GST204

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

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

3. (ILO) mean ______________

4. 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 _______

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

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

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

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

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

 An entrepreneur must have good human _____________

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

12. The psychologist view sees an entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and ________

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

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

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

16. ________ 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.

17. Business idea arises from an opportunity in the _________

18. 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

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

20. Entrepreneurship is an activity embarked upon for a specific _____

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

22. Successful entrepreneurs are good at turning ideas into ____

23. _________ is the process of having a good idea of the resources that will be required to turn your idea into an opportunity.

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

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

26. Entrepreneur was first accorded prominence by _________

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

28. 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 _________

29. 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

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

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

32. Entrepreneurs within an organization is referred to as _______

33. The psychologist sees an Entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and _______

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

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

36. 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 _________

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

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

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

40. 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.

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

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

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

44. One of the followings is the Major Environmental Factors

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

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

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

48. Which type of innovation is the reconfiguration of an established system to link together components and parts in a new way

49. 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 ___________

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