TYPES AND FUNCTIONS OF ENTREPRENEURS

1.What is the main focus of an Innovative Entrepreneur?

• A) Replicating existing ideas

• B) Solving social issues

• C) Creating new products or services

• D) Running a franchise

2. Imitative Entrepreneurs primarily:

• replicate existing business models and ideas
• invest in existing successful companies
• focus on innovative technology development
• create entirely new business models

3.Which type of entrepreneur aims to solve social or environmental problems?

• Serial entrepreneur
• Social entrepreneur
• Lifestyle entrepreneur
• Corporate entrepreneur

4. 4. Technical Entrepreneurs are experts in:

• Human resources development
• Financial management
• Marketing strategies
• Technology and its application in business

5. 5. What is the primary goal of a Business Entrepreneur?

• To create and grow a profitable business.
• To minimize expenses and avoid risks.
• To focus solely on personal interests and hobbies.
• To maintain a stable job without taking any risks.

6.Lifestyle Entrepreneurs are focused on:

• lifestyle and personal fulfillment
• product innovation and technology advancement
• networking and social status
• financial gain and market dominance

7.What is one of the key functions of entrepreneurs?

• To create government policies.
• To conduct scientific research.
• To manage financial investments.
• To identify and exploit market opportunities.

8. 8. Entrepreneurs contribute to economic growth by:

• By creating jobs, fostering innovation, and increasing competition.
• Decreasing consumer spending
• Limiting access to technology
• Reducing taxes for large corporations

9.Which of the following is an example of Identifying Opportunities?

• Conducting a market analysis to assess overall industry trends.
• Implementing a new marketing strategy without customer input.
• Analyzing customer feedback to discover a demand for a new product feature.
• Focusing solely on improving existing product features.

10.What is a key trait of an Entrepreneur when it comes to decision-making?

• Ability to take calculated risks
• Avoidance of all risks
• Reluctance to change plans
• Focus on short-term gains