ENTREP MIND

It is the activity of setting up a business or businesses taking on financial risks in hope of a profit.

Give at least 2 types of Innovations according to Joseph Schumpeter.

Enumerate the 3 clusters of Personal Entrepreneurial Competencies.

The planning cluster of the personal entrepreneurial competencies covers three characteristics and they are: goal setting, information seeking and systematic planning and monitoring.

• True

• False

The achievement cluster of the Personal Entrepreneurial Competencies is composed of persuasion and negotiation and self-confidence.

• True

• False

There is only one type of risk according to Frank Knight which is the measurable risk or risk which is one capable of being measured.

• True

• False

This type of opportunity can be well-documented, articulated or communicated, in which a person can create a new means-ends framework for recombining resources.

This type of opportunity is a situation that is difficult to codify, articulate or communicate, in which a person can create a new means-ends framework for recombining resources.

These are imagined future outsets.

• A. Opportunities

• B. Wishes

• C. Goals

These are objects or aim of actions.  

• A. Opportunities

• B. Wishes

• C. Goals