Principles of Business

Principles of Business

Entrepreneurship

Open Ended

Who is an entrepreneur?

What is Entrepreneurship?

It is a process through which individuals identify opportunities, allocate resources and create value through business ownership.

Multiple Choice

Which is NOT a common characteristic of an entrepreneur?

• Risk-taker

• Organized

• Creative

• Irresponsible

Multiple Choice

They're able to not only come up with ingenious ideas, but also turn those ideas into profits.

• Creative

• Persistence

• Perseverance

• Self-confidence

Multiple Choice

A true entrepreneur doesn't ask questions about whether or not they'll succeed they truly believe they will.

• Creative

• Hardworking

• Risk-taker

• Perseverance

Multiple Choice

An entrepreneur creates new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying

• Threats

• Product

• People

• Opportunities

Multiple Choice

Planning for unexpected growth in an entrepreneurial venture involves

• determining future goals and objectives

• motivating persons towards achieving goals

• assigning tasks and allocating resources

• ensuring that performance is in accordance with goals