Sikalieh 11 Characteristics of Entrepreneurship
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Questions and Answers

What is the first step in the entrepreneurial process?

  • Converting an idea into reality
  • Identifying a new market
  • Recognizing an opportunity to create something new (correct)
  • Creating a new product or service

Which individual is NOT considered an entrepreneur according to Dr. Sikalieh?

  • Retrenchee using old tyres in a new way
  • Young graduate
  • Retiree
  • University lecturer (correct)

What does the micro perspective in entrepreneurship focus on?

  • Individual behavior and thoughts (correct)
  • Using new resources/methods/techniques
  • Recognizing opportunities for new products/services
  • Creating new markets

Which statement best describes the macro perspective in entrepreneurship?

<p>Understanding environmental factors influencing the entrepreneurial process (C)</p> Signup and view all the answers

What are the phases involved in the entrepreneurial process according to Dr. Sikalieh?

<p>Idea generation, resource assembly, venture launching (A)</p> Signup and view all the answers

Which of the following is considered a group-level variable in the entrepreneurial process according to Dr. Sikalieh?

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

What is emphasized as the key to entrepreneurial success by Dr. Sikalieh?

<p>Interaction of individual, group, and societal variables (A)</p> Signup and view all the answers

In the entrepreneurial process, what factors interact to influence every action and decision taken by entrepreneurs?

<p>Individual, group, and societal variables (C)</p> Signup and view all the answers

What defines the essence of entrepreneurship according to the text?

<p>The intersection of valuable opportunities and enterprising individuals (A)</p> Signup and view all the answers

Which type of start-up rarely goes public and has little outside investor interest?

<p>Foundation companies (A)</p> Signup and view all the answers

What skills are considered necessary for entrepreneurship according to the text?

<p>Technical, human, and conceptual skills (B)</p> Signup and view all the answers

In the context of social entrepreneurship, what does social entrepreneurship refer to?

<p>Initiatives aimed at creating social impact alongside financial returns (A)</p> Signup and view all the answers
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