Entrepreneurship Lecture 2: Entrepreneurial Motivations and Global Indicators
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Questions and Answers

According to the lecture, what are the main indicators to consider when choosing a country to start a business?

  • Tax rates, labor costs, and infrastructure development
  • Ease of doing business, global regulatory behavior, and digital competitiveness (correct)
  • Global economic growth, political stability, and cultural diversity
  • Income inequality, environmental policies, and social welfare programs

    • What does the GEM report compare when discussing entrepreneurship?

  • Opportunity entrepreneurship and necessity entrepreneurship (correct)
  • Intrinsic motivations and extrinsic motivations
  • Government support for startups and corporate investment in new ventures
  • Entrepreneurial motivations and social entrepreneurship

    • What do Barringer and Ireland categorize as types of entrepreneurial firms?

  • Non-profit organizations, government agencies, and educational institutions
  • Family-owned businesses, publicly traded companies, and joint ventures
  • Salary substitute firms, lifestyle firms, and entrepreneurial firms (correct)
  • Tech startups, service firms, and manufacturing companies

    • What is the main focus of recent literature reviews on entrepreneurial motivations?

    <p>Intrinsic and extrinsic motivations</p> Signup and view all the answers

    According to the lecture, why are entrepreneurial motivations important?

    <p>They correlate with where entrepreneurial ideas come from and impact subsequent business decisions</p> Signup and view all the answers

    What does social entrepreneurship aim to achieve?

    <p>Balancing financial stability with social impact</p> Signup and view all the answers

    What are the main challenges faced by social entrepreneurs?

    <p>Funding (monetising) and burnout</p> Signup and view all the answers

    Based on the case study of Elvis & Kresse, why might it be considered a social enterprise?

    <p>It turns waste into value while balancing financial stability with social impact</p> Signup and view all the answers

    What is the main focus of Elvis & Kresse's social enterprise?

    <p>Rescuing raw materials and transforming them into luxury accessories</p> Signup and view all the answers

    Why do many entrepreneurs want to start their own business?

    <p>To pursue financial rewards</p> Signup and view all the answers

    What percentage of the profits does Elvis & Kresse donate to charity?

    <p>50%</p> Signup and view all the answers

    What is a common motivation for entrepreneurs to start their own business?

    <p>To be their own boss</p> Signup and view all the answers

    What is one of the key reasons for Elvis & Kresse being considered a social enterprise?

    <p>Donating 50% of profits to charity</p> Signup and view all the answers

    What type of individuals can benefit from starting a business part-time?

    <p>Those seeking valuable experience and additional income</p> Signup and view all the answers

    Which organization benefits from the profits donated by Elvis & Kresse?

    <p>The Fire Fighters Charity</p> Signup and view all the answers

    What is the primary focus of sustainable fashion?

    <p>To minimize environmental impact and promote social responsibility</p> Signup and view all the answers

    What is the main reason why entrepreneurs pursue their own ideas?

    <p>To experience tremendous satisfaction</p> Signup and view all the answers

    What is the goal of a typical entrepreneur according to the text?

    <p>Making a profit and increasing the value of a company</p> Signup and view all the answers

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