Mr. Wooling Midterm review 25

Why would a person want to be an Entrepreneur?

• To make new friends

• To take care of a pet

• To build and create things

• To watch TV all day

What personality traits benefit an entrepreneur?

• Being rude to others

  
  

• Being outgoing and friendly

  
  

• Being lazy

  
  

• Being scared of trying new things

  
  

What type of work ethic is needed to be a successful entrepreneur?

• Never finishing tasks

  
  

• Taking naps all day

  
  

• Working hard and not giving up

  
  

• Playing video games instead of working

  
  

Why are entrepreneurs often referred to as risk-takers? 

• Because they never leave their house

  
  

• Because they always play it safe

  
  

• Because they try new ideas even if they might not work

  
  

• Because they never try anything new

  
  

Why is innovation critical in entrepreneurship?

• To keep trying new ideas and making things better

  
  

• To only follow what others do

  
  

• To always do things the same way

  
  

• To never share ideas with others

  
  

What is a key difference between an intrapreneur and an entrepreneur?

• Intrapreneurs work within an existing organization, while entrepreneurs start their own businesses.

  
  

• Intrapreneurs work independently, while entrepreneurs work in teams.

  
  

• Intrapreneurs have no risks, while entrepreneurs face substantial risks.

  
  

• Intrapreneurs focus on profit, while entrepreneurs focus on innovation.

  
  

Why are intrapreneurs critical to industry?

• They provide stability and consistency in the industry.

  
  

• They avoid taking any risks, ensuring the company's safety.

  
  

• They introduce new ideas and drive innovation within organizations.

  
  

• They limit growth opportunities due to conservative decision-making.

  
  

Which of the following is an example of intrapreneurship?

• Investing in multiple companies simultaneously.

  
  

• Acquiring a competitor in the industry.

  
  

• Starting a small business in a garage.

  
  

• Launching a new product within an existing company.

  
  

What are some characteristics of an intrapreneur?

• Creative thinkers who challenge the norm.

  
  

• Followers who avoid taking ownership of projects.

  
  

• Status quo maintainers with no interest in innovation

  
  

• Risk-averse and resistant to change

  
  

Intrapreneurs are important because they:

• Limit growth opportunities within organizations.

  
  

• Encourage creativity and innovation.

  
  

• Drive organizational change and competitiveness

  
  

• Avoid taking any initiatives in the workplace.