Prelim

Question 1

Is the practice of using entrepreneurial knowledge to increase effectiveness of startup business

Answer 1

Entrepreneurial Management, Robert Price

Question 2

Is a discipline that deals with ventures, innovation, strategies which will take idea into market, and to make venture a successful business.

Answer 2

Entrepreneurial Management

Question 3

One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying significant opportunities and assembling the necessary resources to capitalize on them 

Answer 3

Entrepreneur

Question 4

One who organizes, manages, and assumes the risks of the business or enterprise

Answer 4

Entrepreneur

Question 5

Is the capacity for innovation, investment and expansion in new markets, products and techniques

Answer 5

Professor Nathaniel Left

Question 6

Is more than a word, It is a mission. We must perceive opportunities inherent in change; we must create a desire for pursuing the opportunities that arise; and we must create an environment in which success is possible and the consequences of failure are tolerable

Answer 6

Professor Hirsh

Question 7

As a field of business that seeks to understand how opportunities to create something new arise and discovered or created by specific persons, who then use various means to exploit or develop them, thus producing a wide range of effect.

Answer 7

Entrepreneurship

Question 8

This refer to new or different ways of doing things, like technology, marketing, human relations management, and so forth. When individual creates product, it is innovation. When he sells product in a different approach, it is also innovation.

Answer 8

Innovation

Question 9

Viewed innovation as arising from new combinations of materials and forces. He provided the following five cases of new combinations.

Answer 9

Joseph Schumpeter

Question 10

Is the exchange of goods and services between two or more parties without the use of money

Answer 10

Bartering

Question 11

Is concerned about vital management issues for startup entrepreneurs

Answer 11

Entrepreneurial management

Question 12

They depart from routine, discover new markets, find new sources of supply, improve existing products and lower the costs of production

Answer 12

Jeremy Bentham considered entrepreneurs to be innovators

Question 13

Merchants who sailed out of Venice in the late 1200s to search for a trade route to the Orient

Answer 13

Marco Polo

Question 14

is restricted to the concepts, skills, and mindset that individual business owners must employ to start and grow their business.

Answer 14

entrepreneurial knowledge