Category: GST204 0 GST204 1 / 50 Brainstorming. It helps in generating a large number of product _______ Check 2 / 50 Successful entrepreneurs are good at turning ideas into ____ Check 3 / 50 A business _________ involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business Check 4 / 50 __________ defined the entrepreneur as someone who imagines, develops and realizes a vision Check 5 / 50 Individuals with an internal locus of control believe that they are able to life events Check 6 / 50 ________ 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. Check 7 / 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. Check 8 / 50 _________ as an entrepreneur is someone who is being driven by certain forces that are mainly internal, personal attributes and traits Technologist Managerial Educationist Technician 9 / 50 The psychologist sees an Entrepreneur as someone who is being driven by certain forces that are mainly internal, personal attributes and _______ Values Humor Esteem Impacting 10 / 50 Entrepreneurs within an organization is referred to as _______ Managers Intrepreneurs Entrepreneurs Sole trader 11 / 50 Individual with an external locus of control believe that life's _______ are the result of external factors, such as chance, luck or fate. Check 12 / 50 The entrepreneur needs to evaluate the strengths and weaknesses of the business __________ Quaterly Once Everyday Forthnights 13 / 50 Which kind of innovation changes the core design of one or more components but does not change the entire product architecture Technological renewal Technological innovation Technological strategies Technological ideology 14 / 50 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 _________ procedure law method tradition 15 / 50 The establishment of any entrepreneurial Venture is risky and the entrepreneur has to assume ______ Meltdown Loss Problems Risk 16 / 50 _________trait is defined as stable qualities that a person shows in most situations Check 17 / 50 Socio economic value builds on the foundation of economic value creation by attempting to quantify and incorporate certain elements of _______ self esteem social make-up social interest social value 18 / 50 An entrepreneur must have the competence and proficiency in the knowledge of the _________ Check 19 / 50 Sociologist’s view of entrepreneurship is inhibited by the social system, which denies opportunities for _________ facilities Check 20 / 50 An idea once illuminated in the mind of an individual still has little meaning until verified as realistic and _______ Beneficial Good Better Useful 21 / 50 A business owned, financed and managed by an individual is identified as _______ Check 22 / 50 Business idea arises from an opportunity in the _________ Economy Sales Funds Market 23 / 50 Starting /creating a new business is a serious exercise that requires a lot of __________ and hard work Check 24 / 50 For most entrepreneurs, ideas begin with interest in a subject or curiosity about finding a solution to a particular _______ Fault Risk Solution Problem 25 / 50 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 Check 26 / 50 An entrepreneur is a dynamic person who takes calculated _____ Check 27 / 50 Entrepreneur and Entrepreneurship have been a point of interest to economics as early as ____________ Check 28 / 50 Opportunity exploitation refers to activities conducted in order to gain economic returns from the discovery of a potential entrepreneurial ______ Gains Losses Debts Risks 29 / 50 _______is a great source of information, ideas and often opportunity. Check 30 / 50 A technological process is a means to make and improve products and ________ Imaginary Binary Improve Purposeful 31 / 50 One of the followings is the Major Environmental Factors Policy making Marketing Cultism Selling 32 / 50 The economic theory of entrepreneurship is sub-divided into three namely; Classical theory, __________ and Austrian Market Process Check 33 / 50 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 _________ Marketing Funding Economic Sales 34 / 50 Idea generation (ideation) is an emerging buzzword representing the creative process of generating, developing, and communicating new _________ Ideas Methods Plans Processes 35 / 50 (ILO) mean ______________ Check 36 / 50 A manager Scientist or researcher who works inside an existing organization and notices opportunities for product improvements etc is ______ Producer Manager Economist Marketer 37 / 50 _______ theory of entrepreneurship identifies traits, motives and personalities as the major factors that infuse the entrepreneurial spirit in an individual Check 38 / 50 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 Check 39 / 50 Entrepreneurship is an activity embarked upon for a specific _____ Check 40 / 50 The __________ theory of entrepreneurship embraces social culture as a driving force of entrepreneurship Check 41 / 50 The position that individualism is related directly to innovation and entrepreneurship is not __________________ Check 42 / 50 Risk Taking theory contends about one‘s willingness to accept ____. Check 43 / 50 Illumination occurs when the idea surfaces as a realistic ________ Idea Concept Thoughts Imagination 44 / 50 _________ is the process of having a good idea of the resources that will be required to turn your idea into an opportunity. Check 45 / 50 According to David Mc Clelland (1961), an entrepreneur is a dynamic person who takes calculated ___________________ Check 46 / 50 Entrepreneur was first accorded prominence by _________ Joseph Peter Joseph J. Schumpeter John Peter Joseph Schumpeter 47 / 50 Entrepreneurship is inhibited by the social system, which denies opportunities for creative facilities for __________ Accounting audit Financial Marketing Economical 48 / 50 The term Entrepreneur seems to have been introduced into Economics by ______ Joseph J. Schumpeter John Schumpeter Joseph Schumpeter Joseph Peter 49 / 50 Span style approach will prevent you spreading your marketing budget and time too thinly is known as __________ Broad Thin Wide Narrow 50 / 50 Which phase is the starting point for new ideas? Revenue Creation and renovation Revenue Generation and Mobilization Wealth creation and marketing strategies Revenue Generation and strategies Restart quiz Rate this quiz Send feedback
