Answer Chapter 1 Entrepreneurship the d
For lazy student like me (Mey pheap)
Chapter 1:
Discussion Questions
1. What forces have led to the boom in entrepreneurship in the
United States?
Answer
- Corporate downsizing flooding the market with corporate cast-offs, an attitude that small is beautiful, international economic development due to the fall of communism and the capitalization of former state-owned industries, a dream of freedom and independence, perseverance in achieving results, and the opportunities presented by an ever-changing environment.
2. What is an entrepreneur? Give a brief description of the entrepreneurial profile.
Answer
- One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them?
Profile –
a) desire for responsibility,
b) preference for moderate risk,
c) confidence in personal success,
d) desire for immediate feedback,
e) high level of energy,
f) possess a future orientation,
g) skill in organization,
h) money is a great way to keep score but it is not as important as achievement.
3. INC Magazine claims, Entrepreneurship is more mundane than it’s sometimes portrayed . . . you don’t need to be a person of mythical proportions to be very, very successful in building a company. Do you agree? Explain.
Answer – own answer
4. Will vary according to the student.4.What are the major benefits of business ownership?
Answer a) opportunity to gain control over your destiny,
b) opportunity to make a difference,
c) opportunity to reach your full potential,
d) opportunity to reap unlimited profits,
e) opportunity to make a contribution to society and receive recognition for your efforts.
For lazy student like me (Mey pheap)
5. Which of the potential drawbacks to business ownership are most critical?
Answer
- Student's responses will vary but should cover the following drawbacks:
a) uncertainty of income,
b) risk of losing invested capital,
c) long
Chapter 1:
Discussion Questions
1. What forces have led to the boom in entrepreneurship in the
United States?
Answer
- Corporate downsizing flooding the market with corporate cast-offs, an attitude that small is beautiful, international economic development due to the fall of communism and the capitalization of former state-owned industries, a dream of freedom and independence, perseverance in achieving results, and the opportunities presented by an ever-changing environment.
2. What is an entrepreneur? Give a brief description of the entrepreneurial profile.
Answer
- One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them?
Profile –
a) desire for responsibility,
b) preference for moderate risk,
c) confidence in personal success,
d) desire for immediate feedback,
e) high level of energy,
f) possess a future orientation,
g) skill in organization,
h) money is a great way to keep score but it is not as important as achievement.
3. INC Magazine claims, Entrepreneurship is more mundane than it’s sometimes portrayed . . . you don’t need to be a person of mythical proportions to be very, very successful in building a company. Do you agree? Explain.
Answer – own answer
4. Will vary according to the student.4.What are the major benefits of business ownership?
Answer a) opportunity to gain control over your destiny,
b) opportunity to make a difference,
c) opportunity to reach your full potential,
d) opportunity to reap unlimited profits,
e) opportunity to make a contribution to society and receive recognition for your efforts.
For lazy student like me (Mey pheap)
5. Which of the potential drawbacks to business ownership are most critical?
Answer
- Student's responses will vary but should cover the following drawbacks:
a) uncertainty of income,
b) risk of losing invested capital,
c) long