ENTREP

Explore the World of Entrepreneurship

Test your knowledge of entrepreneurship with our comprehensive quiz that delves into the multifaceted concepts and historical perspectives surrounding entrepreneurial activities. Whether you’re a student, educator, or simply curious about the subject, this quiz will challenge your understanding and broaden your insights.

What you will discover:

Definitions and perspectives on entrepreneurship
The significance of innovation and risk-taking
Key historical figures in entrepreneurship

49 Questions12 MinutesCreated by InnovativeThinker321

Viewed entrepreneurship as “self-employment of any sort.”

Equated entrepreneurship with the concept of innovation applied to a business context while emphasizing the combination of resources.

Viewed entrepreneurship as the activity that involves identifying opportunities within the economic system.

Perceived entrepreneurship as involving "activities necessary to create or carry on an enterprise where not all markets are well established or clearly defined and/or in which relevant parts of the production function are not completely known”.

Conceived entrepreneurship as the creation of new organizations.

entrepreneurship is a function which involves the exploitation of opportunities which exist within a market.

He viewed entrepreneurs as change agents

Viewed entrepreneurs as individuals who attempt to predict and act upon change within markets.

Conceived the entrepreneur as the innovator who implements change within markets through the carrying out of new combinations such as introduction of new techniques of production, reorganization of an industry and innovation.

Conceptualized the entrepreneur as: the "agent who buys means of production at certain prices in order to combine them" into a new product.

Stipulated that an entrepreneur is either one who supplies funds and receives interest, or one who received profits from managerial capabilities.

Pointed out that an entrepreneur is an energetic person and a moderate risktaker

Viewed entrepreneur as someone who maximizes opportunities.

Believed that an entrepreneur takes initiative, organizes some social economic mechanisms and accepts risk of failure.

The entrepreneur was defined as one who combines various input factors in an innovative manner to generate value to the customer with the hope that this value will exceed the cost of the input factors, thus generating superior returns that result in the creation of wealth.

Entrepreneur is the person who perceives the market opportunity and then has the motivation, drive and ability to mobilize resources to meet it

An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome

The entrepreneur is anyone who has the capacity and willingness to undertake conception, organization, and management of a productive venture with all attendant risks, while seeking profit as a reward

Viewed an entrepreneur as the person who recognizes and pursues opportunities without regard to the resources he/she is currently controlling, with confidence that he/she can succeed, with the flexibility to change course as necessary, and with the will to rebound from setbacks

Visualized entrepreneur as a person who starts a business to follow a vision, to make money, to be the master of his/her own soul (both financially and spiritually) and is an "educated" risk taker.

Conceived an entrepreneur as a person who is dynamic, continues to seek opportunities and/or different methods of operation and will do whatever it takes to be successful in business.

The concept “entrepreneur” can be best used in the past tense to describe a successful business person.

The concept entrepreneur is derived from the French concept

T “entreprendre” which literally is equivalent to the English concept

Schumpeter (1951) opined that the French economist _____________________ was the first to introduce the concept "entrepreneur" in the early 18th century.

Who first coined the word “entrepreneur” in about 1800

From the historical point of view, Schumpeter (____________) opined that the French economist Richard Cantillon was the first to introduce the concept

Some scholars contended that it was actually another economist, Jean-Baptiste Say, who first coined the word “entrepreneur” in about _______________

It was economists such as __________________ , ____________________ ,and ____________________ who had written extensively on it, albeit referring to it as "business management"

Stressed the significance of entrepreneurship for economic growth

Buttressed Mill’s view by formally recognizing entrepreneurship as an important factor of production in 1890

Alfred Marshall buttressed Mill’s view by formally recognizing entrepreneurship as an important factor of production in __________________

Cantillon (circa _________)

Joseph Schumpeter (___________)

Penrose (___________)

Leibenstein (_________, ____________)

Gartner (___________)

Putari (___________)

Say (___________)

Frank Knight (____________)

Quick MBA (_____________)

Di-Masi (____________)

Wikipedia (_____________)

Business Dictionary (______________)

Reiss (____________)

Pinson (______________)

Andy Murphy (_____________)

Pinson (2010) visualized entrepreneur as a person who starts a business to:

There are situations where due to certain circumstances an entrepreneur is not able to establish his or her own business and as such has to work in an organization. In this case they are referred to as “_____________________” I.e. Entrepreneurs within an organization.

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