Entrepreneur

Question 1

RELEVANCE OF ENTREPRENEURSHIP TO AN ORGANIZATION

Answer 1

Development of Managerial Capabilities
Creation of Organizations
Improving Standard of Living
Means of Economic Development

Question 2

this means that one of the benefits an entrepreneur gets is to develop his managerial skills.

Answer 2

Development of Managerial Capabilities

Question 3

which means that because of entrepreneurship many organizations will exist.

Answer 3

Creation of Organizations

Question 4

this means that entrepreneurship can lift up the economic status of an individual.

Answer 4

Improving Standard of Living

Question 5

this means that not only the life of the entrepreneur is improved but also the society where the business is located.

Answer 5

Means of Economic Development

Question 6

The word “entrepreneur” was derived from the French verb entreprendre, which means “to undertake.

Question 7

This is pinpointing to those who “undertake” the risk of enterprise.

Answer 7

entrepreneur

Question 8

The enterprise is created by an entrepreneur and the process is called

Answer 8

Entrepreneurship

Question 9

Entrepreneurs are innovators. They are willing to take the risks and generate unique ideas that can provide profitable solutions to the needs of the market and the society.

Question 10

Factors Affecting Entrepreneurship

Answer 10

*Personality Factors which include:
-Initiative
-Proactive
-Problem Solver
-Perseverance
-Persuasion
-Planner
-Risk-taker
*Environmental Factors

Question 11

doing things even before being told

Answer 11

Initiative

Question 12

which means he can classify opportunities and seize it.

Answer 12

Proactive

Question 13

which means he can retain good relations with other people.

Answer 13

Problem Solver -

Question 14

meaning he will pursue things to get done regardless of challenges.

Answer 14

Perseverance

Question 15

means that he can entice people to buy even if they don’t want to.

Answer 15

Persuasion -

Question 16

he makes plans before doing things and does not fail to monitor it.

Answer 16

Planner

Question 17

which means that he is willing to gamble but he will calculate it first.

Answer 17

Risk-taker -

Question 18

which include political, climate, legal system, economic and social conditions and market situations.

Answer 18

Environmental Factors

Question 19

Common Competencies in Entrepreneurship

Answer 19

Decisive
Communicator
Leader
Opportunity seeker
Proactive
Risk Taker
Innovative

Question 20

an entrepreneur must be firm in making decisions.

Answer 20

Decisive

Question 21

an entrepreneur must have a convincing power.

Answer 21

Communicator -

Question 22

an entrepreneur must have the charisma to be obeyed by his employees.

Answer 22

Leader -

Question 23

an entrepreneur must have the ability to be the first to see business chances.

Answer 23

Opportunity seeker -

Question 24

an entrepreneur can control a situation by making things happen or by preparing for possible future problems.

Answer 24

Proactive –

Question 25

an entrepreneur has the courage to pursue business ideas.

Answer 25

Risk Taker –

Question 26

the entrepreneur has big business ideas and he does not stop improving and thinking of new worthwhile ideas for his business.

Answer 26

Innovative

Question 27

Core Competencies in Entrepreneurship

Answer 27

Economic and Dynamic Activity Innovative Profit Potential Risk bearing

Question 28

Entrepreneurship is an economic activity because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources.

Answer 28

Economic and Dynamic Activity -

Question 29

The entrepreneur constantly looks for new ideas, thus he needs to be creative.

Answer 29

Innovative

Question 30

The entrepreneur can be compensated by his profit coming from the operation.

Answer 30

Profit Potential -

Question 31

The entrepreneur needs to gamble but wise enough to offset the risk.

Answer 31

Risk bearing –

Question 32

Types of Entrepreneurs

Answer 32

Innovative Entrepreneurs Imitating Entrepreneurs Fabian Entrepreneurs Drone Entrepreneurs Social Entrepreneurs

Question 33

They are those who always make new things by thinking of new ideas. They have the ability to think newer, better and more economical ideas.

Answer 33

Innovative Entrepreneurs -

Question 34

They are those who don’t create new things but only follow the ideas of other entrepreneurs.

Answer 34

Imitating Entrepreneurs -

Question 35

They are skeptical about changes to be made in the organization. They don’t initiate but follow only after they are satisfied.

Answer 35

Fabian Entrepreneurs -

Question 36

They are those who live on the labor of others. They are die-hard conservatives even ready to suffer the loss of business.

Answer 36

Drone Entrepreneurs -

Question 37

They are those who initiate changes and drive social innovation and transformation in the various fields such as education, health, human rights, environment and enterprise development.

Answer 37

Social Entrepreneurs -

Question 38

Career Opportunities of Entrepreneurship

Answer 38

Business Consultant Teacher Researcher Sales Business Reporter

Question 39

with the expertise of in the field of entrepreneurship, he can be a very good source of advices to other entrepreneurs and would be business men.

Answer 39

Business Consultant -

Question 40

a graduate of an entrepreneurship can use his knowledge in teaching.

Answer 40

Teacher -

Question 41

the entrepreneur can be employed as a __ by an enterprise.

Answer 41

Researcher -

Question 42

the entrepreneurship graduate can apply as a salesman.

Answer 42

Sales -

Question 43

the entrepreneur being expert in the field, can be employed as a __.

Answer 43

Business Reporter -