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Introduction to Entrepreneurship

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Questions and Answers

What is an entrepreneur according to the definition?

A person who only plans and organizes resources for a business

A person who only manages a business on a long-term basis

A person who only innovates products and services

A person who plans, organizes, and manages resources to bring a new enterprise into existence (correct)

What makes a product valuable according to the text?

When it is expensive

When it solves a problem and is cost-effective (correct)

When it is marketed well

When it is produced quickly

What is one of the rewards of being an entrepreneur?

Having a 9-to-5 job

Earning a steady income

The wellbeing of your consumer (correct)

Becoming a CEO

What is one of the risks of being an entrepreneur?

Having to work long hours (B) Signup and view all the answers

What is one of the importance of entrepreneurship to a country?

It provides experience and work for people (C) Signup and view all the answers

What is entrepreneurship according to the text?

A process of innovating new methods to produce products and services by infusing all resources (D) Signup and view all the answers

What is a systematic innovation according to Peter Dracker?

A purposeful search for changes (A) Signup and view all the answers

What is a characteristic of a Founder or Pure Entrepreneur?

They conceptualize a business plan and put in effort to make it a reality (D) Signup and view all the answers

What motivates an Induced Entrepreneur?

Government policies, unemployment, and family support (C) Signup and view all the answers

What type of entrepreneur is involved in manufacturing a product?

Industrial Entrepreneur (C) Signup and view all the answers

What is a characteristic of a First Generation Entrepreneur?

They start a business by innovative skill (C) Signup and view all the answers

What is a characteristic of a Corporate Entrepreneur?

They demonstrate innovative skill in organizing and managing (A) Signup and view all the answers