Entrepreneurship 2ND SEM (Part I)

Question 1

plays an important role in developing
the economy.

Answer 1

Entrepreneurs

Question 2

are encouraged by the economy because they can provide a lot of opportunities for the unemployed young people.

Answer 2

Entrepreneurs

Question 3

4 Relevance of Entrepreneurship to an Organization

Answer 3

1. Development of Managerial Capabilities
2. Creation of Organizations
3. Improving standard of living
4. Means of economic development

Question 4

which means that because of entrepreneurships many organizations will exist.

Answer 4

Creation of Organizations

Question 5

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

Answer 5

Improving standard of living

Question 6

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

Answer 6

Means of economic development

Question 7

Concept of Entrepreneurship The word “entrepreneur” was derived from the French verb ______________, which means ____________

Answer 7

enterprendre
“ to undertake”

Question 8

commit oneself to and begin (an enterprise or responsibility)

Answer 8

Undertake

Question 9

are innovators, willing to take risks and generate new ideas to make it unique and profitable solutions to the present-day problems.

Answer 9

Entrepreneurs

Question 10

2 Factors affecting entrepreneurship

Answer 10

Personality Factors
Environmental Factors

Question 11

7 Personality Factors

Answer 11

Initiative
Proactive
Problem Solver
Perseverance
Persuasion
A Planner
Risk - Taker

Question 12

5 Environmental Factors :

Answer 12

Politics
Climate
Legal System
Economic and Social Conditions
Market Situations

Question 13

which means doing things even before being told

Answer 13

Initiative

Question 14

which means he can classify opportunities and seize it.

Answer 14

Proactive

Question 15

which means he can retain good relations with other people.

Answer 15

Problem Solver

Question 16

meaning he will pursue things to get done regardless of challenges

Answer 16

Perseverance

Question 17

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

Answer 17

Persuasion

Question 18

meaning he makes plan before doing things and do not fail to monitor it.

Answer 18

A Planner

Question 19

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

Answer 19

Risk - Taker

Question 20

7 Common Competencies in Entrepreneurship

Answer 20

Decisive
Communicator
Leader
Opportunity Seeker
Proactive
Risk Taker
Innovative

Question 21

an entrepreneur must be firm in making decisions.

Answer 21

Decisive

Question 22

an entrepreneur must have a convincing power.

Answer 22

Communicator

Question 23

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

Answer 23

Leader

Question 24

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

Answer 24

Opportunity Seeker

Question 25

controlling a situation by making things to happen or by preparing for possible future problems.

Answer 25

Proactive

Question 26

they have the courage to pursue what is their business ideas.

Answer 26

Risk Taker

Question 27

the entrepreneurs have big business ideas and they do not stop improving and thinking of new worthwhile ideas for their business.

Answer 27

Innovative

Question 28

4 Core Competencies in Entrepreneurship

Answer 28

Economic and Dynamic Activity Innovative Profit Potential Risk Bearing

Question 29

Core Competencies in Entrepreneurship 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 29

Economic And Dynamic Activity

Question 30

Core Competencies in Entrepreneurship Entrepreneurs constantly look for new ideas, thus he needs to be creative.

Answer 30

Innovative

Question 31

Core Competencies in Entrepreneurship meaning the entrepreneur can be compensated by his profit coming from the operation.

Answer 31

Profit Potential

Question 32

Core Competencies in Entrepreneurship meaning the entrepreneur needs to gamble but wise enough to offset the risk.

Answer 32

Risk Bearing

Question 33

5 Types of Entrepreneurs

Answer 33

Innovative Entrepreneur Imitating Entrepreneur Fabian Entrepreneurs Drone Entrepreneur Social Entrepreneurs

Question 34

Types of Entrepreneurs they are those who always make new things by thinking of new ideas.

Answer 34

Innovative Entrepreneurs

Question 35

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

Answer 35

Imitating Entrepreneurs

Question 36

Types of Entrepreneurs they are those skeptical. They don’t initiate but follow only after they are satisfied.

Answer 36

Fabian Entrepreneurs

Question 37

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

Answer 37

Drone Entrepreneurs

Question 38

Types of Entrepreneurs they are those who initiate changes in the various fields such as education, health, human rights, environment and enterprise development.

Answer 38

Social Entrepreneurs

Question 39

5 Career Opportunities of Entrepreneurship

Answer 39

Business Consultant Teacher Researcher Sales Business Reporter

Question 40

Career Opportunities of Entrepreneurship with the expertise of the entrepreneur he can be a very good source of advices to other entrepreneurs and would be business man.

Answer 40

Business Consultant

Question 41

Career Opportunities of Entrepreneurship a graduate of an entrepreneurship can be use his knowledge in teaching

Answer 41

Teacher

Question 42

Career Opportunities of Entrepreneurship the entrepreneur can be employed as researcher by an enterprise.

Answer 42

Researcher

Question 43

Career Opportunities of Entrepreneurship the entrepreneurship graduate can apply as salesman

Answer 43

Sales

Question 44

Career Opportunities of Entrepreneurship the entrepreneur being expert in the field, he can be employed as business __________

Answer 44

Business Reporter