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- List the three categories of entrepreneurs. 2. Once you have decided to go into business for yourself, there are three ways that you can acquire this business. List them. 3. What is the first step for starting a new business? 4. What is the most common use for a business plan? 5. What does the hopeful entrepreneur do once he or she has finished the business plan? 6. What are the two types of financing available to entrepreneurs? 7. List four common causes for business failure. 8. List three advantages that small businesses have over larger, more complex companies.Discuss FIVE (5) personal characteristics of a successful entrepreneur that will either result in success or failure in the process of shutting down their start up as shown in the extract.Almost anyone can develop the qualities necessary to succeed asan entrepreneur. To illustrate, consider this question.Who among the following is the most successful entrepreneur?Choose two persons rom the given scenarios then explain and justify. Give examples and situations to support your answers. 1. A 35 year-old farmer who has owned a two hectare pineappleplantation for 10 years, makes just enough to get by, but loveswhat he is doing, and calls everyone in the barangay a friend.2. A 30 year-old CEO of a software firm who works 70 hours aweek, stays stressed, never sees his family, but makes five millionpesos in revenue per year.3. A 35 year-old single mom who makes money online withinternets, and gets to spend all the time she wants with her kids.4. A 22 year-old college dropout who created a few websites thathe manages a few hours per week and now makes enough totravel the world, spends time with friends and family, and pursueshis favorite hobbies.
- 1. Does someone need to start a business from scratch to be called an entrepreneur? 2. Can we call someone an entrepreneur if they bought an ongoing business from someone else or took over the operations of a family business from their parents? 3. If someone starts a small business and never needs to hire employees, can they be called an entrepreneur?1. Can someone be an entrepreneur without owning their own business? 2. Can a person be an entrepreneur because of the nature of the work that they do within a large corporation?1. Explain the basic principles of Financial Management. 2. Explain why raising capital for a new venture is a challenge for entrepreneurs. 3. Explain why some entrepreneurs resort to social bricolage.
- 1. Entrepreneurship, the concept has a huge meaning. When you hear the word, or when you think of an entrepreneur, what do you think of? 2. What do you think it takes to be a successful entrepreneur? What qualities must a person have (smart, serious, rich, etc.) to be an entrepreneur? What does it take for a person to be a successful business person? 3. If you were given one million dollars to start your own business, what are the steps you would take? What do you think you would need to start? What do you think you would need to continue to be successful? Think about how you would use one million dollars for a business idea and describe what you would do in 4-5 sentences. 4. Successful people often describe their relationships with mentors. If you could pick anyone to be your mentor in business, who would you pick and why? (It can be a celebrity, or a public figure) 5. A great business can find little success if no one knows about the company or product. What are some ways an…Q3) After finishing this course how you can apply entrepreneurial process in a logical way allow to create your own business in a more successful way?1. Describe the four major growth strategies. 2. What are the main exit options from an entrepreneurial business?
- 4.What does the process of writing a business plan force an entrepreneur to do?1. Define entreprenuership. 2. Elobrate 3 essence of entrepreneurial behaviours. 3. Examine 2 separate ways that entrepreneur identify new business, product, and service opportunities.1.What are some reasons for success or failure of entrepreneurs?2.What are the widely used legal structures for entrepreneurs? Explain each one and its implications for paying taxes.3.What method is commonly used to research trends in the market?4.What need in the market does your product or business fill?5.What are the four Ps of Marketing? Explain each one, you can include examples