Ptt 1

Question 1

An entrepreneur is an individual who
undertakes the risk associated with
creating, organizing, and owning a
business

Answer 1

Entrepreneur

Question 2

Steps in the Entrepreneurial
Proces

Answer 2

1. Discovery
2. Concept
   Development
3. Resourcing
4. Actualization
5. Harvesting

Question 3

The stage in which the
entrepreneur generates ideas,
recognizes opportunities, and studies
the market

Answer 3

Discovery

Question 4

Develop a business plan: a
detailed proposal describing
the business idea

Answer 4

Concept Development

Question 5

The stage in which the
entrepreneur identifies and acquires
the financial, human, and capital
resources needed for the venture
startup, etc

Answer 5

Resourcing

Question 6

The stage in which the
entrepreneur identifies and acquires
the financial, human, and capital
resources needed for the venture
startup, etc

Answer 6

Resourcing

Question 7

The stage in which
the entrepreneur operates the
business and utilizes resources to
achieve its goals/objectives.

Answer 7

Actualization

Question 8

The stage in which the
entrepreneur decides on venture’s
future growth, development, or
demise

Answer 8

Harvesting