Chapter 1.2

Question 1

Systematic and rational way of providing an answer to a question.

Answer 1

Critical Thinking

Question 2

Bring about new ideas. The intent of creative thinking is not to provide answers but to ask questions that can lead to discovery and change.

Answer 2

Creative Thinking

Question 3

Thought processes that assess current situation that can be useful in the formulation of plans for the future.

Answer 3

Strategic Thinking

Question 4

refers to the ability of individuals to be involved in the process of producing several ways of decision-making based on the identification and management of changes to their environment.

Answer 4

Cognitive Adaptability

Question 5

Required qualities for cognitive adaptability

Answer 5

Flexibility, Dynamism, and Self control

Question 6

can be described as uncertain situations and developments that can increase the probability of loss or business failure.

Answer 6

Risks

Question 7

can originate from a variety of resources, business risks can be generally categorized into internal and external factors.

Answer 7

Hazards

Question 8

pertain to dangers coming from the management of resources of a business enterprise that may imperil its operations.

Answer 8

Internal Risks

Question 9

are threats coming from various environments outside the business firm

Answer 9

External Risks

Question 10

entrepreneurial discipline is often referred to as

Answer 10

entrepreneurial process