Which one of the following is not true for entrepreneurs

Even if some of these functions are outsourced, the risk is still carried by the entrepreneur. This makes entrepreneurship different from inheriting and/or running an existing business, working for astartupor entrepreneurfor a salary, being a commissioned agent, or selling already available goods or services as a • Entrepreneurs are individuals who undertake the organization of a new business and the risks and rewards that come with it. • Entrepreneurs tend to be classified as those who take on high-growth, high-risk innovations while small business owners oversee an established business with an established product and customer base. • Successful entrepreneurs are seen as a driving force in the modern economy. Small Businesses vs. Entrepreneurial Ventures There is a fine line between being a small business (SB) owner and an entrepreneur—the roles actually have a lot in common—but there are distinct differences that set them apart. Small businesses usually deal with known and established products and services, while entrepreneurial ventures focus on new, innovative offerings. Because of this, small business owners tend to deal with known risks and entrepreneurs face unknown risks. Limited growth with continued profitability is what is hoped for in most small businesses, while entrepreneurial ventures target rapid growth and high returns. As a result, entrepreneurial ventures generally impact economies and communities in a significant manner, which also results in a cascadin...

1. An individual who initiates, creates and manages a new business can be called _____________. A. A leader B. A manager C. An entrepreneur D. A professional ANSWER: C 2. Trademarks relate to _______. A. Practice and knowledge acquired through experience B. The protection of proprietary information of commercial value C. The right to reproduce ones own original work D. Brand identity ANSWER: D 3. Which could provide an individual with the motivation to start a new business venture? A. The financial rewards. B. A desire to be independent. C. Risk-taking D. All the above. ANSWER: D 4. Which of the following factors would not be included in a PESTLE analysis? A. Government re-cycling policy. B. Proposed reduction in interest rates. C. Competitor activity. D. Demographic changes. ANSWER: C 5. Which industrial sector tends to naturally promote small-scale businesses and Entrepreneurship, and generally has lower barriers to market entry? A. Service. B. Manufacturing. C. Distribution. D. Agriculture. ANSWER: A 6. Why are small businesses important to a country’s economy? A. They give an outlet for entrepreneurs. B. They can provide specialist support to larger companies. C. They can be innovators of new products. D. All the above. ANSWER: D 7. A business arrangement where one party allows another party to use a business name and sell its products or services is known as__________. A. A cooperative. B. A franchise. C. An owner-manager business. D. A limited company. ANSWER: B 8. W...

Entrepreneurship Development MCQ Questions and Answers : The Entrepreneurship development MCQ covers a wide range of applications in various fields. The elements of basic knowledge must consider, among others, the support for business development and the mechanisms of its transmission. The exercises and MCQs on Entrepreneurship allow you to test your knowledge in this area. Preparing for MBA, SET, CSIR NET entrance exams? There is a lot to study and revise. So, you must plan your study schedule and revisions systematically with the help of some good Multiple Choice Questions. With plenty of MCQs on Entrepreneurship available online these days, it is easy to plan your studies and aim your efforts toward scoring good marks in the Entrepreneurship Development entrance exam MCQs. To help you study, revise and practice well, we have a list of some of the most popular Multiple Choice Questions on Entrepreneurship Development with Answers Pdf. Go for the MCQ with your revision plan and subject needs and start preparing for your exams. Here Below we provide a list of MCQs for Entrepreneurship Development outlined by experts who suggest the most important MCQ for various competitive exams. The below MCQ takes you directly to the corresponding topic where the detailed article along with MCQs is provided for a smooth, effortless searching experience. Before going ahead to solve MCQ on Entrepreneurship Development papers or taking up mock tests, make sure you cover the basic concepts ...

Introduction An entrepreneur is one of the riskiest decisions a person can make in their lifetime, but it is also one of the most rewarding. The journey of entrepreneurs comes with its share of triumphs and tribulations, but the benefits of being your own boss and creating your own path in life outweigh the stressors and setbacks that come with it. However, success in entrepreneurship is not an overnight achievement and requires grit, determination, and discipline. In this essay, we will discuss the ten best ways for entrepreneurs to become successful in life. The first way to become successful as The second way to become successful as entrepreneurs is to have a strong team of advisors, mentors, and support system. Assembling a team of experienced people who believe in your vision and can offer practical advice is essential. A mentor can provide guidance from their own experience and share invaluable insights and knowledge that can help you navigate through the many challenges of entrepreneurship. A supportive family, friends, and colleagues can provide much-needed encouragement and emotional support during difficult times. The third way to become successful as The fourth way to become successful as entrepreneurs is to stay focused on your goals. It is easy to get sidetracked by distractions and setbacks, but it is important to stay focused on your goals and objectives. This means avoiding procrastination, staying disciplined, and keeping your priorities in order. When you...

Which of the following is not one of the five common myths about entrepreneurs? A) Entrepreneurs are tenacious. B) Entrepreneurs are moderate risk takers. C) Entrepreneurs should be young and energetic. D) Entrepreneurs love the spotlight. E) Entrepreneurs are born not made. Entrepreneurship Myths: Stories that are made up about certain groups of people or events that may or may not have happened are known as myths. When it comes to people who start their own business, there are many of these myths propagated about them. Answer and Explanation: