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 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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2. A manager Scientist or researcher who works inside an existing organization and notices opportunities for product improvements etc is ______
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3. Entrepreneurs come up with great ideas that lead to creativity and ___________
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4. _______ theory of entrepreneurship identifies traits, motives and personalities as the major factors that infuse the entrepreneurial spirit in an individual
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5. Illumination occurs when the idea surfaces as a realistic ________
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6. Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________
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7. Individual with an external locus of control believe that life's _______ are the result of external factors, such as chance, luck or fate.
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8. Entrepreneurs within an organization is referred to as _______
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9. _______is a great source of information, ideas and often opportunity.
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10. A technological process is a means to make and improve products and ________
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11. Entrepreneurship is inhibited by the social system, which denies opportunities for creative facilities for __________
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12. The conceptual cornerstone in the theory of entrepreneurship lies on __________
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13. 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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14. 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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15. Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities
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16. Which phase is the starting point for new ideas?
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17. Difficulties Faced in Establishing an Entrepreneurial Culture include the followings except _________
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18. The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process
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An entrepreneur must have good human _____________
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20. 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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21. 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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22. __________ defined the entrepreneur as someone who imagines, develops and realizes a vision
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23. 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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24. 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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25. Entrepreneurship is an activity embarked upon for a specific _____
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26. The entrepreneur may not necessarily be an 'inventor' but the one that can make a _____________
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27. Entrepreneur was first accorded prominence by _________
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28. 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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29. ______ are individuals who identify public problems and apply business acumen to resolve them.
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30. Individuals with an internal locus of control believe that they are able to life events
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31. Brainstorming. It helps in generating a large number of product _______
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32. ________ 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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33. Business idea arises from an opportunity in the _________
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34. _________ as an entrepreneur is someone who is being driven by certain forces that are mainly internal, personal attributes and traits
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35. The word "Entrepreneur" is derived from the French verb 'entrepredre' which means' to _____________
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36. The term Entrepreneur seems to have been introduced into Economics by ______
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37. _________ activities are transactions with creditors or investors used to fund either company operations or expansions
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38. The __________ theory of entrepreneurship embraces social culture as a driving force of entrepreneurship
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39. For most entrepreneurs, ideas begin with interest in a subject or curiosity about finding a solution to a particular _______
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40. Risk Taking theory contends about one‘s willingness to accept ____.
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41. (ILO) mean ______________
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42. The functionality of an entrepreneur is based on some established _______
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43. what helps in generating a large number of product ideas is __________
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44. The ___________ theory of entrepreneurship considers the relationship between economic conditions and incentives to arrive at a risk-reward equation that informs a determination on whether or not to pursue a potential venture
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45. Socio economic value builds on the foundation of economic value creation by attempting to quantify and incorporate certain elements of _______
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46. _________trait is defined as stable qualities that a person shows in most situations
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47. An idea once illuminated in the mind of an individual still has little meaning until verified as realistic and _______
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48. Span style approach will prevent you spreading your marketing budget and time too thinly is known as __________
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49. Starting /creating a new business is a serious exercise that requires a lot of __________ and hard work
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50. 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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