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Questions and Answers
What is Administrative Entrepreneurship focused on?
Which of the following tasks is an example of Administrative Entrepreneurship?
What does Opportunistic Entrepreneurship emphasize?
In the context of entrepreneurship, what does the phrase 'Hit the iron when it is hot' signify?
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Which country's government considers old-age pension scheme as an example of Administrative Entrepreneurship?
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What aspect does Administrative Entrepreneurship help firms achieve in the competitive marketplace?
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What is the focus of opportunistic entrepreneurship?
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Which entrepreneur exemplifies Acquisitive Entrepreneurship?
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What does Acquisitive Entrepreneurship equip the business with?
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Which type of entrepreneurship focuses on generating new ideas within the organization?
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What encourages entrepreneurs to figure out new things all the time?
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Which entrepreneur exemplifies Incubative Entrepreneurship based on the text?
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Study Notes
Administrative Entrepreneurship
- Focused on organizational efficiency and innovation through improving administrative processes.
- Involves tasks such as developing systems that enhance productivity and resource allocation.
Example Task of Administrative Entrepreneurship
- Implementing efficient management practices to streamline operations is an example of this type of entrepreneurship.
Opportunistic Entrepreneurship
- Emphasizes adaptability and responsiveness to market changes and opportunities.
- Encourages seizing emerging trends and market gaps for profit generation.
Phrase Significance: 'Hit the iron when it is hot'
- Signifies the importance of acting swiftly during favorable conditions or opportunities in business.
Administrative Entrepreneurship and Old-Age Pension Scheme
- The Indian government considers its old-age pension scheme as an example of Administrative Entrepreneurship.
Competitive Marketplace and Administrative Entrepreneurship
- Helps firms gain a competitive edge by improving operational effectiveness and fostering innovation.
Focus of Opportunistic Entrepreneurship
- Primarily concentrates on taking advantage of immediate opportunities as they arise.
Entrepreneur Exemplifying Acquisitive Entrepreneurship
- Donald Trump is an example of an entrepreneur known for his Acquisitive Entrepreneurship approach.
Benefits of Acquisitive Entrepreneurship
- Equips businesses with the ability to leverage acquisitions for expansion and market dominance.
Type of Entrepreneurship: Generating New Ideas
- Known as Intrapreneurship, it focuses on generating new ideas within the framework of an existing organization.
Encouragement for Entrepreneurs to Innovate
- A competitive environment and the need for continuous improvement stimulate entrepreneurs to discover new solutions.
Entrepreneur Exemplifying Incubative Entrepreneurship
- Elon Musk is highlighted as an entrepreneur representing Incubative Entrepreneurship, characterized by fostering ideas and projects in developmental stages.
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Description
Explore 26 different types of entrepreneurship with examples, including Administrative Entrepreneurship. Learn about the various categories and functions of entrepreneurial activities in this quiz.
