Relevance of an entrepreneur to an organization

Question 1

this means that one of the benefits an entrepreneur gets is to develop his managerial skills.

Answer 1

Development of Managerial Capabilities

Question 2

which means that because of entrepreneurship many organizations will exist.

Answer 2

Creation of Organizations

Question 3

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

Answer 3

improving standard of living

Question 4

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

Answer 4

Means of Economic Development

Question 5

The word “entrepreneur” was derived from the French verb ____ , which means “to undertake.”

Answer 5

enterprendre

Question 6

Personality factors of an entrepreneur are:

Answer 6

1. initiative
2. proactive
3. problem solver
4. perserverance
5. persuasion
6. a planner
7. risk taker

Question 7

doing things even before they are told

Answer 7

initiative

Question 8

which means he can classify opportunities and seize it.

Answer 8

proactive

Question 9

which means he can retain good relationships with other people

Answer 9

problem solver

Question 10

meaning he will pursue things to get done regardless of challenges

Answer 10

perseverance

Question 11

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

Answer 11

persuasion

Question 12

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

Answer 12

persuasion

Question 13

he makes plans before doing things and does not fail to monitor it.

Answer 13

a planner

Question 14

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

Answer 14

risk taker

Question 15

common competencies in entrepreneurship

Answer 15

1. decisive
2. communicator
3. opportunity seeker
4. proactive
5. risktaker
6. risk taker
7. innovative

Question 16

what are the core competencies in entrepreneurship

Answer 16

1. economic and dynamic activity
2. innovative
3. profit potential
4. risk bearing

Question 17

an entrepreneur must be firm in making decisions

Answer 17

decisive

Question 18

an entrepreneur must have convincing power

Answer 18

communicator

Question 19

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

Answer 19

leader

Question 20

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

Answer 20

opportunity seeker

Question 21

an entrepreneur can control a situation by making things happen or by preparing for possible future problems

Answer 21

proactive

Question 22

an entrepreneur has the courage to pursue business ideas

Answer 22

risk taker

Question 23

the entrepreneur has big business ideas and he does not stop improving and thinking of new worthwhile ideas for his busiess

Answer 23

innovative

Question 24

the entrepreneur can be compensated by his profit coming from the operation

Answer 24

profit potential

Question 25

the entrepreneur needs to gamble but wise enough to offset the risk.

Answer 25

risk bearing

Question 26

5 types of entrepreneurs

Answer 26

1. innovative entrepreneurs
2. imitating entrepreneurs
3. fabian entrepreneurs
4. drone entrepreneurs
5. social entrepreneurs

Question 27

they are the those who always makes new things by thinking of new ideas

Answer 27

innovative entrepreneurs

Question 28

they are those who don’t create new things but only follow the ideas of others

Answer 28

imitating entrepreneurs

Question 29

they are skeptical about the changes to be made in the organization.

Answer 29

fabian entrepreneurs

Question 30

they are those who live on the labors of others.

Answer 30

drone entrepreneurs

Question 31

they are those who initiate changes and drive social innovation and transformation in the various fields such as education, health, etc

Answer 31

social entrepreneurs