Study with Quizlet and memorize flashcards containing terms like With respect to entrepreneurship, a proactive person is best described as someone who has skill in identifying _____., Granval is concerned about the risks involved in launching a new business, especially the financial risks. If he chooses the sole proprietorship form of ownership, his liability is _____., This section of a full ...Study with Quizlet and memorize flashcards containing terms like Entrepreneur, Entrepreneurship, The Five P's of Entrepreneurship and more. ... (Purpose, Passion, Persistence, People, Profit) Purpose. They are driven to be independent and successful. They set goals and work hard to achieve them.Entrepreneurship (new and standard definition) is the process of creating something different with the value by devoting the necessary time and effort, assuming the accompanying financial, psychic, social risks and receiving the resulting rewards of monetary and personal satisfaction. Enterprise. created by an entrepreneur.Entrepreneurs start to create plans to make the dream a reality. Involves in sharing their ideas with other people, knowing that their vision is already occurring. It happens when the vision becomes a reality. In this stage, they can now have an income that keeps on multiplying even if they do not put much effort.entrepreneur. A (n) _________ is someone who recognizes an opportunity to start a business that other people may not have noticed and acts on it. add value to scare resources. According to French economist Jean-Baptiste Say, entrepreneurs ________. fewer than 500, less than $5 million. The U.S. Small Business Association defines a …Study with Quizlet and memorize flashcards containing terms like Define entrepreneur, What is the difference between an entrepreneur and a business owner?, Define entrepreneurial venture and more. ... An employee is a person who provides work for a company and is part of the payroll, receives benefits and an independent contractor is a person ...Study with Quizlet and memorize flashcards containing terms like What is an entrepreneur?, Employees vs. entrepreneurs, Why do people become entrepreneurs? and more.Study with Quizlet and memorize flashcards containing terms like An entrepreneur is a person who starts a new business or purchases an existing business., A business plan is a sketch of a new product idea., _____ skills are gained through work experience and education or training. and more.Study with Quizlet and memorize flashcards containing terms like An individual who initiates, creates and manages a new business can be called as _____., The entrepreneur was distinguished from capital provider in _____., Which could provide an individual with the motivation to start a new business venture? and more.The following are the importance of entrepreneurship education: 1. Entrepreneurship serves as a key economic driver. It focuses on wealth creation, and through small businesses started by entrepreneurial-minded individuals, it will also create jobs for the people. 2.Study with Quizlet and memorize flashcards containing terms like What is an Entrepreneur?, What is a reason why entrepreneurship is important?, How does entrepreneurship affect productivity? and more. ... An entrepreneur is a person who starts his/her own business instead of working for someone else. Click the card to flip 👆 ...Social entrepreneurship; refers to the identification, evolution and exploitation that result in social value. social entrepreneurs operate where commercial entrepreneurs don't see business opportunities i.e. negative indicators such as inequalities, poverty, lack of education and inadequate health care.Study with Quizlet and memorize flashcards containing terms like To be successful, all an entrepreneur needs to do is to come up with a good idea., A market segment consists of people with common characteristics., Psychographics are data that help businesses determine how often potential customers use a particular product or service. and more.Study with Quizlet and memorize flashcards containing terms like entrepreneur, Entrepreneurship, Employees and more. ... Is someone who provides a product or service for someone else for money. Entrepreneurship. Is the process of running a business of one's own.true or false: 90% of all US businesses employ fewer than 10 people. false. true or false: an entrepreneur can expect to earn a large profits immediately after starting a business. false. true or false: non-financial goals are important for an entrepreneur they help set prices for products and services. c.1- Understand fully the concepts and principles of entrepreneurship. 2- Internalize and Live out the character traits that are common among successful entrepreneur. 3- acquire, develop, sharpen, and focus your entrepreneurial skills. 1- Saying what the entreps. and how the entreps. says it.According to a French economist,_________________, an entrepreneur is a person who shifts economic resources out of an area of lower productivity into an area of higher productivity and greater yield. Joseph Schumpeter. `promise of growth, expansion, and long-term financial gain.The definition of an entrepreneur is a person who. Is willing to take a risk in the hunt for new business opportunities. Which business opportunity would be created by opening a store on the World Wide Web? An internet-based business. Which is an advantage of owning a franchise?Study with Quizlet and memorize flashcards containing terms like Using the definition from Burns (2016), define entrepreneurs, According to Schumpeter (1934), what is entrepreneurship? (this can be used at the start of the answer!), According to Shane (2003), what is entrepreneurship? and more.an entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise broad entrpreneurship an entrepreneur is someone who discovers or recognizes opportunities and acts on them--they are an agent of change.Study with Quizlet and memorize flashcards containing terms like Situations in which new goods, services, raw materials, and organizing methods can be introduced and sold at greater than their cost of production are known as, A true statement about entrepreneurial action is that _____. entrepreneurs need to evaluate the amount of uncertainty of a potential opportunity knowledge is the only ...A) results could be included in a business plan when applying for a small business loan. B) results would show whether an entrepreneur has enough experience to own a business. C) results may calculate the financial stability of an entrepreneur to start a business. D) results can identify strengths and weaknesses of the entrepreneur's leadership ...Study with Quizlet and memorize flashcards containing terms like Taking a risk to develop a new business is a process known as, Chief executive officers are business owners who see a new opportunity for a product or service and risk their time and money to start a business., Shruti Ramakrishnan noticed that in her native New York City, people are constantly …a transaction between