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 (B)</p> Signup and view all the answers

What is entrepreneurship pinpointing to?

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

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

<p>Undertaking risks (A)</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 (A)</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 (B)</p> Signup and view all the answers

What characterizes an 'Innovative' entrepreneur?

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

What characterizes 'Drone Entrepreneurs'?

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

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

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

What characterizes 'Drone Entrepreneurs'?

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

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