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. Opportunity exploitation refers to activities conducted in order to gain economic returns from the discovery of a potential entrepreneurial ______
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2. One of the followings is the Major Environmental Factors
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3. For most entrepreneurs, ideas begin with interest in a subject or curiosity about finding a solution to a particular _______
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4. Starting /creating a new business is a serious exercise that requires a lot of __________ and hard work
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5. _________ 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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6. 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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7. Idea generation (ideation) is an emerging buzzword representing the creative process of generating, developing, and communicating new _________
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8. An entrepreneur must have the competence and proficiency in the knowledge of the _________
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9. A _______ business may be defined as any business in which two or more family members are involved and the majority of ownership or control lies within a family.
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10. Which phase is the starting point for new ideas?
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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. Individuals with an internal locus of control believe that they are able to life events
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13. The position that individualism is related directly to innovation and entrepreneurship is not __________________
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14. The term Entrepreneur seems to have been introduced into Economics by ______
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15. Entrepreneurship is inhibited by the social system, which denies opportunities for creative facilities for __________
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16. Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________
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17. 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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18. Risk Taking theory contends about one‘s willingness to accept ____.
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19. 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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20. Entrepreneurship is an activity embarked upon for a specific _____
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21. _________ activities are transactions with creditors or investors used to fund either company operations or expansions
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22. 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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24. Entrepreneurial culture can be rooted in a society through 4 main avenues. According to ________
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25. The entrepreneur may not necessarily be an 'inventor' but the one that can make a _____________
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26. A technological process is a means to make and improve products and ________
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27. Difficulties Faced in Establishing an Entrepreneurial Culture include the followings except _________
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28. Successful entrepreneurs are good at turning ideas into ____
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29. ______ are individuals who identify public problems and apply business acumen to resolve them.
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30. Entrepreneurs within an organization is referred to as _______
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31. _________ as an entrepreneur is someone who is being driven by certain forces that are mainly internal, personal attributes and traits
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32. 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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33. The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process
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34. what helps in generating a large number of product ideas is __________
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35. A business owned, financed and managed by an individual is identified as _______
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36. ________ 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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37. _______is a great source of information, ideas and often opportunity.
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38. Which type of innovation is the reconfiguration of an established system to link together components and parts in a new way
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39. 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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40. _________trait is defined as stable qualities that a person shows in most situations
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41. The entrepreneur needs to evaluate the strengths and weaknesses of the business __________
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42. _______ theory of entrepreneurship identifies traits, motives and personalities as the major factors that infuse the entrepreneurial spirit in an individual
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43. 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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44. The psychologist view sees an entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and ________
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45. Entrepreneur was first accorded prominence by _________
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46. Brainstorming. It helps in generating a large number of product _______
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47. Illumination occurs when the idea surfaces as a realistic ________
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48. __________ defined the entrepreneur as someone who imagines, develops and realizes a vision
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49. Entrepreneurs come up with great ideas that lead to creativity and ___________
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50. Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities
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