Questions and Answers
Match the following terms with their definitions:
Entrepreneurship = The process of establishing and scaling growth-oriented companies in their early years Startup = A business organization formed by an entrepreneur or a group of entrepreneurs to coordinate the entrepreneurship process under a common ownership structure Small business owner = Individuals who operate businesses with a focus on maintaining a certain size rather than rapid growth Co-founder = Entrepreneurs who partner with others to jointly found companies
Match the following characteristics with their descriptions:
Growth-oriented companies = Startups that aim for growth either as a stated business objective or as a result of success Temporary nature = Inherent feature of startups as they may go through various stages in a company's lifecycle and may not be permanent Risk-taking = Involves engaging in entrepreneurship often under considerable uncertainty and financial risk Means of production = Includes capital and labor organized by entrepreneurs to engage in entrepreneurship
Match the following actions with their role in entrepreneurship:
Exploiting commercial opportunities = Key action undertaken by entrepreneurs to bring new products or processes to the market or improve existing ones Partnering with existing organizations = Collaborating with corporate or university spin-outs as a way to engage in entrepreneurship Desire or ability to grow = Characteristic that differentiates entrepreneurial ventures from small businesses Starting up stage = One of potentially many stages in a company's lifecycle that must end, marking the temporary nature of startups
