Entrepreneurial Traits and Contributions

What is the core process of entrepreneurship?

• Managing an existing large corporation.

• Identifying a business opportunity, gathering resources, and taking risks to create a new business.

• Investing in established companies for quick returns.

• Working for a company to develop new products.

Which characteristic of entrepreneurs involves introducing new ideas, products, or services that address unmet needs or solve existing problems in unique ways?

• Resilience

• Risk-Taking

• Innovation

• Adaptability

Elon Musk's ventures like Tesla and SpaceX are cited as examples of which key characteristic of entrepreneurs?

• Resilience

• Risk-Taking

• Vision

• Innovation

Jeff Bezos's decision to leave a secure job to start Amazon, an online bookstore, at a time when e-commerce was largely untested, best illustrates which entrepreneurial trait?

• Adaptability

• Resilience

• Risk-Taking

• Passion

Jack Ma, the founder of Alibaba, faced numerous rejections for jobs and university admissions before succeeding. This demonstrates his strong ability in which area?

• Innovation

• Adaptability

• Resilience

• Vision

Steve Jobs's approach to business, focusing on building products that would revolutionize how people interact with technology, exemplifies which essential entrepreneurial characteristic?

• Adaptability

• Passion

• Risk-Taking

• Vision

Reed Hastings's decision to transition Netflix from a DVD rental service to a streaming platform, recognizing a shift in consumer behavior, is a prime example of which entrepreneurial trait?

• Innovation

• Adaptability

• Resilience

• Passion

Howard Schultz transformed Starbucks into a global brand by prioritizing what aspect of his business?

• Aggressive marketing campaigns

• Cost-cutting measures

• The customer experience

• Rapid expansion into new markets

Despite facing multiple business failures and even bankruptcy, Walt Disney continued to pursue his dream of creating an entertainment company. This illustrates which entrepreneurial characteristic?

• Networking

• Leadership

• Persistence

• Vision

How do entrepreneurs primarily contribute to job creation?

• By reducing existing workforce sizes.

• By starting new businesses and generating employment opportunities.

• By automating all manual labor.

• By outsourcing all production overseas.