Introduction

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 entrepreneurships
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

which means “ to undertake” This is pinpointing to those who ”undertake” the risk of
enterprise.

Answer 5

Entrepreneur

Question 6

are innovators, willing to take risks and generate new ideas to
make it unique and profitable solutions to the present-day problems.

Answer 6

Entrepreneurship

Question 7

Factors Affecting Entrepreneurship

Answer 7

1. Personality Factors which includes:

Question 8

which means doing things even before being told

Answer 8

Initiative

Question 9

which means he can classify opportunities and seize it.

Answer 9

Proactive

Question 10

which means he can retain good relations with other
people

Answer 10

Problem solver

Question 11

• meaning he will pursue things to get done regardless of
  challenges

Answer 11

Perseverance

Question 12

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

Answer 12

Persuasion

Question 13

meaning he makes plan before doing things and do not fail to
monitor it.

Answer 13

meaning he makes plan before doing things and do not fail to
monitor it.a plan

Question 14

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

Answer 14

Risk taker

Question 15

• meaning he will pursue things to get done regardless of
  challenges

Answer 15

Perseverance

Question 16

which include political, climate, legal system,
economic and social conditions and market situations.

Answer 16

Environmental factors

Question 17

Common Competencies in Entrepreneurship

Answer 17

1. Decisive- an entrepreneur must be firm in making decisions.
2. Communicator- an entrepreneur must have a convincing power.
3. Leader-an entrepreneur an entrepreneur must have the charisma to be
   obeyed by his employees
4. Opportunity seeker- an entrepreneur must have the ability to be the first to
   see business chances.
5. Proactive- controlling a situation by making things to happen or by preparing
   for possible future problems.
6. Risk Taker- they have the courage to pursue what is their business ideas.
7. Innovative- the entrepreneurs have big business ideas and they do not stop
   improving and thinking of new worthwhile ideas for their business.

Question 18

an entrepreneur must be firm in making decisions.

Answer 18

Decisive

Question 19

an entrepreneur must have a convincing power.

Answer 19

Communication

Question 20

-an entrepreneur an entrepreneur must have the charisma to be
obeyed by his employees

Answer 20

Leader

Question 21

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

Answer 21

Opportunity seeker

Question 22

controlling a situation by making things to happen or by preparing
for possible future problems.

Answer 22

Proactive

Question 23

they have the courage to pursue what is their business ideas.

Answer 23

Risk taker

Question 24

the entrepreneurs have big business ideas and they do not stop
improving and thinking of new worthwhile ideas for their business.

Answer 24

Innovative

Question 25

Core Competencies in Entrepreneurship.

Answer 25

1. Economic and dynamic activity- Entrepreneurship is an economic activity because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources. 2. Innovative- Entrepreneurs constantly look for new ideas, thus he needs to be creative. 3. Profit Potential- meaning the entrepreneur can be compensated by his profit coming from the operation. 4. Risk bearing –meaning the entrepreneur needs to gamble but wise enough to offset the risk.

Question 26

Entrepreneurship is an economic activity because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources.

Answer 26

Economic and dynamic activity-

Question 27

Entrepreneurs constantly look for new ideas, thus he needs to be creative.

Answer 27

Innovative

Question 28

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

Answer 28

Profit potential

Question 29

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

Answer 29

Risk bearing

Question 30

Types of entrepreneurs

Answer 30

1. Innovative entrepreneur- they are those who always make new things by thinking of new ideas. 2. Imitating entrepreneurs- they are those who don’t create new things but only follow the ideas of other entrepreneurs. 3. Fabian entrepreneurs- they are those skeptical. They don’t initiate but follow only after they are satisfied. 4. Drone entrepreneur- they are those who lives on the labor of others. They are die-hard conservatives even ready to suffer the loss of business. 5. Social entrepreneurs-they are those who initiate changes in the various fields such as education, health, human rights, environment and enterprise development.

Question 31

they are those who always make new things by thinking of new ideas.

Answer 31

Innovative entrepreneur

Question 32

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

Answer 32

Imitating entrepreneur

Question 33

they are those skeptical. They don’t initiate but follow only after they are satisfied.

Answer 33

Fabian entrepreneur

Question 34

they are those who lives on the labor of others. They are die-hard conservatives even ready to suffer the loss of business.

Answer 34

Drone entrepreneur

Question 35

they are those who initiate changes in the various fields such as education, health, human rights, environment and enterprise development.

Answer 35

Social entrepreneurs

Question 36

Career Opportunities of Entrepreneurship

Answer 36

1. Business Consultant- with the expertise of the entrepreneur he can be a very good source of advices to other entrepreneurs and would be business man. 2. Teacher- a graduate of an entrepreneurship can be use his knowledge in teaching 3. Researcher- the entrepreneur can be employed as researcher by an enterprise. 4. Sales- the entrepreneurship graduate can apply as salesman 5. Business Reporter- the entrepreneur being expert in the field, he can be employed as business reporter.

Question 37

with the expertise of the entrepreneur he can be a very good source of advices to other entrepreneurs and would be business man.

Answer 37

Business consultant

Question 38

a graduate of an entrepreneurship can be use his knowledge in teaching

Answer 38

Teacher

Question 39

the entrepreneur can be employed as researcher by an enterprise.

Answer 39

Researcher

Question 40

the entrepreneurship graduate can apply as salesman

Answer 40

Sales

Question 41

- the entrepreneur being expert in the field, he can be employed as business reporter.

Answer 41

5. Business Reporter