Entrepreneurship

Exercise 1: True or false question

1.Many people view entrepreneurship as a less attractive career path.True / false

2.According Adam Smith, an entrepreneur is a person who acts as an agent in transforming demand into supply.True / false

3.The word entrepreneur comes from the French word entreprendre which describes people who “take no risk”.True / false

4.Firm with an entrepreneurial spirit are proactive, innovative and risk taking.True / false

5.Entrepreneur perceives and exploits profit opportunities by introducing innovative, new and unique products and services.True / false

6.People kick-start their own business to pursue financial reward but this motivation is normally secondary.True / false

7.The success of an entrepreneur depends heavily on the tendency to wait and see existing opportunities.True / false

8.An entrepreneur has to be open and sometimes close minded to the changing environment.True / false

Entrepreneurship

9.An entrepreneur always looks for and takes action on opportunities and threats.True / false

10.

An entrepreneur places the highest priority on getting a task completed.

True / false

11.

A successful entrepreneur has a strong belief in himself and his own abilities.

True / false

12.

Investors are looking for entrepreneurs who are committed to their business ideas.

True / false

13.

It is a myth that the age range for early stage entrepreneurial activity is from 35 to 45 years old

True / false

14.

The majority of the entrepneurs love the spotlight.

True / false

Entrepreneurship

15.

An entrepreneur must yield product that can at least satisfy customer need and wants.

True / false

16.

Entrepreneurs are normally trying out something new and the failure rate is naturally low.

True / false

17.

An entrepreneur will face problems and issues with other indirectly.

True / false

18.

Entrepreneurs are usually moderate risk takers.

True / false

19.

For many entrepreneurs, the hardest times they face are shortly after they have launched their business.

True / false

20.

A successful entrepreneurs always finds ways to do thing faster, using fewer re-sources or at lower cost.

True / false