1-4 exam.docx

**01)Entrepreneurship Assessment Answer Key** **Question 1: **Starting up a new venture with a new idea is called entrepreneurship. 1. 2. **Question 2: **Entrepreneurship is an opportunity to create wealth 1. 2. **Question 3:** Which of these is an example of entrepreneurship? 1. 2. 3....

**01)Entrepreneurship Assessment Answer Key** **Question 1: **Starting up a new venture with a new idea is called entrepreneurship. 1. 2. **Question 2: **Entrepreneurship is an opportunity to create wealth 1. 2. **Question 3:** Which of these is an example of entrepreneurship? 1. 2. 3. 4. **Question 4: **Which of these is an example of entrepreneurship? 1. 2. 3. 4. **Question 5:** An entrepreneur is one who involved in a FEW of these activities -- managing, organizing, innovating, assuming risks, etc. 1. 2. **Question 6:** An entrepreneur does the following activities -- managing, organizing and makes all the decisions by himself. 1. 2. **Question 7:** An entrepreneur is a person who takes less risk, avoids experimentation. 1. 2. **Question 8:** A successful entrepreneur can become rich very fast. 1. 2. **Question 9:** All people who start up a business based on a new idea are always successful. 1. 2. **Question 10:** 92 % of the startups are successful within the first 3 years of starting? 1. 2. **02)Entrepreneurship and Entrepreneurial Character Assessments Answer Key** **Question 1: Does entrepreneurship involve..............................?** 1. 2. 3. 4. **Question 2:** Entrepreneurship involves organizing managing and assuming the risks pertaining to your enterprise etc. And an entrepreneur is one who is involved in ALL of these. 1. 2. **Question 3:** Building a business takes----------------- time than it takes to generate the idea for the business. 1. 2. 3. 4. **Question 4:** Entrepreneurs should not be greedy to grow big, as this needs patience as well. 1. 2. **Question 5:** Entrepreneurs need to have--------------------- to be successful. 1. 2. 3. 4. **Question 6:** ...........................is the specific tool of entrepreneurship? 1. 2. 3. 4. **Question 7:** Entrepreneurs need membership in physical communities where ideas can be shared and shaped. 1. 2. **Question 8:** How to inspire and create entrepreneurial leaders within the organizations? 1. 2. 3. 4. **Question 9:** Organizations are not entrepreneurial but people are entrepreneurial. 1. 2. **Question 10:** Entrepreneur framed as intentional iteration creates 1. 2. 3. 4. **03)Identifying Business Opportunities Assessments Answer Key** **Question 1: **An idea is defined as the content of cognition. 1. 2. **Question 2: **Every idea a possible opportunity? 1. 2. **Question 3:** How to identify whether an idea is a opportunity or not? 1. 2. 3. 4. **Question 4: **Why do we need to evaluate an idea? 1. 2. 3. 4. **Question 5: **Successful entrepreneurship requires the ability to balance technical knowledge and market knowledge 1. 2. **Question 6:** An electrician observed that grocery stores in his area are running successfully and wanted to open one too. He opened one but was not able to make any profits Why? 1. 2. 3. 4. **Question 7:** Cash flows simply put is the difference between the cash that flows in and cash that flows out 1. 2. **Question 8: **Upfront capital and R& D requirement costs should be high while evaluating whether an idea is an opportunity or not. 1. 2. **Question 9: **The market should be large and growing while evaluating whether an idea is an opportunity or not. 1. 2. **Question 10: **The venture/business should be of high strategic value to a potential acquirer. 1. 2.