Fundamentals of Entrepreneurship

What is an entrepreneur?

• A person who is in charge of a specific location.
• A person who works for someone else in order to learn skills.
• A person who organizes and operates a business or businesses.
• None of these

Which is NOT a common characteristic of an entrepreneur?

• risk-taker
• creative
• organized
• irresponsible

Which is a characteristic of a successful entrepreneur?

• Motivated

• Takes very little risk

• Passionate

• Hard-working

The process of starting and running a business.

• Entrepreneurship
• Technical Skills
• Independent Skills

What is the challenge of creativity and innovation?

• They refer to the same thing

• Too often there is an assumption that creativity automatically leads to actual innovation

• They are two different concepts that are hard to be put together

What is Innovation?

• Short term goals in the business

• How many times a business has changed their product.

• A "new idea, creative thoughts, new imaginations in form of device or method".

• the exclusive and assignable legal right, given to the originator for a fixed number of years, to print, publish, perform, film, or record literary, artistic, or musical material.

What is the importance of Innovation?

• Management research confirms that organisations that

  meet the innovation challenge out perform their

  competitors in terms of market share, profitability, growth

  and market capitalisation (Tidd, Bessant, & Pavitt, 2005).

• innovative organisations are better able to mobilize the knowledge, skills and experiences of people and successfully create new products, services and ways of getting things done faster, better and cheaper.

• Although creativity is innovations's precursor, both are key issues for organisational survival growth.

• All of the Above

Creative Is . . .  

• a.  The act of turning new and imaginative ideas into reality 
• b.  The process of bringing something new into being
• c.  Requires passion and commitment.
• d. All of the above

To develop your creativity, you should…  

• a.  Commit Yourself to Developing Your Creativity
• b.  Reward Your Curiosity
• c.  Be Willing to Take Risks
• d. All of these will develop creativity.

To enhance your creativity, you should…  

• a.  Not be willing to take risks
• b.  Be insecure in your abilities
• c. None of these
• d.  All of these