All but one of the following is considered a myth about entrepreneurship. Select one: O a. An entrepreneur is exposed to extreme business risks. O b. All entrepreneurs must be willing to invest large sums of money. O c. First ventures are always profitable and successful. O d. A breakthrough invention is required for successful entrepreneurs. O e. Successful business owners/entrepreneurs are born, not made.
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- Which of the following terms refers to people who create businesses under risky conditions? A) investors B) risk managers C) developers D) entrepreneurs E) visionariesFor a startup is it better to have generalists or specialists.justify your answer and discuss both advantage and disadvantage of having generalist and specialistsIS MOuue Will aiscuss the proper and efficient ways of starting a business. You will be introduced to the entrepreneurial process, which starts with identifying and evaluating the opportunity. The heart of this module is the scanning of the marketing environment where you formulate a product or service 'solution applying the techniques of seeking, screening, and seizing opportunities. As a result, you will deal with analyzing the need of the market, think of the potential set of products or services that will meet the need, assess the feasibility of the solution, and select the best product or service that will address the need. PRE-ACTIVITY. Directions: Answer the following. 1. In a scenario where you are creating a product to selI, what are the things that you'need to consider? Why? 2. What are the role of your neighbors, friends, family members and the community if you are going to iput up a business? 3|Page
- It Ways Of starting a business. You will U Die entrepreneurial process, which starts with identifying and evaluating the opportunity. The heart of this module is the scanning of the marketing environment where you formulate a product or service solution applying the techniques of seeking, screening, and seizing opportunities. As a result, you will deal with analyzing the need of the market, think of the potential set of products or services that will meet the need, assess the feasibility of the solution, and select the best product or service De that will address the need. • PRE-ACTIVITY Directions: Answer the following. 1. In a scenario where you are creating a product to sell, what are the things that you need to consider? Why? 2. What are the role of your neighbors, friends, family members and the community if you are going to put up a business? 3 |PageImagine that you want to start your own business. For your business: (a) Decide on and state a new business concept (the type of business that you want to start and what it does). (b) Decide on and state a name and slogan for that business. (c) Consider at least three different types of business entities (e.g., corporation, sole proprietorship, LLP, LLC, general partnership, LP. S-Corporation), and choose one of those three types of entities as the form of business organization for your new business. (d) List the three types of entities that you considered and provide three reasons that the type of entity you chose for your business is better than the other two tvpes of entities (vou may wish to consider some of the following: ease of formation, tax consequences, management rights, duration, liability, and transferability of ownership (e) Develop a brief marketing strategy for your new business, and state your marketing strategy, including short-term and long-term strategies (f) Will…True or False1. Entrepreneurship covers more than just inventions; it also requires innovation 2. Entrepreneurs are academically and socially ineffective 3. Entrepreneurs are doing entrepreneurs; they lean towards action. 4. Only people who have certain natural talents can be Entrepreneurs. 5.Entrepreneurs are extreme risk takers 6. Entrepreneurs seek success but experience high failure rates 7. Ignorance is bliss for Entrepreneurs 8. All Entrepreneurs need is luck 9. Money is what the Entrepreneurial venture need to survive 10. Entrepreneurs must fit the standard Entrepreneurial profile
- For a startup it is better to have generalists or specialists.justify answera. There is a new University built in your area. Write down six (6) opportunities you can take as an Entrepreneur to serve this University community to generate impressive wealth. b. Choose one of those opportunities you have identified in (1a) and write a business plan as an Entrepreneur for financial support from an investorLikert scale (5- strongly agree, 4- agree, 3 - neutral, 2- disagree,1- strongly disagree) questions about: 1. Positive Mental Attitude of an Entrepreneur 2. Creative Mindset of an Entrepreneur 3. Persuasive Communication Ability of an Entrepreneur 4. Intrinsic Motivation and Drive of an Entrepreneur 5. Tenacity and ability to learn from failure training of an Entrepreneur
- Would Kristina Jones’s entrepreneurial/start-upstory be an effective element to include in CourtBuddy’s marketing efforts? Why or why not? Howwould this compare with the marketing efforts bysomeone such as Tata HarperTrue or False 1. Entrepreneurship covers more than just inventions; it also requires innovationDevelop a business idea not exceeding 500 words. If you have an opportunity to start a business, what kind of business will you start? Mention about: (i) The industry and product/service you are interested in. (ii) State why you are interested in that business. (iii) Who will be your customers and competitors? (iv) The initial amount you may require starting your business.