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WorksheetsFundamentals of Entrepreneurship
Total questions: 50
Worksheet time: 50mins
A target market is
a group of investors willing to put capital into a business
a generational group of individuals
a group of consumers at which a product/service is aimed
an industry willing to sell and market your product
Entrepreneurs create ____________________ for themselves and others.
wealth
risk
plans
none of these
What is the purpose of a business plan? (hint: choose 2 correct answers)
To document your financial activity during one year
Legal document to be filed with the SEC
States the purpose and vision of your company
States the amount of capital you need to run the company
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
How do MANY people become millionaires?
They save aggressively, avoid debt, and invest their money.
They win the lottery.
The inherit it from family.
They avoid the stock market.
Entrepreneurs have to find their own health insurance and plan for retirement.
True
False
Which is a common characteristic of an entrepreneur?
organized
vindictive
impressionable
irresponsible
An organization or enterprising entity engaged in commercial, industrial, or professional activities.
Business
Businessman
Entrepreneur
Entrepreneurship
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
A true entrepreneur doesn’t ask questions about whether or not they’ll succeed—they truly believe they will.
Creative
Hardworking
Perseverance
RiskTAker
They genuinely love their work.
COMMITTED
DEDICATION
PASSION
STRONG PEOPLE SKILL
YOU MAY OBTAIN FINANCIAL RESOURCES FROM
(a)
TWO OF THE POSSIBLE PROBLEMS FOR START UPS MAY BE
LACK OF WATER AND ELECTRICITY
LOCATION AND POOR INFORMATION FROM CUSTOMERS
TOO MUCH SUCCESS AT THE BEGINNING
EXCESSIVE FINANCIAL RESOURCES TO MANAGE
The process of starting and managing your own business.
Entrepreneur
Entrepreneurship
Franchising
This is an advantage of Entreprenurship
Flexible work hours
You are your own boss
Recognition
Do something that you always wanted to d
all of the above
The following are all disadvantage of entrepreneurship, EXCEPT?
High risk of business failure.
Possibility of low/no income
Potential for high income
Stress
Long work hours
Select all of the ways to enter a business
Open a new business
Buy an existing business
Buy a franchise
Join the family business
All of the above
What challenges does an entrepreneur have?
all of the above
drive
responsibility
money
True or False. Only adults can be entrepreneurs. Kids are too young.
True
False
What is ONE quality of an entrepreneur?
flexibility
honesty
money
attitude
What entrepreneur qualities do YOU need ?
Determination
Self-discipline
Team-working skills
All of the above
Most of the people who does business have this with them. What is it called?
Candy Store Board
Party Invitation
Business Card
Business License
Advertisements can be done through
videos, radios and posters
internet only
shouting out loud to passerby
store boards only
Which of these is NOT a skill of an entrepreneur?
Creativity
Sleeping
Interpersonal Skills
Organization
Confidence is:
believing in your own skills and that your product will be a success.
thinking of new ideas or new ways of doing things.
not being afraid of things going wrong.
Independence is:
not being afraid of things going wrong.
liking to be in charge and not liking being told what to do.
believing in your own skills and that your product will be a success
Being held accountable is what characteristic?
Independent
Self-Confident
Responsible
None of the answers
Looking at new ways of doing things, developing solutions to problems is what characteristic?
Goal-Oriented
Creative
Responsible
Independent
Not afraid to do new things is what characteristic?
Problem-solving & Decision-making Skills
Independent
Human Relations Skills
Risk Taker
Not giving up and keep trying is what characteristic?
Persistent
Creative
Self-Confident
Responsible
Resourcing is when the entrepreneur finds resources like capital, people, and equipment to start the business.
True
Fasle
