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Questions and Answers
According to Joseph Schumpeter, entrepreneurs are motivated to innovate and create new and better ways in business.
According to Joseph Schumpeter, entrepreneurs are motivated to innovate and create new and better ways in business.
- Entrepreneurs are motivated by social recognition
- Entrepreneurs are motivated by financial incentives
- Entrepreneurs are motivated by personal satisfaction (correct)
- Entrepreneurs are motivated by competition
What is one of the key competencies of an entrepreneur according to the text?
What is one of the key competencies of an entrepreneur according to the text?
- Risk aversion
- Procrastination
- Analytical thinking
- Persuasion (correct)
According to Peter Drucker, what does an entrepreneur do in response to change?
According to Peter Drucker, what does an entrepreneur do in response to change?
- Resist it
- Avoid it
- Adapt to it (correct)
- Ignore it
What is one of the risks that entrepreneurs need to consider according to the text?
What is one of the risks that entrepreneurs need to consider according to the text?
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What is the main motivation for an entrepreneur according to the text?
What is the main motivation for an entrepreneur according to the text?
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Study Notes
Entrepreneurship
- Entrepreneurs are motivated to innovate and create new and better ways in business, according to Joseph Schumpeter.
- One key competency of an entrepreneur is innovation, as they strive to create new and better business methods.
- In response to change, entrepreneurs exploit opportunities, according to Peter Drucker.
- One of the risks entrepreneurs need to consider is the uncertainty of market response to their innovative ideas.
- The main motivation for an entrepreneur is to create new and better ways in business, driven by innovation and a desire to exploit opportunities.
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