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WorksheetsEntrepreneurial development unit 1
Total questions: 41
Worksheet time: 41mins
1. An individual who initiates, creates and manages a new business can be called _____________.
A. A leader
B. A manager
C. An entrepreneur
D. A professional
3. Which could provide an individual with the motivation to start a new business venture?
A. The financial rewards.
B. A desire to be independent.
C. Risk-taking
D. All the above.
Q3. A corporate manager who starts a new initiative for their company which entails setting up a new distinct business unit and board of directors can be regarded as:
a) Ecopreneur
b) Technopreneur
c) Intrapreneur
d) Social Entrepreneur
Why should an entrepreneur do a feasibility study for starting a new venture:
a) To identify possible sources of funds
b) To see if there are possible barriers to success
c) To estimate the expected sales
d) To explore potential customers
Which one of the following is the next stage to the Concept Stage of Product Planning and Development Process:
a) Idea Stage
b) Product Planning Stage
c) Product Development Stage
d) Test Marketing Stage
Which of these is not a unique quality of an entrepreneur?
Self Confidence
Resilience
Risk Taker
Negative Outlook
The entrepreneurial process is...?
How an entrepreneur turns their idea into a business
The process of applying for a loan
The formal name of closing a business
Teaching a younger person a trade
What characteristics must an entrepreneur possess. (There may be more than one correct answer.)
Persistent
Inquisitive
Goal-oriented
Powerful
What are the five steps (in proper order) of the entrepreneurial process
Discover, concept development, resourcing, actualization, harvesting
Discover, resourcing, actualization, harvesting, concept development
Resourcing, actualization, harvesting, concept development, discovery
Resourcing, actualization, concept development, discovery, harvesting
In which stage of the entrepreneurial process would the entrepreneur conducts research to determine if their idea could be a successful business
Concept Development
Discovery
Resourcing
Actualization
In which stage of the entrepreneurial process would the entrepreneur begin applying for loans, buying capital goods, and seeking investors?
Concept Development
Discovery
Resourcing
Actualization
Which of the following is the reason for business failure __________.
Lack of market research.
Poor financial control.
Poor management.
All the above.
Cooking in a restaurant is a _______________ business idea but owning a clothing business is a _____________ business idea.
Wage employment, Industrial employment
Self employment, Industrial employment
Wage employment, Self employment
None of these
State the following facts are true or false:
1. Entrepreneurs can create jobs in the market.
2. When many entrepreneurs sell mobile phones in a market, the prices of phones increase.
1. True
2. False
1. False
2. True
1. False
2. False
1. True
2. True
Which one of the entrepreneurial skills would fall under marketing and sales?
Creating events
Opening the doors early
Paying bills on time
Ordering the right inventory
The term entrepreneur has been divided from the word entrepreneur which mean
To give
To undertake
To choose
To decide
Which of these is not type of entrepreneurship
Small business entrepreneurship
Scalable entrepreneurship
Large scale entrepreneurship
Intrapreneurship
What is the difference between an intrapreneur and an entrepreneur?
An intrapreneur works within an existing company, while an entrepreneur starts their own company
An intrapreneur has more resources and support, while an entrepreneur has more freedom and flexibility
An intrapreneur has less risk, while an entrepreneur has more potential for profit
An intrapreneur is more focused on innovation, while an entrepreneur is more focused on market demand
Self Help Groups have _________
mainly encouraged rural women to obtain credit
helped women to become self reliant
helped women to discuss on relevant issuess like health
all of these
Who was provides refinance and promotional support to Bank for credit disbursement under the Self Help Group?
NABARD
NGO
State Bank of India
Central Bank
Which of the following is the reason for business failure?
Poor Management
Training
Innovation
Technology
Which industrial sector promotes small-scale businesses and Entrepreneurship, and has lower barriers to make entry?
service
Manufacuring
Distribution
Agriculture
Expand SEWA
Self-Employed Women’s Association
State Empowerment Women’s Association
Self-Employed World Association
Self-Educated Women’s Association
What is the first step in starting a new venture?
Securing funding
Writing a business plan
Conducting market research
Hiring employees
The entrepreneurial process is...?
How an entrepreneur turns their idea into a business
The process of applying for a loan
The formal name of closing a business
Teaching a younger person a trade
What skills must an entrepreneur possess. (There may be more than one correct answer.)
Problem solver
Communicator
Possesses basic business skills
Juggler
Who conceive an idea for a new product or service and then create a business to materialize their idea into reality are:
A. Induced Entrepreneurs
B. Business Entrepreneur
C. Immigrant Entrepreneur
D. Bureaucratic Entrepreneur
One who undertakes trading activities and is not concerned with the manufacturing work is called
A. Industrial Entrepreneur
B. Trading Entrepreneur
C. Technical Entrepreneur
D. Industrial Entrepreneur
A person who demonstrates his innovative skill in organizing and managing a corporate undertaking is called
A. Technologist Entrepreneurs
B. Corporate Entrepreneurs
C. Trading Entrepreneurs
D. Technical Entrepreneurs
A drone entrepreneur is one who
a) always thinks of innovation
b) enterprising and challenging
c) refuse to adopt new technical opportunities
d) adaptive to situations
The word “entrepreneur” has been taken from___________ language
a) Latin
(b) English
(c) Spanish
(d) French
Which of these is also known as corporate venturing?
Intrapreneurship
Mergers
Entrepreneurship
Acquisition
The most important function of an entrepreneur is:
A. Managerial function
B. Decision making function
C. Function of Innovation
D. Risk assumption function
These type of entrepreneurs just keep the unit running
Supervisor
Foreman
Manager
Accountant
Fabian entrepreneurs are also called as lazy
True
False
This is an association of small group of self-employed rural or urban women entrepreneurs who join together to take care of group welfare
Women’s India Trust
Self-Help Groups
Central and State Government Schemes
Federation of Indian Women Entrepreneurs
" Suffian want to open a retail business but the venture of the business is located near other retail business that have more demand from customer. So, he afraid to start the business ".
Based on situation, What type of barrier ?
Lack of Opportunity
Personal Inadequacy
Fear of Competition
Lack of Capital
Social entrepreneur is a person motivated by ___________________
Higher levels of self interest
Financial gains
Shareholder gains
Social gains
Which one of the following statements is not true of social entrepreneurs?
They take calculated risks for self-profits
They apply innovative ideas for social benefits
They are agents of social change
They encourage collaborative decision making
