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1.5 Entrepreneurs and leaders Quiz 1 Flashcards | StudBud
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1.5 Entrepreneurs and leaders Quiz 1
1.5 Entrepreneurs and leaders Quiz 1
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#Edexcel A Level #Business - 1.5 Entrepreneurs and leaders - Theme 1
Flashcards
13 cards
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Questions
13
Answers
1
There are three main roles to being an Entrepreneur, which is NOT one of them:
Innovation
Creating/setting up a business
Banking
Running/expanding a business
2
What's the benefit to businesses of employing Intrapreneurs?
They are cheap to employ
They can help the business to avoid risk
They can motivate others
They can drive innovation
3
Which of the following is
not
a barrier to entrepreneurship?
Corrupt and unsupportive business environment
Risk aversion
Trade liberalisation
Lack of experience in the market
4
Name one problem an Entrepreneur might face when starting a business
Lack of ideas
Lack of expertise
All of these!
Lack of funding
5
Entrepreneurial characteristics vs motives , which of these is an entrepreneurial motive?
Cost efficiency
Survival
To be your own boss
Social objectives
6
When a business sells the right to use its name and goodwill in return for a series of fees:
Outsourcing
Offshoring
Sale and leaseback
Franchising
7
What's meant by risk aversion?
A risk taker
The enjoyment of risk and uncertainty
The fear and therefore avoidance of risk and uncertainty
A lack of understanding of risk and uncertainty
8
A business which seeks to make a profit but which has primarily social objectives is called....
Sole trader
Social Enterpriase
Public Limited Company
Private Limited Company
9
A business objective based on increasing the sales relative to competitors is called....
Sales maximisation
Market share
Cost efficiency
Customer satisfaction
10
Which of the following is a financial motive for entrepreneurship?
Independence and home working
Dividends
Ethical stance
Social entrepreneurship
11
Which of the following is
not
associated with moving from being an entrepreneur to a leader?
The need for motivation and inspiration
The need for strategy and vision
The need for shared ownership
The need for increased independence
12
A manager who works within a business and promotes innovation and new ideas is an:
Intrapreneur
Entrepreneur
Iterpreneur
Extrapreneur
13
How can an Entrepreneur anticipate risk and uncertainty?
Market research
Read the news
Market segmentation
Differentiated marketing
