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

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

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

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

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

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