CHAPTER 3: ENTREPRENEURIAL LIFE

An entrepreneur is a person who is ready to try or to undertake the risk of a new enterprise, and assemble all the resources to transform the invention into a viable business.

• true

• false

Entrepreneurship is the process of seeking business opportunities under condition of risk.

• true

• false

The time for an entrepreneur is limited.

• true

• false

Which of the following characteristics are synonym with an entrepreneur?

• unlimited time and flexible nature of job

• low effort and low risk taking

• rigid in adapting the changes

• follow the decisions made by others

An entrepreneur is more concerned with success and personal satisfaction rather than profit.

• true

• false

A small businessman normally makes his own decisions. He uses his creativity to produce and create innovative products and services that can penetrate a market that has not been tested before.

• true

• false

A/An ........ is an entrepreneur within a large organization with high entrepreneurial characteristics who strongly believes in his talent and ability and has a strong desire to create something using his own initiative and creativity

• intrapreneur

• Technopreneur

• Copreneurs

• Cyberpreneur

Someone who recognizes a social problem, and uses entrepreneurial principles to organize, create, and manage a venture to make social change. This statement is best for .....

• Cyberpreneur

• Technopreneur

• Copreneurs

• Social Entrepreneurs

"What can we do for our customers today?"

This phrase is suitable for the characteristics of a successful entrepreneur which is ......

• Able to Tolerate Tedium

• Able to Face Reality

• Always Seeking Improve

• Orient Themselves to Customer’s Needs

"If I fail, I will try again".

This statement is best to show that an entrepreneur .....

• Able to Identify Opportunity

• Value Their Employees

• Able to Tolerate Tedium

• Able to Rebound from Disappointment.