price change
Which type of cost refers to the daily operations of a company?
Operating Costs
What is the primary focus of intrapreneurship?
Developing new business ventures within an existing corporation
Which type of entrepreneurship is primarily concerned with preserving and promoting cultural values and traditions?
Indigenous entrepreneurship
What distinguishes a franchise business from a small business?
A franchise operates under a certain brand and is bound by a license and contract for profit shares
Which type of entrepreneurship is specifically focused on addressing social issues?
Social entrepreneurship
What are entrepreneurial knowledge structures used for?
Identifying and taking advantage of business opportunities
Learn about the definition of entrepreneurship as well as examples of famous entrepreneurs like Bill Gates and Henry Sy. Explore the concept of nurse entrepreneurs in the healthcare industry.
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