Tag: opportunities for an entrepreneur

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Questions Related to opportunities for an entrepreneur

Multiple choice organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

Entrepreneurship is the incubator of the innovation.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Entrepreneurship is the process of bringing something new in to existence whether its a business, idea,process or product. Bringing something new means innovation.Entrepreneurship is the incubator of the innovation.Innovation means bringing in to existence something new may be a product, service,idea or solution. Innovation is the process of bringing the best ideas in to reality, which triggers a creative idea, which generates a series of innovative events.

Multiple choice organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

To _______, an entrepreneur is one who brings resources, labour, materials, and other assets together to make value greater than before.

  1. a psychologist

  2. an economist

  3. a businessman

  4. a customer
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

An economist Alferd Marshall was the one who brought in the concept of entrepreneurship for the first time in 1890s. To An economist, an entrepreneur is one who brings resources,labour,materials and other assets together to make value greater than before.

Multiple choice organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

Identify the personality factor(s) that affect entrepreneurship.

  1. Irrational monetary and fiscal policies

  2. Lack of Persuasion

  3. Unfair trade practices

  4. Sophisticated technology
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Lack of persuasion is the personality factor that affects entrepreneurship. Lack of persuasion leads to lack of communication and creates hindrance in influencing others.

Multiple choice organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

______ is the pioneering zeal that provides prosperity in every arena of human life- economic, technological and cultural.

  1. Industrial development

  2. Entrepreneurship

  3. Government

  4. Customers
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Entrepreneurship means setting up a business with some innovative ideas and creative thinking by assuming financial and other risks. The process by which individuals pursue opportunities without regard to resources they currently control. It is the pioneering zeal that provides prosperity in every arena of human life be it economic, technological and cultural.

Multiple choice organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

Which of the following factors acts as fuel to feed the nations entrepreneurial fire?

  1. Greater opportunities for Entrepreneurial education

  2. The shift from an industrial economy to a service economy

  3. Increasingly powerful technological advancements that is available at affordable prices.

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The increasing advancement in technology at affordable prices have made working of various businesses available to entrepreneurs. This is a shift from industrial economy to a service economy of entrepreneurs providing numerous services, leading to a greater knowledge and education for developing entrepreneurial skills.

Multiple choice organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

Individuals who help the entrepreneur in business activities are  _________.

  1. role modes

  2. professional-support network

  3. employees

  4. all of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Professional support network is the team of professionals who work under the guidance of an entrepreneur to work and carry out business activities for smooth fuctioning of the business.

Multiple choice organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

Why it is said that there are better odds of winning if you be an Entrepreneur because _________.

  1. you start a new business

  2. you do what you love to do

  3. passion is the fuel for success

  4. both b and c
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The question asks about why entrepreneurs have better odds of winning. The reasoning combines two key aspects: (B) entrepreneurs do what they love, and (C) passion fuels success. Both factors contribute to entrepreneurial success, making D the correct answer.

Multiple choice organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

Which of the following is not true about an entrepreneur?

  1. An entrepreneur is creative, innovative and risk taker

  2. An entrepreneur is independent

  3. An entrepreneur is not future oriented

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Characterstics of entrepreneurs:
1) Entrepreneur are Person who owns and develops his business
2) Entrepreneurs have Talent
3) Entrepreneurs have a way of thinking in innovative ways about ordinary things that leads to their ability to create new value
4) Entrepreneurs have an ability to acquire the necessary skills and expertise to push their new ventures forward
5) Entrepreneurs have strong urge to be independent
6) Entrepreneur is commonly seen as a business leader
7) Entrepreneurs have a ability to fight competitiveness

Multiple choice organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

Which type of entrepreneur is lead by charisma, charm and high energy?

  1. Superstar

  2. Fireball

  3. Juggler

  4. Hero
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Superstar- Here the business is centred around the charisma and high energy of the Superstar CEO. This personality often will cause you to build your business around your own personal brand.

Multiple choice organization of commerce and management entrepreneurship opportunities for an entrepreneur small business and enterprises entrepreneurship development

Which type of entrepreneur is full of life, energy and optimism?

  1. Fireball

  2. Healer

  3. Juggler

  4. Optimiser
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Fireball- A business owned and operated by a Fireball is full of life, energy and optimism. Your company is life-energizing and makes customers feel the company has a get it done attitude in a fun playful manner.