IETECH Mod-1

What is the definition of entrepreneurship?

• The ability to manage a company without risks

• The capacity and willingness to start and manage a business venture for profit

• Working for an established company with innovative ideas

• Selling products online without investment

Which of the following is NOT a success factor in startups?

• Business Model

• Timing

• Disruptive Idea

• Avoiding competition

What is the most common reason for startup failure?

• High operational costs

• Lack of skilled employees

• No market need

• Poor branding

What type of entrepreneur is known for working hard and starting small with the goal of growing big?

• Innovative Entrepreneur

• Hustler Entrepreneur

• Researcher Entrepreneur

• Buyer Entrepreneur

Which entrepreneur type believes in starting a business only after thorough research and analysis?

• Innovative Entrepreneur

• Hustler Entrepreneur

• Researcher Entrepreneur

• Buyer Entrepreneur

What is an example of opportunity recognition?

• A worker finding a better-paying job

• A person identifying a gap in the market and developing a business to fill it

• A company following the trends without innovating

• An entrepreneur copying a competitor’s idea

What type of thinking is associated with structured, logical, step-by-step processes?

• Linear Thinking

• Lateral Thinking

• Critical Thinking

• Critical Thinking

What is the key difference between innovation and invention?

• Innovation is the application of creativity, while invention is a leap in capability

• Invention is easier than innovation

• Innovation happens by accident, while inventions are planned

• Inventions don’t involve creativity

Which of the following is NOT a benefit of technopreneurship?

• Market Expansion

• Reduced Costs

• Increased barriers to entry

• Access to Information

What teamwork factor determines how well individuals work together despite differences?

• Vision

• Role Acceptance

• Chemistry

• Diversity