Introduction to Entrepreneurship
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Questions and Answers

What does entrepreneurship involve?

  • Creating and implementing new ideas and creative solutions (correct)
  • Operating a social enterprise to help the disadvantaged community
  • Managing an ordinary small business
  • Using technology as the core of the business model

    • Which category does a small street food stall fall into?

  • Social Entrepreneur
  • Technopreneur
  • Ordinary Small Business (correct)
  • Intrapreneur

    • What defines an Ordinary Small Business?

  • Owned by one person with a limited workforce of not more than 20 persons
  • Managed and operated by an owner who is not an advocate of entrepreneurship principles (correct)
  • Hopping from one company to another to act as an innovation champion
  • Taking advantage of social problems to help the disadvantaged community

    • What is the main focus of a Social Entrepreneur?

    <p>Taking advantage of the country’s social problems to help the disadvantaged community (D)</p> Signup and view all the answers

    What is the role of a Technopreneur?

    <p>To put technology at the core of the business model (C)</p> Signup and view all the answers

    How is an 'entrepreneur' defined in the American Heritage Desk Dictionary?

    <p>A person who organizes, operates, and assumes the risk of a business venture (A)</p> Signup and view all the answers

    What is the meaning of the French word 'entreprendre'?

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

    How does Shane (2003) define entrepreneurship?

    <p>Carrying out new combinations of firm organization (B)</p> Signup and view all the answers

    According to Knight (1921), what characterizes entrepreneurship?

    <p>Having profits from bearing uncertainty and risk (D)</p> Signup and view all the answers

    What does the term 'enterprise' refer to in the context of entrepreneurship?

    <p>The self-owned business venture operated by an entrepreneur (B)</p> Signup and view all the answers

    What is the main connotation of the word 'entrepreneur'?

    <p>Starting a new business (B)</p> Signup and view all the answers

    What does the term 'entrepreneurship' involve, based on the text?

    <p>Art of observing correct practices in managing and operating self-owned business (B)</p> Signup and view all the answers

    How does the American Heritage Desk Dictionary define an entrepreneur?

    <p>Person who organizes and assumes risk in any venture (D)</p> Signup and view all the answers

    According to Schumpeter (1934), what characterizes entrepreneurship?

    <p>Introduction of new products and services (C)</p> Signup and view all the answers

    What is Knight's (1921) definition of entrepreneurship mainly focused on?

    <p>Having profits from bearing uncertainty and risk (B)</p> Signup and view all the answers

    What is the primary focus of a Technopreneur?

    <p>Utilizing technology to address social problems (D)</p> Signup and view all the answers

    How does Shane (2003) define entrepreneurship?

    <p>The dynamic process of vision, change, and creation requiring energy and passion (B)</p> Signup and view all the answers

    What sets apart an Ordinary Small Business from a Small Business?

    <p>The lack of adoption and practice of entrepreneurial principles (C)</p> Signup and view all the answers

    What characterizes the field of expertise of an Intrapreneur?

    <p>Thinking, establishing, and running a new big idea or project in a large company (C)</p> Signup and view all the answers

    According to Kuratko (2009), what does entrepreneurship involve?

    <p>The discovery, evaluation, and exploitation of opportunities to introduce new goods and services (D)</p> Signup and view all the answers

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