The functions are: 1. 4. When an entrepreneur seeks a high profit, the risk is usually higher. Select a product or service that will be sustainable. a. Self-employed person b. MBA graduate hired by a firm to be its CEO c. Production-line worker d. Customer of a firm. (1 point) a sole proprietorship a corporation one who opens a new business a bank that loans money 2. None of the two mentioned Which of the following is not a characteristic that is helpful for an entrepreneur to have? Both of the mentioned options 4. Management Control 3. A) Development of a new product . Question. Which one of the following theory has the attribute of moderate risk taking as a function of skill, not chance? The Other Side of Entrepreneurs. ... What would you do in the following situation: You started a business and you've been running it successfully for a year and it's getting close to the break-even point. Which of the following statements is true about new venture risk-taking: A. Which of the following is an advantage of being an entrepreneur in the consumer service industry? Which one of the following is an advantage of the small firm in the innovation process? The more modern entrepreneurship definition is … Hire a board of directors to manage the business. The entrepreneur does not ask questions about whether they can succeed or whether they are worthy of success. The entrepreneur assembles and organizes the above mentioned different organs of an enterprise in such a way that these combinedly start functioning as one, i.e., enterprise. An entrepreneur refers to a person who establishes a new business, run it and takes all the risks and profit by himself. Office or warehouse space is generally unnecessary The only educational requirement is a bachelor's degree The only initial investment required is the purchase of hard goods Business basics can … 3. Shark Tank is an entertainment show, without question. Which one of the following is the step involved in setting up a new enterprises? Malia started selling jewelry she made in an online store. s. Log in for more information. He is a person or an individual with a new … What is Entrepreneurship? Which one of the following actions by an entrepreneur is most likely to contribute to creative destruction? When a single person undertakes an entrepreneurial venture then it is termed as an individual entrepreneur. ANSWER: D 16. Open Minded. C. Entrepreneurship takes place in a wide variety of contexts. D. 1. Innovators are the types of entrepreneurs who come up with completely new ideas and turn them into viable businesses. Exporting 3. But there are considerable risks that an entrepreneur must face in order to obtain high rewards. Ability of the entrepreneur to carry out multiple tasks B. The following are six reasons why entrepreneurship capital is important to the economy: 1. The opportunity to work for yourself instead of working for others is the best reward of any entrepreneur. Characteristics of Entrepreneurship: Entrepreneurship is characterized by the following features: 1. Entrepreneurship is a process of actions of an entrepreneur who is a person always in search of something new and exploits such ideas into gainful opportunities by accepting the risk and uncertainty with the enterprise. 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. Entrepreneurship Management; Page 1; Entrepreneurship Management. What is an entrepreneur? An entrepreneur is someone who assumes the major risks of a new business by committing which of the following? Innovation. °Which of the following is classified as an entrepreneur? Entrepreneur: This is an individual that comes up with a business idea and develops a venture to generate profit. "Entrepreneur" (/ ˌ ɒ̃ t r ə p r ə ˈ n ɜːr,-ˈ nj ʊər / (), UK also /-p r ɛ-/) is a loanword from French.The word first appeared in the French dictionary entitled Dictionnaire Universel de Commerce compiled by Jacques des Bruslons and published in 1723. Institutional entrepreneur: Institutions are-groups of persons with a common goal. Asked 4/24/2014 12:08:40 PM. About Bayt.com. Entrepreneur is the most important factor in the process of economic development. They are confident with the knowledge that they will make their businesses succeed. But as a basic entrepreneurship definition, that one is a bit limiting. A. Cooper manages the customer service department of a tool manufacturing business. As a change agent, […] 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 … Age, education and relevant work experience. 27. C) Issuing shares . D. All the above. Decision Making 2. ADVERTISEMENTS: A complete guide to types of Entrepreneurs. Entrepreneurs build companies. A)True B)False 6 Which of the following statements is (are) true? The following points highlight the top five functions of an entrepreneur. If successful, they reap the fruits of their labor. Which of the following is not one of the three basic types of entrepreneur? Joe's success is attributable to his entrepreneurship. Question options: Delegate the risk to start a company. Which of the following is an example of an entrepreneur?