Quiz LibraryWhat is Entrepreneurship? definition, characteristics and entrepreneurial process
Created from Youtube video: https://www.youtube.com/watch?v=MdNNGfoxrqAvideo
Concepts covered:entrepreneurship, entrepreneurial process, innovation, risk-taking, business model
The video explains entrepreneurship as the process of creating a new enterprise with the aim of making a profit, involving risk-taking, innovation, and efficient resource management. It outlines the entrepreneurial process, including idea generation, business model development, resourcing, promotion, actualization, and harvesting, while highlighting the qualities of an entrepreneur such as commitment, leadership, and risk-taking ability.
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What is Entrepreneurship? definition, characteristics and entrepreneurial process
Concepts covered:entrepreneurship, entrepreneurial process, innovation, risk-taking, business model
The video explains entrepreneurship as the process of creating a new enterprise with the aim of making a profit, involving risk-taking, innovation, and efficient resource management. It outlines the entrepreneurial process, including idea generation, business model development, resourcing, promotion, actualization, and harvesting, while highlighting the qualities of an entrepreneur such as commitment, leadership, and risk-taking ability.
Question 1
Entrepreneurship involves taking financial risks for profit.
Question 2
What is crucial for effective business management?
Question 3
Entrepreneurship primarily aims to make a _____.
Question 4
CASE STUDY: An entrepreneur has a unique idea but lacks a business plan.
What is the entrepreneur's next step?
Question 5
CASE STUDY: A startup is ready to launch its first product.
Select three correct pre-launch activities.
Question 6
Innovation is a key characteristic of entrepreneurship.
Question 7
How does an entrepreneur assess a business idea?
Question 8
An entrepreneur must have a high degree of _____.
Question 9
CASE STUDY: A tech startup is struggling to secure funding for its innovative app.
What should the startup focus on next?
Question 10
Entrepreneurs avoid risks to ensure business success.
Question 11
What is the primary goal of entrepreneurship?
Question 12
The first step in the entrepreneurial process is _____.

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