Introduction to Entrepreneurship

Question 1

the word ______________ originates from 13th century

Answer 1

“entrepreneur”

Question 2

entrepreneur was derived from the French verb ____________, which means “to do something” or “________________”

Answer 2

enterprendre, to undertake

Question 2

the enterprise is created by an entrepreneur and the process is called “__________________”

Answer 2

Entrepreneurship

Question 3

it is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties to make a profit

Answer 3

Entrepreneurship

Question 4

is the art of turning an idea into a business

Answer 4

Entrepreneurship

Question 5

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 5

Economic and Dynamic Activity

Question 5

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

Answer 5

Entrepreneur

Question 5

anyone who has the will and determination to start a new company and deals with all the risks that go with it

Answer 5

Entrepreneur

Question 6

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

Answer 6

Profit Potential

Question 7

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

Answer 7

Innovative

Question 8

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

Answer 8

Risk Bearing

Question 9

does things before being asked

Answer 9

Initiative

Question 10

Identifies and utilizes opportunities

Answer 10

Proactive

Question 11

works against all odds to overcome obstacles and is never complacent with success

Answer 11

Perseverance

Question 12

develops and maintain relationship with customers and finances

Answer 12

Problem-solver

Question 13

convinces costumers and sticks to his decisions

Answer 13

Persuasion

Question 14

makes decisions and sticks to his decisions

Answer 14

Self-confidence

Question 15

learns from his mistakes and from experiences of others

Answer 15

Self-critical

Question 16

collects information, prepares a plan and monitors

Answer 16

A Planner

Question 17

is willing to take calculated risks

Answer 17

Risk-taker

Question 18

development of entrepreneurship in each geographical area. Politicians decide the type of market that is in place

Answer 18

Political

Question 19

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

Answer 19

Fabian Entrepreneur

Question 20

• they are those who do not like change
• they are considered “old school” because they want to do business in their own traditional

Answer 20

Drone Entrepreneur

Question 21

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

Answer 21

Innovative Entrepreneur

Question 22

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

Answer 22

Imitating Entrepreneur

Question 23

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

Answer 23

Social Entrepreneur