Podcast
Questions and Answers
Entrepreneurship is the process of converting ideas into ______.
Entrepreneurship is the process of converting ideas into ______.
business
Entrepreneurial idea is a specific innovative way to satisfy ______, overcome a problem, or meet a challenge.
Entrepreneurial idea is a specific innovative way to satisfy ______, overcome a problem, or meet a challenge.
want
Entrepreneurial opportunity is a want, problem, or challenge that can be addressed, solved, and/or satisfied by an ______ initiative.
Entrepreneurial opportunity is a want, problem, or challenge that can be addressed, solved, and/or satisfied by an ______ initiative.
innovative
An entrepreneur is derived from the French verb entreprendre which means to ______.
An entrepreneur is derived from the French verb entreprendre which means to ______.
Entrepreneurs are innovators willing to take risks and generate new ideas to create unique and potentially ______ solutions.
Entrepreneurs are innovators willing to take risks and generate new ideas to create unique and potentially ______ solutions.
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Study Notes
Entrepreneurship
- The process of converting ideas into business opportunities by accepting risk and uncertainty
- Involves identifying new products and services that are needed in the market
- Requires providing the right products and services at the right time, place, and price to the right people
Entrepreneurial Idea
- A specific and innovative way to satisfy a want, overcome a problem, or meet a challenge
- Offers a unique solution to a particular need or issue
Entrepreneurial Opportunity
- A want, problem, or challenge that can be addressed, solved, and/or satisfied by an innovative initiative
- Represents a potential business opportunity that can be exploited for gain
Entrepreneur
- Derived from the French verb "entreprendre", meaning to undertake
- An innovator who takes risks and generates new ideas to create unique and potentially profitable solutions
- Someone who undertakes the risk of new enterprise
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