Entrepreneurship Flashcard

Front

An elevator pitch is a way to convey information about your business. How long should it be?

Back

30 seconds

Front

The process of creating something new that makes life better is called…

Back

innovation

Front

A venture capitalist is…

Back

An investor in a business providing capital for startup

Front

Which of the following best defines entrepreneurship? Options: the process of starting a new business, the act of working for a large corporation, the ability to juggle multiple tasks efficiently, the practice of investing in the stock market

Back

the process of starting a new business

Front

What is the main purpose of market research in entrepreneurship?

Back

to identify potential customers and their needs

Front

What does the term ‘competitive advantage’ mean for an entrepreneur?

Back

offering unique products or services

Front

What does the term ‘break-even point’ mean for an entrepreneur?

Back

the point at which the business starts making a profit

Front

Which of the following is an example of a successful entrepreneur? someone who starts a business but fails within a year, someone who takes risks and learns from their mistakes, someone who follows the traditional career path, someone who prefers to work for a large corporation

Back

someone who takes risks and learns from their mistakes

Front

Which of the following is an example of an employability skill? playing a musical instrument, solving math problems, speaking and listening effectively, drawing pictures

Back

speaking and listening effectively

Front

Why is it important to have good communication skills in the workplace?

Back

to effectively convey information and ideas