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WorksheetsEntrepreneurship
Total questions: 61
Worksheet time: 20mins
The first time the term entrepreneur appeared in literature was around:
1700s
1900s
2021
2010
Who gave the term 'entrepreneur'?
Cantillon
Sergiu rusu
Drucker
Flamingo
The concept of entrepreneurship is ____________ over time.
fixed
evolving
rotating
conserved
Following is not a classical thought of entrepreneurship.
person able to raise capital
person able to raise capital person able to take risk
desire to start something by oneself
creation of values by various means
Following is a classical thought of entrepreneurship.
creation of values by various means
acting on opportunity irrespective of available resources
person with connection able to raise capital
acting on an opportunity with lack of balance
In 1968, Cole described entrepreneurhsip as:
visionary who is able to foresee the benefits of an invention
activity dedicated to initiation, maintenance and development of profit oriented enterprise
creator of new organisations with or without profit
an educated person with good qualifications and expertise
Following should not be an attribute of an entrepreneur.
risk taking
perseverance
limited knowledge of actual trade
mathematical skills
The famous definition that 'the entrepreneur identifies and speculates the moments of change, transforming them into business opportunities' was given by:
Sergiu rusu
Cole
Drucker
Gartner
Following is not necessarily important for a successful entrepreur.
Vision
Own capital
Risk taking propensity/ability
Hard work
Ability to hold capital can:
enhance the chance of sustaining business
enhance the chance of sustaining business reduce ability to make profits
increase chances of bankruptcy
disturb the production process in a manufacturing company
Following is generally ignored but is an important for being a credible entrepreneur.
compliance of laws and regulations of the land
human resource management
planning
customer relations
A successful entrepreneur can be judged with:
high salaries of employees
high salaries of employees highly priced products without value for money
enhancement of the size of organisation with a good growth trajectory amount profits made wihout looking at ethics and regulation
enhancement of the size of organisation with a good growth trajectory
All of the following are personal skills necessary for an entrepreneur except one:
analytical ability
computer programming
time management
discipline
Following is an important personal skill for a good entrepreneur.
computer programming
goal setting
planning
personal and social outreach
Following is necessary technical skill.
technical implementation
computer programming
personal and social outreach
planning
If an enterprise sells computers, who would be able to manage the human resource of the enterprise relatively batter than others?
biotechnologist
an MBA
a graphic designer
computer engineer
Which of the following is not entrepreneurial sector?
transport
public services
farming
any sector can be entrepreneurial since it depends on personal attributes of an individual
Environment monitoring is one of the key skills of entrepreneurship. Comment.
FALSE
TRUE
cannot be determined
completely vague
Entrepreneurship is a completely _______________ term.
defined
diverse
specific
role oriented
Entrepreneurship, in other words, can be called profiteering. Comment.
TRUE
need more specifics
FALSE
too diverse to fit in single term other than the term itself
Following are drivers for entrepreneurship except one:
availability of money
risk taking
strong self concept
FALSE
Intentions to be an entrepreneur can be studied with variables like:
risk taking
strong self concept
family environment and background
all the options mentioned
The tendency to calculate a risk and giving in to the risk indicators without contemplating on winning chances is called
risk intention
risk taking
risk aversion
strong self concept
Self concept deal with all of the following except:
Physical appearance
family background and support
strengths and weaknesses
capital infusion ability
A person investing significant amount of money in someone's business based on its merits for a limited duration is called:
trader
venture capitalist
market researcher
entrepreneur
________________________ can be illustrated as individual decision to choose to get $50 instead of getting $100 with probability 50%.
entrepreneur
courageous trader
smart venture capitalist
Loss aversion
If gains are high if a great deal of risk is taken, then which of the following do you think is appropriate?
manage the impact of risk with calculations to reduce it and maximise gains in all forms
gains are important but risks all always a signal towards losses
none of the statements are appropriate
gains are never so important than the organisation itself so wait for another low risk chance
A calculated and affirmative decision towards a risky proposal will make the entrepreneur:
loose focus to the task due to stress
loose her/his enterprise eventually
get demoralised due to the risk taken
work hard by all means and keeps her/him motivated
Following environments show higher levels of entrepreneurial activity except?
cohesion in the society amongst people of all caste class religion
training and education
rule of law and economic freedom
corruption
Entrepreneurial activity and economic performance have a ______________ correlation.
no net
zero
negative
positive
A high ___________________- level provides individuals with the knowledge and tools necessary to create a business, while helping budding entrepreneurs identify market opportunities
monetary
educational
entrepreneurial
corrupt
___________________________ is central for entrepreneurial activity and encourages many entrepreneurs to engage in entrepreneurial activity.
corruption
Innovation
Money
education
Export orientation of an entrepreneur is ______________ for the domestic market.
beneficial
extremely risky
imbalancing
stabilising
The indicators forming like _____________________, ____________________ and _____________________ result in positive effects on entrepreneurship.
economic policy measures, conservativeness, and innovation
economic policy measures, openness, and traditional
economic policy measures, openness, and innovation
economic policy restrictions, openness, and innovation
Which is a characteristic of a successful entrepreneur?
