FSE2202 BUSINESS MANAGEMENT CHAPTER 6 STUDY GUIDE EXAM
QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
Define entrepreneurship
Accepting risk of starting and running a business
What are 4 reasons to take the entrepreneurship challenge?
•Opportunity
•Profit
•Independence
•Challenge
What are 5 traits you need to be an entrepreneur?
•Self-directed
•Self-nurturing
•Action-oriented
•Highly energetic
•Tolerant of uncertainty
What is an entrepreneurial team?
A group of experiences people from different areas of business who join together to
form a managerial team with the skills needed to develop, make, and market a new
product
What is a micropreneur?
, Entrepreneurs willing to accept the risk of starting and managing the type of business
that remains small, lets them do the kind of work they want to do, and offers them a
balances lifestyle
What are some reasons for the growth of micropreneurships?
•Computer technology
•Corporate downsizing
•Social attitudes
•New tax laws
What are some challenges of microprenurships?
•Getting new customers
•Managing time
•Keeping work and family tasks separate
•Abiding by city ordinances
•Managing risk
Define affiliate marketing
An internet-based marketing strategy in which a business rewards individuals or other
businesses for each visitor or customer the affiliate sends to its website
Define intrapreneur
Creative people who work as entrepreneurs within corporations
Define enterprise zone; What are some other names for this?
Specific geographic areas to which governments attract private business investment by
offering lower taxes and other government support (Empowerment zones; enterprise
communities)
QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED
Define entrepreneurship
Accepting risk of starting and running a business
What are 4 reasons to take the entrepreneurship challenge?
•Opportunity
•Profit
•Independence
•Challenge
What are 5 traits you need to be an entrepreneur?
•Self-directed
•Self-nurturing
•Action-oriented
•Highly energetic
•Tolerant of uncertainty
What is an entrepreneurial team?
A group of experiences people from different areas of business who join together to
form a managerial team with the skills needed to develop, make, and market a new
product
What is a micropreneur?
, Entrepreneurs willing to accept the risk of starting and managing the type of business
that remains small, lets them do the kind of work they want to do, and offers them a
balances lifestyle
What are some reasons for the growth of micropreneurships?
•Computer technology
•Corporate downsizing
•Social attitudes
•New tax laws
What are some challenges of microprenurships?
•Getting new customers
•Managing time
•Keeping work and family tasks separate
•Abiding by city ordinances
•Managing risk
Define affiliate marketing
An internet-based marketing strategy in which a business rewards individuals or other
businesses for each visitor or customer the affiliate sends to its website
Define intrapreneur
Creative people who work as entrepreneurs within corporations
Define enterprise zone; What are some other names for this?
Specific geographic areas to which governments attract private business investment by
offering lower taxes and other government support (Empowerment zones; enterprise
communities)
