MODULE 1

Question 1

this means that one of the
benefits an entrepreneur gets is to develop his managerial skills.

Answer 1

Development of Managerial capabilities

Question 2

which means that because of entrepreneurships
many organizations will exist.

Answer 2

Creation of Organizations

Question 3

this means that entrepreneurship can lift up
the economic status of an individual.

Answer 3

Improving standard of living

Question 4

this means that not only the life of the
entrepreneur is improved but also the society where the business is located.

Answer 4

Means of economic development

Question 5

“entrepreneur” was derived from the French verb ________,
which means “ __________”

Answer 5

enterprendre, to undertake

Question 6

The enterprise is created by an entrepreneur and the process is called
“__________”

Answer 6

Entrepreneurship

Question 7

Factors Affecting Entrepreneurship

Answer 7

1. Personality Factors
2. Environmental Factors

Question 8

Personality Factors includes

Answer 8

Problem Solver, Perseverance,
Persuasion, A Planner, Risk-taker, Proactive, Initiative

Question 9

which means doing things even before being told

Answer 9

Initiative

Question 10

which means he can classify opportunities and seize it.

Answer 10

Proactive

Question 11

which means he can retain good relations with other
people

Answer 11

Problem Solver

Question 12

meaning he will pursue things to get done regardless of
challenges

Answer 12

Perseverance

Question 13

means that he can entice people to buy even if they don’t.

Answer 13

Persuasion

Question 14

meaning he makes plan before doing things and does not fail to
monitor it.

Answer 14

A Planner

Question 15

which means that he is willing to gamble but he will calculate it
first.

Answer 15

Risk-taker

Question 16

which include political, climate, legal system, economic and social conditions and market situations.

Answer 16

Environmental Factors

Question 17

Common Competencies in Entrepreneurship

Answer 17

Decisive, communicator, leader, opportunity seeker, proactive, risk taker, innovative

Question 18

an entrepreneur must be firm in making decision

Answer 18

decisive

Question 19

an entrepreneur must have a convincing power

Answer 19

communicator

Question 20

an entrepreneur must have the charisma to be obeyed by his employees

Answer 20

leader

Question 21

an entrepreneur must have the ability to be the first to see business chances

Answer 21

opportunity seeker

Question 22

controlling a situation by making things to happen or by preparing
for possible future problems.

Answer 22

proactive

Question 23

they have the courage to pursue what is their business ideas

Answer 23

risk taker

Question 24

the entrepreneurs have big business ideas and they do not stop
improving and thinking of new worthwhile ideas for their business.

Answer 24

innovative

Question 25

Core Competencies in Entrepreneurship

Answer 25

Economic and dynamic activity Innovative Profit Potential Risk bearing

Question 26

Entrepreneurship is an economic activity because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources.

Answer 26

Economic and dynamic activity

Question 27

Entrepreneurs constantly look for new ideas, thus he needs to be creative.

Answer 27

Innovative

Question 28

meaning the entrepreneur can be compensated by his profit coming from the operation.

Answer 28

Profit Potential

Question 29

Types of entrepreneurs

Answer 29

Innovative entrepreneurs Imitating entrepreneurs Fabian entrepreneurs Drone entrepreneur Social entrepreneurs-

Question 30

they are those who always make new things by thinking of new ideas.

Answer 30

innovative entrepreneurs

Question 31

they are those who don't create new things but only follow the ideas of other entrepreneurs

Answer 31

imitating entrepreneurs

Question 32

they are those skeptical. they don't initiate but follow only after they are satisfied

Answer 32

fabian entrepreneurs

Question 33

they are those who lives on the labor of others. they are die hard conservatives even ready to suffer the loss of business

Answer 33

drone entrepreneur

Question 34

they are those who initiate changes in the various fields such as education, health, human rights, environment and enterprise development.

Answer 34

social entrepreneurs

Question 35

Career Opportunities of Entrepreneurship

Answer 35

business consultant teacher researcher sales business reporter

Question 36

with the expertise of the entrepreneur he can be a very good source of advices to other entrepreneurs and would be business man.

Answer 36

business consultant

Question 37

- a graduate of an entrepreneurship can be use his knowledge in teaching

Answer 37

teacher

Question 38

the entrepreneur can be employed as researcher by an enterprise.

Answer 38

researcher

Question 39

the entrepreneurship graduate can apply as salesman

Answer 39

sales

Question 40

the entrepreneur being expert in the field, he can be employed as business reporter.

Answer 40

business reporter

Question 41

have the ability to think newer, better and more economical ideas.

Answer 41

innovative entrepreneurs.

Question 42

these are people who follow the path show by innovative entrepreneurs

Answer 42

imitating entrepreneurs

Question 43

are skeptical about changes to be made in the organization.

Answer 43

fabian entrepreneurs

Question 44

are persons who lives on the labor of other

Answer 44

drone entrepreneurs

Question 45

are people who drive social innovation and transformation in various fields including education, health, human rights and many others

Answer 45

social entrepreneur