Entrepreneurship Review Quiz

What is Disruptive Innovation?

• A minor change in business operations

• A business innovation that dramatically changes the normal order of things

• A routine update to a product line

• A slight improvement in customer service

Who is an Entrepreneur?

• Someone who works for a large corporation

• Someone who identifies an opportunity, starts a business, and assumes risks

• Someone who only invests in stocks

• Someone who manages a team in a company

What is Entrepreneurship?

• The process of closing a business

• The process of identifying opportunities and creating a business to solve problems

• The process of hiring employees

• The process of selling products

What is an Opportunity in business terms?

• A chance to relax

• A circumstance that presents itself as favorable to capitalize on

• A time to take a break

• A moment to reflect

What is a Business Plan?

• A list of employees

• A roadmap of the business’s goals and objectives

• A summary of past achievements

• A collection of customer feedback

What is Entrepreneurial Discovery?

• The process of finding new employees

• The process of systematically scanning for changes to discover opportunities

• The process of closing a business

• The process of selling products

What is Harvesting in the entrepreneurial process?

• The 1st stage of the entrepreneurial process

• The 5th stage where you evaluate the company's success or failure

• The stage where you hire employees

• The stage where you launch a product

What is Resourcing in the entrepreneurial process?

• The process of firing employees

• Gathering necessary elements to start a business

• The process of selling products

• The process of closing a business

What is Innovation?

• The introduction of something new

• The repetition of old methods

• The removal of outdated products

• The maintenance of current services

What is Financial Risk?

• The risk of gaining too much profit

• The risk that financial stakeholders will lose money

• The risk of hiring too many employees

• The risk of expanding too quickly