entrep quiz

budibudibababoo

entrepreneurship

emphasizes creating, organizing, and operating a new business venture to generate profit while taking financial risks

entreprendre

french word for entrepreneur

to undertake

entreprendre mean?

entrepreneurs

people who take risks and challenges of starting a new business

the entrepreneur’s guide to building a successful business

owning a business offers numerous advantages, felxible hours, independent decisions, free from obligation of others, have autonomy as highlighted by jonathan scott (2022)

employment creation
economic development
technological advancement
market dynamics
socio cultural changes

5 importance of entrepreneurship

agripreneurship
buyer entrepreneurship
ecopreneurship
imitator entrepreneurship
intrapreneurship
large business entrepreneurship
scalable startup entrepreneurship
small business entrepreneurship
social entrepreneurship
technopreneurship

10 types of entrep

small medium and micro-sized enterprises

smme meaning

sole proprietorship
partnership
corporation
cooperative

forms of ownership

easily created and terminated
flexibility to changes
ownership and rewards on one person

unlimited personal liability
limitations in capital
it ends when the owner dies or becomes seriously ill

sole proprietorship pros and cons

ability to obtain capital
incentive for each partner
limited regulation and taxation

difficult in reconciling personal or business interests
termination can happen
problems in shared liquidation

pros and cons of partnership

legal entity protected by law
ownership is transferrable
employee benefits

costly and time consuming
separate taxation
owner’s potential loss of control in the business

pros and cons of corporation

open and voluntary
cooperation among members
tax privileges

limited interest in shares
inequality of profit distribution
pro poor bias might deviate from the profit orientation

pros and cons of cooperative

extrinsic
intrinsic

types of motivation

achievement
power
affiliation

types of motive

leadership
articulate
sociable
adaptable
collaborative

give 5 skills/core competencies