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. Business idea arises from an opportunity in the _________
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2. The term Entrepreneur seems to have been introduced into Economics by ______
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3. Entrepreneurial culture can be rooted in a society through 4 main avenues. According to ________
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4. The entrepreneur needs to evaluate the strengths and weaknesses of the business __________
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5. The establishment of any entrepreneurial Venture is risky and the entrepreneur has to assume ______
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6. A business owned, financed and managed by an individual is identified as _______
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7. Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities
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8. Individuals with an internal locus of control believe that they are able to life events
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9. 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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10. Socio economic value builds on the foundation of economic value creation by attempting to quantify and incorporate certain elements of _______
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11. 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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12. The __________ theory of entrepreneurship embraces social culture as a driving force of entrepreneurship
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13. According to David Mc Clelland (1961), an entrepreneur is a dynamic person who takes calculated ___________________
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14. Risk Taking theory contends about one‘s willingness to accept ____.
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15. The entrepreneur may not necessarily be an 'inventor' but the one that can make a _____________
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16. Which phase is the starting point for new ideas?
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17. __________ defined the entrepreneur as someone who imagines, develops and realizes a vision
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18. The psychologist sees an Entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and _______
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19. 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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20. An idea once illuminated in the mind of an individual still has little meaning until verified as realistic and _______
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21. Span style approach will prevent you spreading your marketing budget and time too thinly is known as __________
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22. Opportunity exploitation refers to activities conducted in order to gain economic returns from the discovery of a potential entrepreneurial ______
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23. what helps in generating a large number of product ideas is __________
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24. 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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25. An entrepreneur must have the competence and proficiency in the knowledge of the _________
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26. _________trait is defined as stable qualities that a person shows in most situations
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27. The functionality of an entrepreneur is based on some established _______
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28. _________ as an entrepreneur is someone who is being driven by certain forces that are mainly internal, personal attributes and traits
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29. ______ are individuals who identify public problems and apply business acumen to resolve them.
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30. Scanning the environment is better and safer method of assessing than jumping Into the_______
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31. 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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32. Entrepreneurship is an activity embarked upon for a specific _____
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33. _________ 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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34. Entrepreneurs come up with great ideas that lead to creativity and ___________
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35. The word "Entrepreneur" is derived from the French verb 'entrepredre' which means' to _____________
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36. (ILO) mean ______________
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37. 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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38. Brainstorming. It helps in generating a large number of product _______
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39. Successful entrepreneurs are good at turning ideas into ____
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40. _______is a great source of information, ideas and often opportunity.
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41. Entrepreneurs within an organization is referred to as _______
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42. ________ 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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43. 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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44. 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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45. Illumination occurs when the idea surfaces as a realistic ________
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46. A manager Scientist or researcher who works inside an existing organization and notices opportunities for product improvements etc is ______
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47. 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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An entrepreneur must have good human _____________
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49. _________ activities are transactions with creditors or investors used to fund either company operations or expansions
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50. Starting /creating a new business is a serious exercise that requires a lot of __________ and hard work
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