Category: GST204



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A. 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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B. An entrepreneur must have the competence and proficiency in the knowledge of the _________

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 An entrepreneur must have good human _____________

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D. Socio economic value builds on the foundation of economic value creation by attempting to quantify and incorporate certain elements of _______

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E. Entrepreneurs come up with great ideas that lead to creativity and ___________

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F. Business idea arises from an opportunity in the _________

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G. 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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H. _______is a great source of information, ideas and often opportunity.

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I. Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________

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J. __________ defined the entrepreneur as someone who imagines, develops and realizes a vision

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K. 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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L. _________  as an entrepreneur is someone who is being driven by certain forces that are mainly internal, personal attributes and traits

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M. ______ are individuals who identify public problems and apply business acumen to resolve them.

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N. Span style approach will prevent you spreading your marketing budget and time too thinly is known as __________

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O. Entrepreneurship is inhibited by the social system, which denies opportunities for creative facilities for __________

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P. 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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Q. The entrepreneur may not necessarily be an 'inventor' but the one that can make a _____________

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R. The entrepreneur needs to evaluate the strengths and weaknesses of the business __________

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S. 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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T. Brainstorming. It helps in generating a large number of product _______

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U. The establishment of any entrepreneurial Venture is risky and the entrepreneur has to assume ______

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V. The position that individualism is related directly to innovation and entrepreneurship is not __________________

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W. what helps in generating a large number of product ideas is __________

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X. Idea generation (ideation) is an emerging buzzword representing the creative process of generating, developing, and communicating new _________

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Y. Scanning the environment is better and safer method of assessing than jumping Into the_______

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Z. Which phase is the starting point for new ideas?

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AA. 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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AB. _________trait is defined as stable qualities that a person shows in most situations

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AC. 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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AD. Opportunity exploitation refers to activities conducted in order to gain economic returns from the discovery of a potential entrepreneurial ______

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AE. The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process

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AF. 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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AG. An idea once illuminated in the mind of an individual still has little meaning until verified as realistic and _______

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AH. The term Entrepreneur seems to have been introduced into Economics by ______

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AI. The functionality of an entrepreneur is based on some established _______

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AJ. Successful entrepreneurs are good at turning ideas into ____

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AK. 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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AL. An entrepreneur is a dynamic person who takes calculated _____

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AM. Entrepreneur was first accorded prominence by _________

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AN. Difficulties Faced in Establishing an Entrepreneurial Culture include the followings except _________

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AO. (ILO) mean ______________

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AP. Entrepreneurs within an organization is referred to as _______

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AQ. A technological process is a means to make and improve products and ________

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AR. The conceptual cornerstone in the theory of entrepreneurship lies on __________

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AS. A business owned, financed and managed by an individual is identified as _______

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AT. 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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AU. The __________ theory of entrepreneurship embraces social culture as a driving force of entrepreneurship

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AV. 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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AW. Entrepreneurship is an activity embarked upon for a specific _____

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AX. Entrepreneurial culture can be rooted in a society through 4 main avenues. According to ________

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AY. 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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AZ. ________ 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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BA. A manager Scientist or researcher who works inside an existing organization and notices opportunities for product improvements etc is ______

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BB. According to David Mc Clelland (1961), an entrepreneur is a dynamic person who takes calculated  ___________________

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BC. Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities

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BD. _________ activities are transactions with creditors or investors used to fund either company operations or expansions

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BE. _______ theory of entrepreneurship identifies traits, motives and personalities as the major factors that infuse the entrepreneurial spirit in an individual

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BF. Individuals with an internal locus of control believe that they are able to life events

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BG. Illumination occurs when the idea surfaces as a realistic ________

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BH. For most entrepreneurs, ideas begin with interest in a subject or curiosity about finding a solution to a particular _______

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BI. Risk Taking theory contends about one‘s willingness to accept ____.

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BJ. 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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BK. Starting /creating a new business is a serious exercise that requires a lot of __________ and hard work

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BL. The word "Entrepreneur" is derived from the French verb 'entrepredre' which means' to ­­­­­­­­­­­­_____________

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BM. 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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BN. 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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BO. _________ 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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BP. One of the followings is the Major Environmental Factors

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