Introduction to Entrepreneurs

What is the meaning of the term 'entrepreneur'?

• One who invests money in a venture

• One who manages an existing organization

• One who works for someone else

• One who takes the risk of a new venture

Which of the following is not a trait of a successful entrepreneur?

• Risk Avoider

• Inquisitive

• Committed

• Assertive

What is the function of a trading entrepreneur?

• To fill the gap in the supply-demand chain

• To identify new technology-based products

• To establish and manage a new enterprise

• To act as a middleman between manufacturers and customers

What is the primary motivation for becoming an entrepreneur?

• To work for flexible hours

• To pursue their own ideas

• To reap financial rewards

• To become their own boss

Which of the following is a managerial function of an entrepreneur?

• Planning

• Risk Taking

• Identifying Opportunities

• Innovation and Adaptation

What is the main difference between First Gen and Next Gen entrepreneurs?

• First Gen entrepreneurs are initiators of enterprise in the family, while Next Gen entrepreneurs continue or carry forward existing enterprises

• First Gen entrepreneurs are not interested in establishing an enterprise, while Next Gen entrepreneurs are

• First Gen entrepreneurs continue or carry forward existing enterprises, while Next Gen entrepreneurs are initiators of enterprise in the family

• First Gen entrepreneurs are not classified as entrepreneurs, while Next Gen entrepreneurs are

What is the core reason that inspires people to choose to become an entrepreneur?

• To work for flexible hours

• To reap financial rewards

• To pursue their own ideas

• To become their own boss

What is the primary function of an entrepreneur?

• To fill the gap in the supply-demand chain

• To take the risk of a new venture

• To act as a middleman between manufacturers and customers

• To establish and manage a new enterprise

What is the role of an entrepreneur in innovation and adaptation?

• To resist any possible change and operate in a traditional way

• To follow the lead of innovating entrepreneurs

• To imitate existing technology and offer their own version of goods and services

• To develop new products, services, markets, processes, strategies and techniques

What is the social function of entrepreneurship?

• To encourage others to take up entrepreneurship or entrepreneurial ventures

• To introduce new technologies and innovate

• To resist any possible change and operate in a traditional way

• To imitate existing technology and offer their own version of goods and services