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Rutiri-Entre Chap 1

Entrepreneurship Chapter 1, Section 1.1 & 1.2

QuestionAnswer
Someone who creates and runs a business is called an what? Entrepreneur
When an entrepreneur starts a new business, ________ is involved. ________ is the chance of losing something. Risk
Because employees work for someone else and entrepreneurs work for themselves, entrepreneurs risk more than _____________. employees
Small firms employ about half of the U.S. private work force, and they create around what percent of all new jobs? 64%
One way you can gain a sense of what business is like is by investigating an internship, or __________________? apprenticeship
The biggest reward of becoming an entrepreneur is the personal satisfaction that comes from having the __________ to make your own business decisions and then act on them. freedom
There's a limit to what an entrepreneur can make. False!
Being an entrepreneur lets you make your _____________ and world a better place community
Being fully responsible means the success or failure of your business rests on you. Potential Business Failure
There is ____________ _____________ in starting a business. Many new businesses don’t make much money in the beginning, so you may not always be able to pay yourself. Financial Insecurity
There are short hours and little work. It’s usual for entrepreneurs to work very little hours to make their businesses successful. This is especially true during the initial start-up process. FALSE!
Who created and passed on many valuable inventions, but is most famous today for improving the light bulb, as well as introducing a viable system of centrally generating and distributing electric light, heat and power? Thomas Edison
Who was the founder of Ringling Bros. and Barnum & Bailey Circus? PT Barnum
Who were the co-founders of the all American Harley-Davidson motorcycle? Harley and Davidson
Who was the first female bank president of any race to charter a bank in the United States? Maggie Lena Walker
Who founded the furniture store we know today as IKEA? Ingvar Kamprad:
Who are the founders of the Apple Computer, the same company that creates iPhones today. Jobs is also the CEO of Pixar animations? Stephen Wozniak and Steve Jobs
Who is a successful producer, founder of three clothing lines and a music production company? He continues to expand many businesses today. Russell Simmons
Who is the founder of Hard Candy Cosmetics, a successful cosmetic line used by various celebrities? Dineh Mohajer
Who is the Chairman and CEO of Amazon.com, an online merchant of books and later products? Jeff Bezos
What evaluates your strengths and weaknesses? Self-Assessment
Using math to create budgets, keep accurate records, and analyze financial statements is not important to an entrepreneur. FALSE!
When businesses give employees the opportunity to be creative and try out new ideas. It is called what? Intrapreneurship
What is not a risk for an entrepreneur? Financial Stability
How many business owners have home-based businesses? 50 percent
A natural ability to do a particular type of work or activity well is called? An aptitude
When a business encourages employees to be creative within the company, the practice is called what? Intrapreneurship
What is a dot-com company? A company that runs most or all of its business from the internet.
What is the biggest reward of becoming an entrepreneur? Empowerment
A common standard that defines a non-manufacturing business as small is having fewer than 50 employees
The amount of money you make as an entrepreneur may go up or down, depending on the business. TRUE!
An entrepreneur will work more than an employee, particularly during start-up. TRUE!
What percentage of business owners use their own money to start the business? more than 60 percent but less than 75 percent
A person who volunteers to provide free guidance is called a what? Mentor
Created by: eva_rutiri
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