Exercise ENT300

Entrepreneur is defined as…

• he who is willing to work in an organization

• he who punches his competitor face in order to win

• he who accepts risks and opportunities of creating, operating and growing a business

• he who is very good in drawing products

Which of the following is NOT considered a risk of being an entrepreneur?

• Long hours and hard work

• Potential Business Failure

• Providing value to others

• Financial Insecurity

What type of entrepreneurial business actually produce the products they sell?

• Supplier

• Distributor

• Manufacturing

• Service

Below are the competencies of successful entrepreneurs EXCEPT

• Information-seeker

• High work quality

• Systematic planning

• Introvert

Jean Babtiste Say proposed that an entrepreneur is a person who shifts resources from an area of high productivity to low productivity.

• TRUE

• FALSE

Richard Cantillon defines entrepreneurs as a person who undertakes risk in order to maximize profit.

• TRUE

• FALSE

The process of entrepreneurship or business development

is usually static.

• TRUE

• FALSE

Creativity arises through the confluence of the following three components:

• Creativity, innovation and entrepreneurship

• Societal, technology and economic trends

• Knowledge, creative thinking and motivation

• Problem solving, social networks and marketing

The iPhone is an example of:

• creativity

• invention

• innovation

• entreprneurship

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