Entrepreneurship

Question 1

entrepreneurship

Answer 1

-process of creating and running a business or organization
-identifying a business opportunity, developing a business plan, and taking steps to launch and grow the business
-creativity, risk-taking, and problem-solving skills

Question 2

role requirements of entrepreneurs and owners

Answer 2

-have a clear vision of their business and be able to communicate it to others
-identify and capitalize on opportunities, develop strategies, and manage resources
-motivate, lead, build relationships, make decisions, adapt

Question 3

business ethics in entrepreneurship

Answer 3

-being honest and transparent in business dealings
-treating employees and customers with respect
-avoiding any activities that could be seen as unethical or illegal
-impact of decisions on the environment, society, and other stakeholders

Question 4

small-business opportunities in international trade

Answer 4

-allows them to access new markets, increase their customer base, and increase their profits
-lower labor costs, taxes, and transportation costs
-increased competition, lower prices, better quality