Questions and Answers
Entrepreneur means 'to undertake.'
True
Entrepreneurship is a process of actions of an entrepreneur who is always in search of opportunities.
True
The greatest significance of entrepreneurship is to help identify and develop the managerial capabilities of entrepreneurs.
True
Entrepreneurship will lead to the creation of organizations.
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Coward people will become successful entrepreneurs.
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Entrepreneurship can improve the life of the entrepreneur only.
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An entrepreneur is a 'Risk Taker.'
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Entrepreneurship is not an economic activity.
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Entrepreneurs are innovative.
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Profit potential is the compensation of the entrepreneur.
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An entrepreneur can become a business consultant.
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An entrepreneur can also be a researcher.
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An entrepreneur can also become a salesman.
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The entrepreneur could easily see the results of his efforts.
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Entrepreneurship graduates can become business reporters.
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What are the types of entrepreneurs?
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What is one personality factor that affects entrepreneurship?
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What does a Social Entrepreneur do?
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Study Notes
Introduction to Entrepreneurship
- "Entrepreneur" originates from the French verb "entreprendre," meaning "to undertake."
- Entrepreneurship involves actions by individuals who actively seek out opportunities.
- Development of managerial capabilities is a key benefit for entrepreneurs.
Relevance of Entrepreneurship
- Entrepreneurship aids in creating organizations, contributing to the economy.
- Enhances the standard of living and boosts economic development for individuals and communities.
Factors Affecting Entrepreneurship
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Personality traits:
- Initiative: Taking action without prompting.
- Proactivity: Identifying and seizing opportunities.
- Problem Solver: Addressing challenges effectively.
- Perseverance: Remaining steadfast in the face of challenges.
- Persuasion: Convincing others to buy or engage.
- Planning: Formulating strategies before executing actions.
Types of Entrepreneurs
- Innovative Entrepreneurs: Generate new ideas and improvements.
- Imitating Entrepreneurs: Follow existing ideas rather than creating new ones.
- Fabian Entrepreneurs: Hesitate to change; prefer to wait until they are confident.
- Drone Entrepreneurs: Depend on others' labor; resistant to change, even when negative.
- Social Entrepreneurs: Drive change for social good in areas like education and health.
Career Opportunities in Entrepreneurship
- Business Consultant: Provides advice based on expertise.
- Teacher: Educates others about entrepreneurial principles.
- Researcher: Conducts market research and data analysis.
- Sales: Engages in selling products or services.
- Business Reporter: Reports on business trends and insights.
Self-Assessment of Entrepreneurial Qualities
- Evaluate personal attributes against entrepreneurial characteristics to identify strengths and areas for improvement.
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Description
This pre-test covers essential topics in Entrepreneurship including market recognition, market research, and the 7 P's of marketing. Assess your understanding of these concepts by determining whether the statements provided are true or false. Perfect for senior high school students at St. John Paul II College.
