Introuduction To Ethics

Question 1

Who are entrepreneurs

Answer 1

These are individuals who organize, operate and assume the risks associated with a business venture they establish in pursuit of an opportunity they have identified.

Question 2

What is the entreprenurial process directed at

Answer 2

Directed at capturing value associated with business opportunities

Question 3

What are the common traits of entrepreneurs

Answer 3

Good observers
Passionate
Positive thinkers
Restless
Dissatisfied
Can do people

Question 4

Mention the types of entreprenuers

Answer 4

Necessity Entrepreneur
Opportunity Drive Entrepreneur
Social Entrepreneur

Question 5

Describe the people under the Necessity Entrepreneur class

Answer 5

People who have resources and are looking for what to do with those resources

Question 6

Describe the people under the Opportunity Driven Entrepreneur class

Answer 6

These are people who spot and take advantage of opportunities

These are people that see opportunities and are prepared to exploit them irrespective of the resources at hand.

Question 7

Describe the people under the Social Entrepreneur class

Answer 7

These are people who wants to leave the world a better place than they met it!

Question 8

Describe the person and vision centric

Answer 8

Person-Centric:
I have all the ideas, I keep the secret formulation… and i die with everything

Vision Centric:
I have all the vision, I share and entrench it in those with similar mindset, prepared to share risk and rewards, everyone wins!!

Question 9

What are the 6 steps of the entrepreneurial process

Answer 9

Spot the GAP.
* Generate Ideas (Business Concept) to meet GAP
* Evaluate Venture Opportunity in Biz Concept
* Develop a plan (Biz Plan).
* Implement Plan but be flexible
* Appraise and modify where necessary