C. pull influences. 27. A)True B)False 5 The growth of entrepreneurship can be easily promoted by Federal and State Governments. a) Creating a business plan . The following points highlight the top five functions of an entrepreneur. Recognition of an opportunity. When the entrepreneur seeks to limit risk, the reward tends to increase. Decision Making: The primary task of an entrepreneur … Good entrepreneurs are able to identify the few key factors that are important to a decision or a business. When an entrepreneur seeks a high profit, the risk is usually higher. Which of the following is an essential part of being an entrepreneur? 4. Select a product or service that will be sustainable. Bayt.com is the leading job site in the Middle East and North Africa, connecting job seekers with employers looking to hire. (TCO1) Which of the following is considered to be an entrepreneur? Entrepreneurship is the act of being an entrepreneur. None of the two mentioned Which of the following is not a characteristic that is helpful for an entrepreneur to have? Innovation. The opportunity to work for yourself instead of working for others is the best reward of any entrepreneur. 1. Which of the following does an entrepreneur typically need to be willing to do to start a business? b. attainable, but the economy is inefficient. Entrepreneurs Create New Businesses. a. Self-esteem b. But as a basic entrepreneurship definition, that one is a bit limiting. B. Kevin used his own ideas and assets to start his graphic design business C. Holly works for a company that has become extremely successful because it's … He is a person or an individual with a new … Which of the following is not one of the three basic types of entrepreneur? The Other Side of Entrepreneurs. Self-finance the new company. Having a lot of money B. Exporting 3. Innovators are the types of entrepreneurs who come up with completely new ideas and turn them into viable businesses. He is the one who efficiently makes use of the factors of production and creates the output and makes the profit. s. Log in for more information. Ability to raise finance C. Ability to carry out R&D D. Ability of the entrepreneur to act on new ideas or product development In my own definition, an entrepreneur is an individual who sets up business or businesses, identifies and solves problems, creative, innovative, opportunist, risk-taker, self-starter, and open-minded with the hope of making a profit from the enterprise. In most cases, these entrepreneurs change the way people think about and do things. Both of the mentioned options 4. Significant event at home or work. Need for independence; Need for achievement; Need for affiliation; Need for authority; View answer 1. An entrepreneur is a person who makes use of land, labor, and capital to make the production process happen in an economy. An entrepreneur is someone who assumes the major risks of a new business by committing which of the following? Hire a board of directors to manage the business. Individual entrepreneur: Person is the pioneer of entrepreneurship in the history of human civilization. A manager in a large corporation A financial manager in a small firm An owner-manager who bought out the founder of a firm A salaried technician in a rapidly-growing high-tech firm ° 5 points Question 2 ° RsQ_002 Compared to large corporations?xml:namespace prefix = st1 /, small businesses play just as important a part in the … 9. International entrepreneurship is 1. C. Entrepreneurship takes place in a wide variety of contexts. Entrepreneur is the most important factor in the process of economic development. The perks of being an entrepreneur may look so grand that some have tried following the steps of the most successful businessmen that we have right now. (1 point) a sole proprietorship a corporation one who opens a new business a bank that loans money 2. A) Development of a new product . Taking risks is an essential part of being an entrepreneur. An entrepreneur refers to a person who establishes a new business, run it and takes all the risks and profit by himself. Which of the following statements is true about new venture risk-taking: A. D. Entrepreneurship is the act of creating a business or businesses while building and scaling it to generate a profit.. Age, education and relevant work experience. 1. Thus, organizing function of an entrepreneur ultimately provides a mechanism for purposive, integrated and co-operative action by many people in a joint and organized effort to implement a business plan. °Which of the following is classified as an entrepreneur? A. 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