Lesson 1.1

Question 1

Derived from the french word “entreprende” which simply means “to undertake”

Answer 1

Entrepreneurship

Question 2

Present a broad array of factors that relate to the success or failure in contemporary entrepreneurial ventures.

Answer 2

Macro view

Question 3

What are the Displacement School of thought?

Answer 3

1. Political Displacement
2. Cultural Displacement
3. Economic Displacement

Question 4

Is a dynamic process of vision, change, and creation that requires on application of energy and passion toward the creation and implementation of new ideas and creative solutions.

Answer 4

Entrepreneurship

Question 5

The complete focus of this school of thought is the search for startup and growth capital because securing venture capital is vital to an entrepreneur’s development.

Answer 5

Financial/Capital School of thought

Question 6

What are the macro views?

Answer 6

1. Environmental School of thought
2. Financial/ Capital School of thought
3. Displacement School of thought

Question 7

This thought process concentrates on the negative side of the existence of a group.

Answer 7

Displacement school of thought

Question 8

Examines factors specific towards entrepreneurship being part of internal locus of control.

Answer 8

Micro view

Question 9

Positive or negative external factors that affect the lifestyle of a potential entrepreneur.

Answer 9

Environmental School of thought

Question 10

What are the under of Entrepreneurial trait school of thought?

Answer 10

1. Achievement
2. Creativity
3. Determination
4. Technical knowledge

Question 11

An individual who creates a new business, bearing most of the risks and enjoying most of the rewards.

Answer 11

Entrepreneur

Question 12

What are the under of Strategic formulation Schools of thought?

Answer 12

1. Unique markets
2. Unique people
3. Unique products
4. Unique resources

Question 13

What are the micro views?

Answer 13

1. Entrepreneurial trait school of thought
2. Venture Opportunity school of thought
3. Strategic formulation school of thought

Question 15

What are the characters of an entrepreneur?

Answer 15

1. Risk taker
2. Patient
3. Responsible
4. Opportunity seeking
5. Innovative
6. Self confident
7. Human-Relation skills

Question 16

Entrepreneurs are willing to risk their time and money just to pursue ventures they are passionate with.

Answer 16

Risk-taker

Question 17

An innovator, a source of new ideas, goods, services, and business/ or producers.

Answer 17

Entrepreneur

Question 18

Entrepreneurs always find fruitful opportunities in business, in life.

Answer 18

Opportunity seeking

Question 19

Entrepreneurs are always confident with their skills and knowledge, to be used in engaged entrepreneurial ventures.

Answer 19

Self-confident

Question 20

Entrepreneurs always show accountability to the unfavorable actions committed by his/her employees.

Answer 20

Responsible

Question 21

Innovation is one of the key concepts of entrepreneurship.

Answer 21

Innovative

Question 22

Entrepreneur deal with people; moreover, entrepreneurs have the ability to establish human relations in order to widen entrepreneurial networks.

Answer 22

Human relation skills

Question 23

Entrepreneurs are poised to with stand unfavorable situations, continue to stride despite problems met along the way.

Answer 23

Patient