Motivated
Takes very little risk
Passionate
Hard-working
What is a disadvantage of being an entrepreneur?
You have more control over your work
You have a more flexible schedule
You do not always receive a regular paycheck
Your work schedule is always predictable
Elon Musk is one of the greatest innovators in the last 30 years. He... ((hint: choose 3 correct answers)
Co-founded Google
Co-founded Paypal
Founded the company SpaceX
Founded the company Tesla
Why do you need a business plan? (hint: choose 3 correct answers)
To raise capital
Gets everyone involved to focus on the same goals
Gives an objective look at what you are doing and why
It is required by law
Reid Hoffman is one of the greatest innovators in the last 30 years. He was the founder of
Snapchat
Groupon
What does the term "boot-strapping" refer to?
Strapped with maximum amount of debt to start a business
Tying yourself to a business partner to fund a venture
Self-funding a business or project
Starting a business with very few assets
This round of funding helps a company add a few employees & launch an early product.
Seed Funding
Series A Funding
Series B Funding
Series C Funding
Which is a way to advertise your business or product? ( hint: choose 2 correct answers :)
Support Media
Product Placement
Broadcast Media
The Internet
Which is NOT one of the reasons startups typically fail?
Run out of cash
No business model
Poor marketing
Market demand
An elevator pitch is a way to convey information about your business. How long should it be?
5 minutes
3 minutes
60 seconds
30 seconds
The process of creating something new that makes life better is called...
Technology
Innovation
Brand recognition
Opportunity cost
What is the difference between a startup and a small business?
Startups intend to grow larger compared to a small business
Startups have been in business longer
Small businesses have multiple locations, startups do not
A small business has more employees than a startup
A person involved in the business sector – in particular someone undertaking activities for the purpose of generating cash flow, sales, and revenue by utilizing a combination of human, financial, intellectual and physical capital with a view to fueling economic development and growth.
Business
Businessman
Entrepreneur
Entrepreneurship
Why are Entrepreneurs important?
An important money maker
An important engine of growth in the economy
An important business model
An important way to increase traffic
Why do we need Entrepreneurship?
Create new businesses and raise taxes
To make people happy
To take down big box stores
Create social change and community development
Entrepreneur is someone who
Organizes, leads, manages, and assumes the risks of a business
Makes mass amounts of money
Is very controlling and close-minded
You would not want to work for
Your company decided to produce and stock 100,000 of their newest product. Sales are not moving as quickly as you thought and the merchandise just taking up space in the warehouse. This is an example of
Risk
Loss
Speculative Risk
Pure Risk
Why do people want to become entrepreneurs?
Make a guaranteed amount of money
To be their own boss and make decsions
To work longer hours
To show off how talented they are
Which of the following is a disadvantage of a partnership?
Everyone is happy
Two sets of ideas and financial assets
Potential friction when making decisions
Can split duties and responsibilties
Identify a successful sole proprietor must exhibit all of the following except
Leadership skills
Be fully responsible for the firm’s performance
Be willing to work 40 hours per week
Organization skills
Identify secondary sources in entrepreneurial ideas and opportunities except
Reliable existing data
References
Mass media and electronic media
Internet
Which of the following is a disadvantage of setting up a business as a partnership
Shared losses
Shared workload
Shared profit
More ideas generated
Select the importance of goals for an organization are as follows:
i. It provides direction
ii. it focuses on effort
iii. It drives organizational planning and decision making
iv. It evaluates the organization’s achievement
i, iii and iv
ii, iii and iv
i, ii, iii and iv
i and ii only
Why is it important for an entrepreneur to have problem solving skills?
They can find solutions and turn such problems into opportunities. Problem solving relates to all aspects of business.
So they can identify problems quickly and make the necessary changes.
They are able to see where things go wrong.
They need to be able to find solutions quickly.
