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. An entrepreneur must have the competence and proficiency in the knowledge of the _________
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2. 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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3. The establishment of any entrepreneurial Venture is risky and the entrepreneur has to assume ______
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4. A technological process is a means to make and improve products and ________
5 / 50
5. 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 ___________
6 / 50
6. The psychologist sees an Entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and _______
7 / 50
7. Risk Taking theory contends about one‘s willingness to accept ____.
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8. The functionality of an entrepreneur is based on some established _______
9 / 50
9. _______ theory of entrepreneurship identifies traits, motives and personalities as the major factors that infuse the entrepreneurial spirit in an individual
10 / 50
10. Entrepreneurs come up with great ideas that lead to creativity and ___________
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11. 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 _______
12 / 50
12. Entrepreneurship is inhibited by the social system, which denies opportunities for creative facilities for __________
13 / 50
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
14 / 50
14. 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 _________
15 / 50
15. The psychologist view sees an entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and ________
16 / 50
16. The position that individualism is related directly to innovation and entrepreneurship is not __________________
17 / 50
17. For most entrepreneurs, ideas begin with interest in a subject or curiosity about finding a solution to a particular _______
18 / 50
18. The term Entrepreneur seems to have been introduced into Economics by ______
19 / 50
19. _________trait is defined as stable qualities that a person shows in most situations
20 / 50
20. Entrepreneurship is an activity embarked upon for a specific _____
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21. 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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22. A business owned, financed and managed by an individual is identified as _______
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23. An idea once illuminated in the mind of an individual still has little meaning until verified as realistic and _______
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24. Socio economic value builds on the foundation of economic value creation by attempting to quantify and incorporate certain elements of _______
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25. _________ 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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26. ______ are individuals who identify public problems and apply business acumen to resolve them.
27 / 50
27. Scanning the environment is better and safer method of assessing than jumping Into the_______
28 / 50
28. Entrepreneurial culture can be rooted in a society through 4 main avenues. According to ________
29 / 50
29. The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process
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30. Entrepreneur was first accorded prominence by _________
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31. __________ defined the entrepreneur as someone who imagines, develops and realizes a vision
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32. _________ as an entrepreneur is someone who is being driven by certain forces that are mainly internal, personal attributes and traits
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33. Idea generation (ideation) is an emerging buzzword representing the creative process of generating, developing, and communicating new _________
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34. 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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35. Successful entrepreneurs are good at turning ideas into ____
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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.
37 / 50
37. The conceptual cornerstone in the theory of entrepreneurship lies on __________
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38. 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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39. _______is a great source of information, ideas and often opportunity.
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40. Which phase is the starting point for new ideas?
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41. 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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42. A manager Scientist or researcher who works inside an existing organization and notices opportunities for product improvements etc is ______
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43. Brainstorming. It helps in generating a large number of product _______
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44. Starting /creating a new business is a serious exercise that requires a lot of __________ and hard work
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45. Individuals with an internal locus of control believe that they are able to life events
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46. 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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47. The entrepreneur needs to evaluate the strengths and weaknesses of the business __________
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48. Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________
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49. what helps in generating a large number of product ideas is __________
50 / 50
50. Difficulties Faced in Establishing an Entrepreneurial Culture include the followings except _________
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