Waste Wise Entrepreneurship Quiz Competition

What is the best definition of entrepreneurship?

• A process of running a business without taking risks

• The act of creating and managing a business for the purpose of solving a problem

• The management of a large corporation

• The scientific study of business practices

Which of the following is NOT typically associated with entrepreneurship?

• Innovation

• Risk-taking

• Profit-making

• Working within existing organizations

An entrepreneur is primarily someone who:

• Seeks job security

• Inherits a business

• Starts and manages a new venture

• Manages public relations in a company

According to John Kao, entrepreneurship is largely about:

• Financial investments in large corporations

• Managing creativity and innovation

• Marketing products effectively

• Handling company finances

In Kao's model, what is the relationship between entrepreneurship and creativity?

• Creativity is a byproduct of entrepreneurship

• Creativity is a tool used by entrepreneurs to innovate

• Entrepreneurs have little use for creativity

• Entrepreneurship stifles creativity

Schumpeter's view on entrepreneurship emphasizes:

• The ability to manage large corporations

• Innovation and the destruction of old industries through creative destruction

• Risk aversion and careful planning

• The importance of financial capital only

According to Schumpeter, what is the main role of an entrepreneur?

• Manage business resources

• Steer existing businesses toward profitability

• Introduce innovative products and services that disrupt the market

• Maintain a steady cash flow for the company

Walker's view of entrepreneurship focuses on:

• Long-term financial planning

• The entrepreneur as a mediator between technology and the market

• The pursuit of personal wealth only

• The creation of a non-profit organization

Peter Drucker views the entrepreneur primarily as:

• A financial investor

• A manager of risk

• An innovator focused on creating and managing new businesses

• A corporate administrator

Schumpeter referred to the entrepreneur's role in the economy as:

• A stabilizer of market conditions

• A creator of new economic value through innovation

• A person who ensures continuous job security

• A maintainer of traditional business models