Year 11 Business Pre-Test

What is an Entrepreneur?

• A person who sets up a business or businesses, taking on financial risks in the hope of profit.

• A person who introduces new methods, ideas, or products.

• A person who manages or owns a business or group of business.

Who is an example of an entrepreneur?

What are common characteristics of entrepreneurs?

• Creative

• Scared of Risks

• Closed Minded

• Risk Taking

What is Maslow's Hierarchy of Needs

• Is a motivational theory that argues that job satisfaction and dissatisfaction exist on two different continua, each with its own set of factors.

• Is a motivational theory that suggests individuals are motivated to perform if they know that their extra performance is recognized and rewarded

• Is a motivational theory in psychology comprising a five-tier model of human needs, often depicted as hierarchical levels within a pyramid.

What is the second level called on Maslow's hierarchy of needs?

What is an example of a safety and security need?

• a home

• family

• food

• sleep

How is Hertzberg two-factor theory and the Expectancy theory similar?

What are the four types of innovation?

• Disruptive, New, Need and Incremental

• Sustaining, Incremental, Disruptive and Radical

• Radical, Disruptive, Need and Sustaining

Is this an example of a successful innovation? Why/Why not

What type of innovation is occurring here?

• Sustaining

• Disruptive

• Incremental

• Radical