Entrepreneurship Revision (ETR2583)

Meet Nora, a passionate dreamer who has always envisioned her very own bakery. After years of saving up her pennies and whipping up delicious recipes in her kitchen, she finally takes the plunge and opens 'Nora's Sweet Treats'. But wait! What exactly is an entrepreneur?

• A person who manages a business

• A person who creates a new business

• A person who invests in stocks

• A person who works for a corporation

Abigail, a passionate dreamer with a sprinkle of flour on her nose, has always envisioned herself as the queen of cupcakes and the sultan of scones. After months of mixing ideas and kneading plans, she finally decides to take the leap and open her very own bakery. Now, let’s put on our thinking caps! Which of the following best describes the exciting world of entrepreneurship?

• The ability to manage a business

• The process of setting up a business

• The act of selling products

• The study of business theories

Meet Aria, a passionate dreamer and aspiring entrepreneur, who envisions launching her very own business empire! She understands that to turn her dreams into reality, she must pour her heart and soul into her venture. But wait, what is one of the four essential ingredients that every successful entrepreneur needs?

• Devotion of time and effort

• Ability to work in teams

• Knowledge of financial markets

• Experience in corporate management

Hey there, aspiring business moguls! 🌟 How does our friend Luna, the entrepreneur, differ from Abigail, the businessman?

• Luna takes risks, while Abigail plays it safe!

• Luna is all about innovation and profit, whereas Abigail focuses on ethics and stability.

• Luna creates exciting new ventures, while Abigail manages the tried-and-true businesses.

• Luna often works solo on her groundbreaking ideas, while Abigail thrives in team settings.

In the charming little town of Sweetville, our friend Scarlett decided to sprinkle some magic by opening her very own bakery, satisfying the community's sweet tooth! As her delightful pastries flew off the shelves, she noticed something wonderful happening: not only were the townsfolk savoring her treats, but the entire vibe of Sweetville was buzzing with energy as more local businesses began to bloom. So, what’s the real impact of entrepreneurship on our society?

• It reduces competition

• It improves lifestyle and fulfills community needs

• It creates monopolies

• It increases government control

Meet Michael, a passionate dreamer with visions of launching his very own tech company! But there's a little hiccup in his journey: the fear of failure keeps creeping in and holding him back. Now, let's put on our thinking caps! Which of the following traits is he missing that is NOT typical of a successful entrepreneur?

• Fear of failure

• Creativity and flexibility

• Desire for responsibility

• Commitment and determination

After years of dreaming and working for others, Aiden finally takes the plunge and launches his very own tech startup! As he embarks on this exciting journey, what do you think is the biggest reward he’s looking forward to as an entrepreneur?

• Job security

• Independence

• Fixed salary

• Health benefits

In the vibrant town of Harmonyville, a lively group of entrepreneurs, including the spirited Hannah and the innovative Samuel, gathered at their favorite café to chat about their roles in the community. Over steaming cups of coffee, they passionately debated the intriguing concept of 'fardhu Kifayah' and its significance in their entrepreneurial journeys. So, what exactly does the term 'fardhu Kifayah' mean in the realm of Islamic entrepreneurship?

• A form of investment

• A type of business model

• An obligation to provide goods and services

• A method of profit calculation

In a vibrant little town, our friend Arjun is embarking on an exciting adventure to launch a new business that champions ethical products while staying true to Islamic principles. As he navigates this entrepreneurial journey, he often ponders how his faith shapes his decisions and the vital role of weaving his religious values into the fabric of his business. Can you guess which principle highlights the beautiful connection between business and religion in the realm of Islamic entrepreneurship?

• Motivation

• Human Nature

• System

• Integration

Meet Rohan, a spirited entrepreneur diving into the exciting world of online business! As he navigates through the digital landscape, he's on a quest to discover the best strategies to elevate his venture. Can you guess what the main focus of digital entrepreneurship is?

• Traditional business practices

• Changes brought by digital technology

• Physical storefronts

• Local market strategies