ATTENTION:
Kindly note that you will be presented with 50 questions randomized from the NOUN question bank. Make sure to take the quiz multiple times so you can get familiar with the questions and answers, as new questions are randomized in each attempt.
Good luck!
GST204
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1. The Distinctive design, graphics, logo, symbols, words, or any combination thereof that uniquely identifies a firm and/or its goods or services, guarantees the item's genuineness, and gives it owner the legal rights to prevent the unauthorized use referred to _________
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2. Passion and Motivation, Not Afraid to Take Risks, Self-belief, Hard Work and Disciplined Dedication, Adaptable and Flexible, Product and Market Knowledge, Strong Money Management, Effective Planning (Not Over-Planning) Skills, The Right Connections are the main characteristics of an ___________
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3. Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________
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4. The position that individualism is related directly to innovation and entrepreneurship is not __________________
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5. Entrepreneurship is an activity embarked upon for a specific _____
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6. The functionality of an entrepreneur is based on some established _______
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7. According to David Mc Clelland (1961), an entrepreneur is a dynamic person who takes calculated ___________________
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8. The establishment of any entrepreneurial Venture is risky and the entrepreneur has to assume ______
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9. _______ theory of entrepreneurship identifies traits, motives and personalities as the major factors that infuse the entrepreneurial spirit in an individual
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10. Entrepreneurial culture can be rooted in a society through 4 main avenues. According to ________
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11. The value created by taking a resource or set of inputs, providing additional inputs or processes that increase the value of those inputs, and thereby generate a product or service that has greater market value at the next level of the value chain is referred to as _________
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12. Business idea arises from an opportunity in the _________
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13. It is the responsibility of ________ to assess the external environment of the business by critically looking at the opportunities and threats emanating from changes in the major external environmental factors
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14. The entrepreneur needs to evaluate the strengths and weaknesses of the business __________
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15. Which kind of innovation changes the core design of one or more components but does not change the entire product architecture
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16. _________ activities are transactions with creditors or investors used to fund either company operations or expansions
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17. Individuals with an internal locus of control believe that they are able to life events
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18. There are given situations where an Entrepreneur is not able to establish his or her own business and as such has to work in an
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19. Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities
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20. The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process
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21. The __________ theory of entrepreneurship embraces social culture as a driving force of entrepreneurship
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22. A technological process is a means to make and improve products and ________
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23. Scanning the environment is better and safer method of assessing than jumping Into the_______
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24. Entrepreneurship is inhibited by the social system, which denies opportunities for creative facilities for __________
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25. Difficulties Faced in Establishing an Entrepreneurial Culture include the followings except _________
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26. Starting /creating a new business is a serious exercise that requires a lot of __________ and hard work
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27. _______is a great source of information, ideas and often opportunity.
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28. The term Entrepreneur seems to have been introduced into Economics by ______
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29. Span style approach will prevent you spreading your marketing budget and time too thinly is known as __________
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30. Which phase is the starting point for new ideas?
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31. ______ are individuals who identify public problems and apply business acumen to resolve them.
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32. Brainstorming. It helps in generating a large number of product _______
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33. An entrepreneur must have the competence and proficiency in the knowledge of the _________
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34. _________ is the process of having a good idea of the resources that will be required to turn your idea into an opportunity.
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35. Idea generation (ideation) is an emerging buzzword representing the creative process of generating, developing, and communicating new _________
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36. __________ defined the entrepreneur as someone who imagines, develops and realizes a vision
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37. The conceptual cornerstone in the theory of entrepreneurship lies on __________
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38. ________ conceives the entrepreneur as the innovator who implements change within markets through the carrying out of new combinations such as introduction of new techniques of production, reorganization of an industry and innovation.
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39. One of the followings is the Major Environmental Factors
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40. The entrepreneur may not necessarily be an 'inventor' but the one that can make a _____________
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41. what helps in generating a large number of product ideas is __________
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42. The business environment is made up of the internal and the external environment and the main macro-environmental forces/factors found in the external environment and micro-environmental forces/factors/ in the internal environment of the _______
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43. A business owned, financed and managed by an individual is identified as _______
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44. The mix of norms, values and beliefs that are shared by a particular community be it a business community, a cultural (or ethnic) community, a country, or a geographical region defined as _________
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45. The word "Entrepreneur" is derived from the French verb 'entrepredre' which means' to _____________
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An entrepreneur must have good human _____________
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47. _________trait is defined as stable qualities that a person shows in most situations
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48. Socio economic value builds on the foundation of economic value creation by attempting to quantify and incorporate certain elements of _______
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49. A business _________ involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business
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50. Opportunity exploitation refers to activities conducted in order to gain economic returns from the discovery of a potential entrepreneurial ______
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