two parties who agree to trade money for a product or service. voluntary exchange. A savvy entrepreneur should not ________. a. rely mainly on making mistakes for themselves and learning from them. b. appreciate the wisdom and experience of trusted advisors and mentors. c. learn from the mistakes of others.The difference between someone with an idea and an entrepreneur is _____. action. Identify the purposes of a critical path chart. - It shows which tasks can be handled concurrently. - It shows which tasks must be performed sequentially. Many new business owners ______ the time it takes to begin operations, and their business is harmed.A person who exhibits an entrepreneurial approach within an existing company What are some pros to being an entrepreneur versus an employee? I am my own boss and can learn a lot if the business does well.Study with Quizlet and memorize flashcards containing terms like What are three characteristics of entrepreneurs?, After a self-assessment, a potential entrepreneur has learned that she has a very low risk tolerance. Based upon this finding, which approach might be less stressful for the entrepreneur to have her own business?, An entrepreneur moves into a small town and notices several stores ...An entrepreneur would most likely be a low risk taker. trained manager. person who works well alone. person who has a brief work week. c What must an entrepreneur do after creating a business plan? open the business finance the business file the right paperwork identify an opportunityStudy with Quizlet and memorize flashcards containing terms like 1. What factors contribute to a growing interest in entrepreneurship? A. unemployment levels B. low job turnover rates C. increasing levels of creativity D. decreasing rates of discrimination, 2. Angel investors contribute to the entrepreneurial world by ________. A. outpacing venture capitalists in access to startup funds B ...a. certainty of employment and income. 1. How is a serial entrepreneur different than a social entrepreneur?a. A serial entrepreneur is someone who starts multiple nonprofit ventures, while a social entrepreneur is someone who starts only one nonprofit venture.b. A serial entrepreneur is someone who focuses on solving a problem, while a social ...Employee. Someone who works for someone else who owns a business and is responsible for doing a specific job that was created by the entrepreneur. Entrepreneurial. To think or act like and entrepreneur. Economics. A social Science that studies how people satisfy their demand for goods (things you can buy) and services (things people do for a fee)entrepreneur. a person who starts and owns a business. advertisement. a notice or announcement promoting a product or service that will be sold. profit. the money gained after all expenses have been paid. marketing. telling people what your product or service is and helping them understand why they would want or need it. monopoly.Study with Quizlet and memorize flashcards containing terms like According to the text, employers have one main purpose for reviewing resumes—choosing which people to contact for a job interview., The main point of "Another option: Don't plan your career" is to, The _____ job market is a group of job openings that have not been advertised. and more.business. organization that provides products or services, usually to make money ; employee. person who works in a business owned by someone else ; entrepreneur.True. Most new business owners obtain start up money to finance their business from banks. False. Small businesses employ only 10 percent of U.S. workers. False. Successful entrepreneurs have many personal characteristics in common. True. An entrepreneur is someone who takes a risk by starting his own business. True.Overall, a good entrepreneur must find the right mix of marketing communications to reach customers. This will vary depending on the start-up’s budget, goals, and strategies. …Entrepreneur. Click card to see definition 👆. Someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of it. Click again to see term 👆. 1/15.True. Business knowledge can increase your entrepreneurial potential. False. Most entrepreneurs work less than 40 hours per week. True. people, both young and old, can become entrepreneurs. False. Only entrepreneurs, not employees, need to study entrepreneurship. Study with Quizlet and memorize flashcards containing terms like Entrepreneur ...the ability to stick to rules of their own free will. Which statement defines perseverance? the steadfastness and commitment in achieving a goal. Read the sentence. Entrepreneurs construct a _ [blank]_ statement as a way to imagine their future plans for the business. Which word completes the sentence? XXX dream. try vision.Study with Quizlet and memorize flashcards containing terms like An entrepreneur is someone who: a) manage any enterprise, especially a business. b) starts a business c) is on the executive board of a business d) organizes and manages any enterprise, especially a business, usually with considerable initiative and risk, Linda opened a coffee shop that …1 of 18. Term. James lives near a university and observes that almost every student uses a cell phone. He decides to open a small shop offering repair services for cell phones. His shop is an instant success. James has satisfied an area of need called ________.List four benefits of entrepreneurial thinking. - Earning money without having to depend on others. - Achieving pride and personal satisfaction. - Getting to make your own rules. - Opens opportunities to help make your community and world a better play in which to live.15 of 15. Quiz yourself with questions and answers for Principles of Management - Chapter 6 Quiz, so you can be ready for test day. Explore quizzes and practice tests created by teachers and students or create one from your course material.Strategic Formulation. Emphasizes the planning process in successful venture developments. Leveraging unique elements. Entrepreneurial Firms Economic Impact. 1. integral part of the renewal process. 2. essential mechanism by which millions enter the economic and social mainstream of society. Entrepreneurships Risk. Financial Risk Verse Profit.7.Business plans most likely do not reduce uncertainly, but surely prevent reaching unplanned, yet desirable goals. 8.Luck is part of the entrepreneurial success, but with the entrepreneurial method the wheel of fortune turns more often. 9.We are not born as entrepreneurs, but can learn to deal with uncertainty.Query \PageIndex {4} “An entrepreneur can be described as one who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth …Study with Quizlet and memorize flashcards containing terms like According to the U.S. Small Business Administration, a common delineation of a small business is one that employs fewer than _____ people., An entrepreneur is one who _____., Nearly _____ of entrepreneurs start their businesses between the ages of 20 and 44 and the number of Americans in that age range currently is _____ . and more.