1-1 Entre Glossary Practice

What is Disruptive Innovation?

• A minor change in a business process

• An innovation that dramatically changes the normal order of things

• A slight improvement to an existing product

• A routine business strategy

Which of the following best describes Disruptive Innovation?

• Incremental improvements in technology

• Innovations that completely alter industries or markets

• Maintaining the status quo in business practices

• Improving customer service

An entrepreneur is someone who:

• Works for a large corporation

• Identifies opportunities, starts a business, and assumes risks to solve problems

• Prefers to avoid risk and maintain stability

• Focuses solely on improving existing businesses

Which of the following characteristics is typical of an entrepreneur?

• Risk-averse

• Identifies and capitalizes on opportunities

• Prefers working within established systems

• Avoids change and innovation

Entrepreneurship is best defined as:

• The process of maintaining a business

• The process of identifying opportunities and creating a business to solve problems

• The avoidance of risk and uncertainty in business

• The expansion of existing businesses

Which of the following activities is part of entrepreneurship?

• Ignoring new opportunities

• Cultivating resources and creating a business to solve problems

• Maintaining the status quo in the market

• Avoiding change and sticking to traditional methods

An opportunity in business refers to:

• A circumstance that presents itself as favorable to capitalize on or benefit from

• A routine task in the business process

Which of the following is an example of an opportunity?

• A sudden change in market demand that a business can capitalize on

• A routine process within a company

• Ignoring a new market trend

• Sticking to old methods and practices

A Business Plan is:

• A random collection of ideas

• A roadmap of the business’s goals, objectives, and the strategy to achieve them

• An informal conversation about business goals

• A one-time document with no long-term use

What is the purpose of a Business Plan?

• To outline the business's goals and how they will be achieved

• To discuss personal hobbies and interests

• To avoid making any formal plans for the business

• To list daily tasks without any strategic focus