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Entrepreneurship Definitions

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Questions and Answers

What is the main characteristic of an entrepreneur according to Joseph Alois Schumpeter?

Taking financial risks

Being motivated by profit

Exercising initiative (correct)

Measuring success through profit

In the entrepreneurial process, what key variable is essential?

Entrepreneur

Organization

Resources

Opportunity (correct)

What is a common characteristic of Craft Entrepreneurs?

Opportunist

Growth oriented (correct)

Income oriented

Nascent

What stage of the Entrepreneurial Process involves idea generation and opportunity recognition?

Idea Generation Signup and view all the answers

How are entrepreneurs classified according to one of the provided texts?

Serial Signup and view all the answers

What is Entrepreneurial Personality characterized by?

Specific beliefs, attitudes, and behaviors Signup and view all the answers

Which approach focuses on the distinction between internal and external locus of control in entrepreneurship?

Psychological Approach Signup and view all the answers

What is a key reason for people becoming entrepreneurs?

High Need for Achievement Signup and view all the answers

What pulls individuals towards entrepreneurship in terms of sociological reasons?

Positive pull from relatives & friends Signup and view all the answers

Which factor influences the situational perceptions of approach feasibility in entrepreneurship?

Success stories Signup and view all the answers