comm 101 - chapter 5

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What is an entrepreneur?

Someone who takes risks to create and manage a new business (correct)

A person who works for a salary at a corporation

An individual who invests money in stocks

A government official responsible for business regulations

What does the term 'multipreneur' mean?

A person who runs multiple businesses simultaneously (correct)

An entrepreneur with multiple failures

A business owner with one successful enterprise

A type of investment strategy

What is the role of intrapreneurs within an organization?

They manage all external business operations.

apply their entrepreneurial spirit within large corporations rather than starting companies of their own (correct)

They are primarily responsible for financial auditing.

They handle employee training and development.

What does 'entrepreneurial spirit' mean?

A passion for innovation and taking risks Signup and view all the answers

What are the three major areas entrepreneurial opportunities come from? (Select all that apply)

Economic changes Signup and view all the answers

What are three options for starting a business? (Select all that apply)

Start your own Signup and view all the answers

A classic entrepreneur:

accepts the risks that come with starting their own company based on innovative ideas Signup and view all the answers

What is a business plan?

A document that describes the opportunity, goals and plans for a business Signup and view all the answers

What does a business model explain?

How the business will make money Signup and view all the answers

Which of the following are characteristics of a small business? (Select all that apply)

Not a dominant company and based locally Signup and view all the answers

What is debt financing?

Borrowed funds that must be repaid with interest over a stated period Signup and view all the answers

What is equity financing?

Funds raised through the sale of shares in the business Signup and view all the answers

What is an angel investor?

private investors who provide early stage financing for start up businesses in exchange for ownership Signup and view all the answers

What is venture capital?

Money invested in high growth companies that have significant potential, often receiving an ownership interest and a voice in management Signup and view all the answers

Crowdfunding is when you:

Invite people to contribute to a business or project via an online platform, instead of ownership, contributors receive a reward depending on level of contribution. Signup and view all the answers

Franchises are best defined as which of the following?

A type of business model where one party grants the rights to use its brand and sell its products to another party Signup and view all the answers

What role does the franchisor play in a franchise agreement?

Granting a franchise, supplying the product concept Signup and view all the answers

What is a franchisee?

A person or organization that purchases a franchise and sells the goods or services of the franchisor in a certain geographic area Signup and view all the answers

comm 101 - chapter 5

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