Entrepreneurship (Chapter 1 & 2)

Entrepreneurship is the art of turning an idea into _______________?

• Financial benefit

• Social welfare

• Innovation

• Business.

_____________ are proactive, innovative and risk taking

• Conservative Firms

• Entrepreneurial Firms

• Multinational Corporations

• IT Infrstructure Companies

Which of the following is NOT a characteristic of successfull entrepreneurs?

• Passion for the Business

• Prone to failure

• Execution Intelligence

• Product/Customer Focus

What does tenacity despite failure means?

• Not being a born entrepreneur

• Always crying over spilt milk

• Ability to persevere through failures

• Not having abundant resources

What causes an entrepreneur to be passionate about business?

• Too few competitors

• Abundance of wealth

• Social welfare

• Large market share

A successful entrepreneur keenly focuses on products and customers becase:

• They want to become rich

• They are craftspeople.

• They want to have major share in the market

• They have abundant resources at their disposal

_____________ are less innovative and risk averse.

• Entrepreneurial Firms

• Joint stock companies

• Conservative Firms

• Partnerships

What is execution intelligence?

• Ability to capture market share

• Ability to generate enormous profit

• The ability to transform an idea into a viable business

• Ability to take care of people

Which of the following is NOT correct?

• Jack Ma, Ali Baba

• Steve Jobs, Microsoft

• Larry Page and Sergey Brin, Google

• Elon Musk, Tesla and SpaceX

Which problems the millennials face while starting businesses?

• Lack of financing and desire

• Fear of failure

• Lack of business knowledge

• All of the above