Entrepreneurship Quiz Review of Powerpoint

What does an entrepreneur do?

• Works as an employee in a large corporation

• Assumes no risk and only provides ideas

• Starts, organizes, and manages any enterprise, especially a business, with considerable initiative and risk

• Only invests money in existing businesses

Which of the following is NOT listed as a common trait of an entrepreneur?

• Empathy

• Laziness

• Creativity

• Determination

What is the primary difference between an entrepreneur and an employee?

• An entrepreneur has less responsibility than an employee

• An entrepreneur assumes all the risk and reward of a business venture, idea, or good or service offered for sale

• An entrepreneur never manages a business

• An employee typically starts and organizes businesses

What is one of the "Pros" of starting your own business?

• Increased workload

• More responsibility

• Freedom from reporting to bosses

• Risking savings

Which of the following is considered a "Con" of starting your own business?

• Flexibility in work

• Control over the company's direction

• Potential increase in profits

• Risking your savings, time, and effort

What can be a drawback in terms of workload when starting your own business?

• It is always manageable

• It can be exhausting

• It decreases over time

• It is less than in traditional employment

What is a benefit in terms of control when starting your own business?

• There is no need to make decisions

• You have limited influence over the business direction

• You have influence over the direction of the company

• You can avoid taking responsibility

What limitation is a "Cons" regarding the early stages of starting a business?

• Unlimited resources

• Having a big name or well-established business behind you

• Being limited without the funding of a big name or well-established business behind you

• Having too much freedom

What does the 'S' in SWOT stand for?

• Systems

• Suppliers

• Strengths

• Services

Which of the following is considered an internal factor in SWOT analysis?

• Economic trends

• Human resources

• Political regulations

• Market trends