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What is the main difference between a business owner and an entrepreneur?

• Business owners take more risks than entrepreneurs

• Entrepreneurs focus more on day-to-day operations

• Business owners aim to change the world, while entrepreneurs focus on profit

• Entrepreneurs aim to make a big change or impact, while business owners focus on running a profitable business

Which of the following is NOT typically associated with a business owner?

• Focusing on day-to-day operations

• Making calculated decisions with clear outcomes

• Taking big risks

• Aiming to make a profit

What does the term "enterprise" mean if you were thinking of an entrepreneur?

• Starting a new business

• Boldly pursuing new ideas and taking risks

• Managing employees effectively

• Maximising profits in an existing business

How do entrepreneurs typically view risk compared to business owners?

• Entrepreneurs try to avoid risk at all costs

• Entrepreneurs and business owners view risk similarly

• Entrepreneurs embrace risk, while business owners try to minimise it

• Business owners take more risks than entrepreneurs

Which of the following is an example of "initiative" as an entrepreneurial behaviour?

• Waiting for instructions before starting a project

• Following established procedures exactly

• Taking the first step without being prompted

• Asking for permission before making any decisions

• Recognising a gap in the Australian beauty market, Jo Horgan introduced a selection of international brands, providing consumers with access to products previously unavailable in Australia.

• She transformed traditional beauty retail by emphasising 'edutainment,' blending education and entertainment to enhance customer engagement. This approach includes extensive staff training and in-store experiences like makeup applications, skincare consultations, and beauty workshops.

• Describe three of Jo Horgan's entrepreneurial achievements.

Which of the following best describes the entrepreneurial approach to growth?

• Slow and steady growth to minimise risk

• Maintaining the current size of the business

• Aiming for rapid growth and expansion

• Growing only when absolutely necessary

What is the primary focus of a business owner's vision?

• Changing the world

• Running a profitable business

• Taking big risks

• Expanding rapidly

Which of these is NOT an entrepreneurial behaviour ?

• Shared Vision

• Initiative

• Innovation

• Avoiding risk

How does an entrepreneur's approach to innovation differ from a business owner's?

• Entrepreneurs avoid innovation to minimize risk

• Business owners focus more on innovation than entrepreneurs

• Entrepreneurs constantly seek new ideas and ways to improve

• There is no difference in their approaches to innovation