Category: GST204



1 / 50

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

2 / 50

Successful entrepreneurs are good at turning ideas into ____

3 / 50

A business _________ involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business

4 / 50

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

5 / 50

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

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.

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.

8 / 50

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

9 / 50

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

10 / 50

Entrepreneurs within an organization is referred to as _______

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.

12 / 50

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

13 / 50

Which kind of innovation changes the core design of one or more components but does not change the entire product architecture

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 _________

15 / 50

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

16 / 50

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

17 / 50

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

18 / 50

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

19 / 50

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

20 / 50

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

21 / 50

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

22 / 50

Business idea arises from an opportunity in the _________

23 / 50

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

24 / 50

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

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

26 / 50

An entrepreneur is a dynamic person who takes calculated _____

27 / 50

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

28 / 50

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

29 / 50

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

30 / 50

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

31 / 50

One of the followings is the Major Environmental Factors

32 / 50

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

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 _________

34 / 50

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

35 / 50

(ILO) mean ______________

36 / 50

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

37 / 50

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

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

39 / 50

Entrepreneurship is an activity embarked upon for a specific _____

40 / 50

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

41 / 50

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

42 / 50

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

43 / 50

Illumination occurs when the idea surfaces as a realistic ________

44 / 50

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

45 / 50

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

46 / 50

Entrepreneur was first accorded prominence by _________

47 / 50

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

48 / 50

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

49 / 50

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

50 / 50

Which phase is the starting point for new ideas?

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