Entrepreneurship Key Concepts
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Questions and Answers

Which of the following reflects my competencies? What type of entrepreneur am I?

  • Serial
  • Opportunist
  • Nascent
  • Craft (correct)

One of the following is a sociological reason for pursuing entrepreneurship:

  • Need for satisfaction
  • Middle of things
  • Locus of control
  • Between things (correct)

Applying creative ideas to useful applications is called:

  • Creativity (correct)
  • Invention
  • Innovation
  • Talent

One of the following is a purpose of a business plan:

<p>A call to focus (C)</p> Signup and view all the answers

Which of the following rules is applicable to focus group discussions?

<p>All members must contribute (D)</p> Signup and view all the answers

Creativity occurs at the intersection of all the following factors except:

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

The word entrepreneur is derived from a French word entreprendre, which means:

<p>To undertake (C)</p> Signup and view all the answers

Innovation can best be defined as the A.evolution of new ideas B.generation of new ideas C.opposite of creativity D.successful exploitation of new ideas

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Innovation can best be defined as the A.evolution of new ideas B.generation of new ideas C.opposite of creativity D.successful exploitation of new ideas

<p>Opposite of creativity (C)</p> Signup and view all the answers

Flashcards

Sociological Reasons for Entrepreneurship

External factors like cultural norms or social expectations that drive people to start businesses.

Innovation

The practical application of creative ideas to create something useful or valuable.

Purpose of a Business Plan

A roadmap that outlines the goals, strategies, and financial projections for a business.

Respect in Focus Groups

Treating all participants with consideration and valuing their input during discussions.

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Domain of Knowledge

The depth of expertise in a specific area.

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Entrepreneur Definition

The French origin of the word 'entrepreneur' meaning 'to undertake'.

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Study Notes

  • Craft entrepreneur reflects competencies.
  • Between things is a sociological reason for pursuing entrepreneurship.
  • Applying creative ideas to useful applications is called innovation.
  • A call to focus is a purpose of a business plan.
  • Ensure respect among participants is applicable to focus group discussions.
  • Creativity occurs at the intersection of all factors except individual dispositions.
  • The word entrepreneur is derived from the French word entreprendre, which means to undertake.

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Description

Explore key concepts in entrepreneurship, including the competencies of a craft entrepreneur, sociological reasons for pursuing entrepreneurship, and the role of innovation. Learn about the importance of a business plan and the dynamics of focus group discussions. Understand the origins of the word 'entrepreneur'.

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