Enterpreneurship

What is entrepreneurship?

• A career in managing large companies

• The process of designing, launching, and running a new business

• A government initiative to support small businesses

• A college degree in business management

Which of the following is a key characteristic of an entrepreneurial mindset?

• Strict adherence to established procedures

• Avoiding challenges and difficulties

• Maintaining stability at all costs

• Risk-taking and decision-making

How do entrepreneurs contribute to economic growth?

• By creating new businesses, jobs, and wealth

• By ensuring existing businesses remain profitable

• By regulating industries and markets

• By providing financial support to struggling companies

What is a significant reason why many entrepreneurs fail?

• Excessive market demand

• An oversupply of financial resources

• Inability to outcompete other businesses

• Insufficient risk-taking

Which of the following best describes the decision-making approach of entrepreneurs compared to managers?

• Entrepreneurs rely more on data and analysis, while managers rely on instincts and intuition.

• Entrepreneurs and managers both primarily use established policies and procedures.

• Entrepreneurs often make decisions based on instincts and intuition, while managers rely on data and analysis.

• There are no significant differences between entrepreneurs and managers in decision-making.

How can entrepreneurs drive innovation?

• By avoiding competition

• By maintaining the status quo

• By focusing solely on profitability

• By developing new products, services, and technologies

Which factor contributes to entrepreneurs running out of cash?

• Excessive market research

• Insufficient funding

• A well-balanced and experienced team

• Accurate pricing and cost estimation

What is a primary difference in the mindset between entrepreneurs and managers?

• Entrepreneurs prioritize stability, while managers prioritize innovation.

• Both entrepreneurs and managers prioritize risk-taking and adaptability.

• Entrepreneurs are more innovative and visionary, while managers focus on stability and efficiency.

• There are no significant differences in mindset between entrepreneurs and managers.

Why is fostering an entrepreneurial culture important?

• It discourages innovation and risk-taking.

• It encourages more individuals to pursue entrepreneurship, creating a cycle of innovation and economic growth.

• It guarantees the success of every new venture.

• It helps maintain the status quo and avoid disruption.

Which of the following is a common reason for startup failure related to team composition?

• The team is too large and diverse.

• The team has complementary skills and a shared vision.

• The team consists of ineffective or inexperienced members.

• The team prioritizes collaboration and communication.