ENT 211 Past Questions and Answers

Title: ENT 211 Past Questions and Answers
URL: https://studentsdash.com/ent-211-past-questions-and-answers/
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ENT 211 – Entrepreneurship and Innovation Questions and Answers
Entrepreneurial Behavior and Characteristics
Q:
A growing body of work shows that entrepreneurial behavior is dependent on _______ and _________ factors.
A:
Social and economic.
Q:
Entrepreneurs are _________ for economic change.
A:
Catalysts.
Q:
It is widely maintained that entrepreneurs are ________ individuals.
A:
Unusual.
Q:
The specific characteristics of an entrepreneur can be broken down into ________, ________, and ________.
A:
Psychological, sociological, and economic.
Q:
Collins and Moore studied 150 entrepreneurs and concluded that they are _____ and _____ people.
A:
Tough and pragmatic.
Entrepreneurial Knowledge and Skills
Q:
In the contemporary world, entrepreneurial skills can be acquired through ____________.
A:
Systematic knowledge and practice.
Q:
In Chapter 1, _______ studies of some successful entrepreneurs were carried out to serve as motivational personalities to younger generations.
A:
Case studies.
Q:
Entrepreneurs always have a strong belief about a market opportunity and are willing to accept a high level of _____, _____, or ________ risk to pursue it.
A:
Financial, personal, or social risk.
Q:
Entrepreneurial spirit is characterized by ____ and _____.
A:
Innovation and risk-taking.
Q:
Entrepreneurship ranges in scale from ____ to _____.
A:
Solo projects to major undertakings.
Types of Entrepreneurs and Entrepreneurship
Q:
Cole found that there are four types of entrepreneurs, namely:
A:
The innovator, the calculating inventor, the over-optimistic promoter, and the organizational builder.
Q:
The term intrapreneurship is derived from __ and __.
A:
“Intra” (internal) and entrepreneurship.
Q:
The major difference between an intrapreneur and an entrepreneur is that the fruit of success benefits the ______ rather than the _______.
A:
Organization… Intrapreneur.
Q:
Behavioral characteristics of intrapreneurship include ____, ______, ______, and _______.
A:
Initiative, ability to think outside the box, risk-taking, and leadership.
Q:
In Nigeria, the private sector encourages _______ as a strategy for the growth of their various organizations.
A:
Intrapreneurship.
Historical Perspectives on Entrepreneurship
Q:
Notable early economists wrote enthusiastically about entrepreneurs as ________ of progressive economies.
A:
Change agents.
Q:
______ combined the theories of Cantillon and Adam Smith.
A:
Jean-Baptiste Say.
Q:
______ invented the mechanical reaper in 1831.
A:
Cyrus McCormick.
Q:
The 19th-century entrepreneurs were the ________.
A:
Captains of industries.
Q:
As a ______, the entrepreneur plays a very strategic role in the economy.
A:
Prime mover of change.
Q:
Africa is said to have ____ million SMEs.
A:
65.
Entrepreneurial Culture
Q:
The roots of ___, ___, and ____ encountered more resistance in the African psyche.
A:
Capitalism, utility, and individualism.
Q:
Cultural issues lie entirely in the distinction made by each culture between _________ and ___________.
A:
Cardinal values of civilization and instrumental values.
Q:
________ is the foundation of a dynamic economy.
A:
A strong entrepreneurial culture.
Q:
A culture of entrepreneurship is particularly strong in _____________ markets.
A:
Rapid-growth.
Q:
________ is one of the most precious things a company has, said ________.
A:
Culture… Herb Kelleher, founder of Southwest Airlines.
Q:
_____ serves to socialize the employee.
A:
Culture.
Q:
An entrepreneurial culture is not optional; it is an ___________.
A:
Absolute necessity.
Q:
According to Prosek, the key to unleashing creative energy is to create an entrepreneurial culture based on four pillars:
A:
1. Authenticity
2. Commitment to people
3. Commitment to business
4. Continuous effort
Q:
Sustaining entrepreneurial culture starts with _____ and also __________.
A:
Who you hire… Reward system.
Q:
Creating ____________ leads to the creation of a business that will continue to grow by adapting to change and actively pursuing new opportunities in the market.
A:
An entrepreneurial culture.
Notable Entrepreneurs and Their Contributions
Q:
Naveen Jain is an ________, _________, and _________.
A:
Entrepreneur, philanthropist, and technology pioneer.
Q:
______ identified 10 secrets of becoming a successful entrepreneur.
A:
Naveen Jain.
Q:
Naveen Jain is the founder of:
A:
World Innovation Institute
Moon Express
Inome and InfoSpace
Q:
Success does not necessarily come from breakthrough innovation but from _______________.
A:
Flawless execution.
Q:
He believes that a business plan is too long if it’s ________.
A:
More than one page.
Q:
Behind every overnight success lies ______________.
A:
Years of hard work and sweat.
Q:
Most companies die of ______________ rather than __________.
A:
Indigestion… Starvation.
Q:
He also said in most cases, your ___ and ___ are still your best guide.
A:
Heart and gut.
Aliko Dangote and Entrepreneurship in Africa
Q:
Dangote is ranked by ______________ as the _____ richest person in the world.
A:
Forbes… 43rd.
Q:
Alhaji Aliko Dangote was born on _________________.
A:
10th of April, 1957.
Q:
Dangote is the ________ of Nigeria’s business circle.
A:
Golden child.
Q:
Dangote Cement accounts for a quarter of the _______________ total market cap.
A:
Nigerian Stock Exchange.
Q:
In the journey of entrepreneurship, _________ is supreme.
A:
Resilience and vision.
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