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Worksheetsentrepreneurship
Total questions: 51
Worksheet time: 25mins
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
A true entrepreneur doesn’t ask questions about whether or not they’ll succeed—they truly believe they will.
Creative
Hardworking
Perseverance
RiskTAker
Entrepreneurs are dreamers and believe their ideas are possible, even when they seem unattainable.
Hardworking
Opportunity Seeker
Optimistic
Self Confidence
A Spanish word which means self love; a sense of self-esteem or self-respect that prevents a person from swallowing his pride
Amor Propio
Bahala Na System
Balimbing
Ningas Kugon
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
Which of the following is NOT a trait of successful entrepreneurs?
Passion
Procrastination
Resilience
Strong sense of self
Leaders work in the system.
True
False
I don't know
Managers support problem solving and
Inspiring
Innovation
Showing other the way
Decision-making
Monitoring and controlling expenses/budgets are responsibilities of
Leaders
Managers
Co-workers
Employees
These people don't stop and watch unless they are learning and comparing
Leaders
Managers
Co-workers
Employees
A merchandise shipment of laptops were destroyed in transit. This is an example of a(n)
Market
Risk
Accident
Loss
Last night, you got a call that your warehouse had caught on fire. This is an example of
Risk
Loss
Speculative Risk
Pure Risk
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
How many steps are there in the entrepreneurial discovery process?
4
5
6
7
Which of the following is NOT a step in the entrepreneurial discovery process?
Investigate Trends
Look For Business Opportunities
Brainstorm Problems and Ideas
Profitability Analysis
Business opportunities could include
Franchises, family business & hobbies
Family business, interests, & trends
Hobbies, interests, & making money
Franchises, games, & solutions
When investigating trends, it is important to look at current and global trends.
True
False
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
Being an entrepreneur is the right choice for everyone
True
False
SBA helps entrepreneurs by providing resources regarding business plans, loans, etc. SBA stands for
Small Business Alliance
Smith Blackwell Association
Small Business Association
Small Brand Association
Opening a franchise is less risky than starting a business from scratch.
True
False
What is a business plan?
Written document that only outlines the business practices of the new business.
Written document that describes the financial aspects of the business.
Written document that only describes the ownership of the business.
Written document that describes all the steps necessary for opening and operating a successful business.
Why do you need a business plan?
To explain your idea
the ability to get financing.
it's a road map that sets objectives and goals for the business.
To help reduce the risk of business failure.
All of the above.
Complete the sentence: A business plan...
is useful once your business is operational but not much help during the startup phase
is not usually needed once the business is up and running
can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running.
Which of the following is NOT a heading on a business plan?
The staff
The idea
Market research
Advertising campaign examples
Competitors
Which of the following would be interested in seeing the business plan of a new company?
Customers
Potential investors
The owners of the company
Banks/ potential lenders
Local council
A business plan would normally be updated:
Every day
A month after the business starts
Once a business adjusts its aims/objectives
Every so often
Never - It stays the same in its original form
A business plan conveys the ___________________________ of your business, including titles of directors or officers and their individual duties.
Operational Milestones
Organizational Structure
Management Tool
Objectives and Goals
A ____________________________ describes the nature of your business and list the marketplace needs that you are trying to satisfy.
Market Analysis
Financial Reports
Appendix
Company Description
