CAD3113P/TOU3124N: ENTREPRENUERSHIP

Entrepreneur is defined as…

• he who is willing to work in an organization

• he who punches his competitor face in order to win

• he who accepts risks and opportunities of creating, operating and growing a business

• he who is very good in drawing products

An entrepreneur who is involved in technological changes in producing goods and services is called a

• Copreneur

• Intrapreneur

• Technopreneur

• Computerenuer

What is the difference between a startup and a small business?

• Startups intend to grow larger compared to a small business

• Startups is high quality business

• Small businesses have multiple locations, startups do not

• Small business fail after 5 years

What is a disadvantage of entrepreneurship?

• Personal satisfaction

• Lower taxes

• Uncertain income

• Flexible schedule

Successful entrepreneurs enjoy their work and often start their businesses so that they can share their interests and enthusiasm with others. In other words, successful entrepreneurs have _______________ what they do.

• concerns about

• ignore about

• relax for

• passion for

Which of the following is NOT considered a risk of being an entrepreneur?

• Long hours and hard work

• Potential Business Failure

• Providing value to others

• Financial Insecurity

Below are the competencies of successful entrepreneurs EXCEPT

• Information-seeker

• High work quality

• Systematic planning

• Introvert

1) Which of the following is an accurate characterization of interest in entrepreneurship?

• A) There is tremendous interest in entrepreneurship across the world.

• B) There is minimal interest in entrepreneurship across the world.

• C) There is minimal interest in entrepreneurship in North America and Europe, but significant interest in Asia and Australia.

• D) There is significant interest in entrepreneurship in North America and Europe, but minimal interest in Asia and Australia.

• E) While interest in entrepreneurship was once high, it is waning in popularity across the world.

What is the main difference between a businessman and an entrepreneur?

• A businessman is a market leader, while an entrepreneur is a market player

• A businessman is people focused, while an entrepreneur is profit oriented

• A businessman is a risk taker, while an entrepreneur is risk averse

• A businessman creates the market for his own business, while an entrepreneur starts a business on an old concept or idea

What are the three primary reasons that people become entrepreneurs?

• Desire to pursue own ideas, financial reward, desire to be a market leader

• Desire to be own boss, desire to work for a large corporation, financial reward

• Desire to be own boss, desire to pursue own ideas, financial reward

• Desire to work for a large corporation, desire to pursue own ideas, financial reward