Relevance of Entrepreneurship to an Organization
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Questions and Answers

What does the word 'entrepreneur' mean?

  • To improve economic status
  • To develop managerial skills
  • To improve standard of living
  • To undertake (correct)

    • What do entrepreneurs undertake according to the text?

  • Developing managerial capabilities
  • Improving standard of living
  • Creating organizations
  • Risk of enterprise (correct)

    • What does 'initiative' mean in the context of personality factors affecting entrepreneurship?

  • Improving standard of living
  • Developing managerial capabilities
  • Doing things even before being told (correct)
  • Means of economic development

    • What is one of the benefits an entrepreneur gets according to the text?

    <p>Development of managerial skills</p> Signup and view all the answers

    What is entrepreneurship pinpointing to?

    <p>The risk of enterprise</p> Signup and view all the answers

    What is the main focus of entrepreneurs according to the text?

    <p>Undertaking risks</p> Signup and view all the answers

    What does it mean to be a 'Risk-taker' in entrepreneurship?

    <p>Being willing to take calculated risks in business ventures</p> Signup and view all the answers

    What is the role of an 'Opportunity seeker' in entrepreneurship?

    <p>Being the first to identify and seize business opportunities</p> Signup and view all the answers

    What characterizes an 'Innovative' entrepreneur?

    <p>Constantly looking for new ideas and being creative</p> Signup and view all the answers

    What is the primary focus of 'Imitating Entrepreneurs'?

    <p>Following the ideas of other entrepreneurs without creating new things</p> Signup and view all the answers

    What characterizes 'Drone Entrepreneurs'?

    <p>Living on the labor of others and being conservative in business practices</p> Signup and view all the answers

    What is the role of a 'Business Consultant' in the field of entrepreneurship?

    <p>Providing expertise and advice in the field of entrepreneurship</p> Signup and view all the answers

    What does it mean for entrepreneurship to be an 'Economic and Dynamic Activity'?

    <p>Involves the creation of an enterprise with a view to creating value or wealth by using resources effectively</p> Signup and view all the answers

    What does it mean for an entrepreneur to be 'Decisive'?

    <p>Being firm in making decisions without hesitation or indecisiveness</p> Signup and view all the answers

    What is the primary meaning of the word 'entrepreneur'?

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

    Which of the following best describes the concept of 'Entrepreneurship'?

    <p>Generating unique ideas and taking risks for profitable solutions</p> Signup and view all the answers

    What is the significance of being a 'Planner' in entrepreneurship?

    <p>Making plans before doing things and ensuring they are monitored effectively</p> Signup and view all the answers

    What is the role of 'Initiative' in personality factors affecting entrepreneurship?

    <p>Doing things even before being told</p> Signup and view all the answers

    How does entrepreneurship contribute to economic development according to the text?

    <p>By improving the economic status of the society</p> Signup and view all the answers

    What characterizes entrepreneurs as mentioned in the text?

    <p>Innovators willing to take risks and generate unique ideas</p> Signup and view all the answers

    What is the meaning of 'Undertake' in the context of entrepreneurship?

    <p>To initiate or take on a task or responsibility</p> Signup and view all the answers

    What distinguishes an Innovative Entrepreneur?

    <p>They are those who always make new things by thinking of new ideas.</p> Signup and view all the answers

    What is the primary focus of 'Imitating Entrepreneurs'?

    <p>They don’t create new things but only follow the ideas of other entrepreneurs.</p> Signup and view all the answers

    What characterizes 'Drone Entrepreneurs'?

    <p>They are those who live on the labor of others.</p> Signup and view all the answers

    What does it mean to be a 'Risk-taker' in entrepreneurship?

    <p>The entrepreneur has the courage to pursue business ideas.</p> Signup and view all the answers

    What is the role of an 'Opportunity seeker' in entrepreneurship?

    <p>The entrepreneur must have the ability to be the first to see business chances.</p> Signup and view all the answers

    What does it mean for an entrepreneur to be 'Decisive'?

    <p>The entrepreneur must be firm in making decisions.</p> Signup and view all the answers

    What characterizes an 'Innovative' entrepreneur?

    <p>They are those who always make new things by thinking of new ideas.</p> Signup and view all the answers

    What is the significance of being a 'Planner' in entrepreneurship?

    <p>The entrepreneur makes plans before doing things and does not fail to monitor it.</p> Signup and view all the answers

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