Unit 1: Introduction to Entrepreneurship

What is a synonym for entrepreneur?

• Staff

• Owner

• Laborer

• Employee

What is true of entrepreneurial traits?

• Traits are specific to one industry

• Traits are bound by time and place

• Traits are personality characteristics

• Traits are associated with college degrees

Scenario: An entrepreneur was denied a loan that they were planning to use to increase manufacturing. Instead of applying for a new loan, they raised the money from stakeholders in their community.

Which trait did the entrepreneur MOST demonstrate?

• Humble

• Decisive

• Persistent

• Collaborative

Scenario: An entrepreneur was denied a loan that they were planning to use to increase manufacturing. Instead of applying for a new loan, they raised the money from stakeholders in their community.

Which behavior did the entrepreneur MOST demonstrate?

• Inquiring

• Setting Goals

• Seeking Knowledge

• Living Comforatably with failure

What is the relationship between successful entrepreneurs and risk?

• They avoid risk and hide from risky situations

• They accept that risk exists and take no action

• They share and transfer risk with/to someone else

• They assess risk and determine ways to reduce it

What are soft skills?

• Skills derived from a mentor

• Skills that support a workplace

• Skills taught at a college or university

• Skills exclusive to the entrepreneur industry

Which hard skill is helpful for entrepreneurs in a variety of industries?

• Economics

• Chemistry

• Engineering

• Computer Science

What makes a skill transferable?

• It is specific to a process or product

• It is shared through an industry mentor

• It is associated with a software program

• It can be beneficial from one job to the next

What hard skill most complements an entrepreneur in the field of accounting?

• Social Marketing

• Productivity

• Record Keeping

• Human Resources

Which term best describes ethics?

• Morals

• Reputation

• Profit-seeking

• Legal Compliance