An entrepreneurial alliance between an innovator who has created at least one successful store and wants to grow and a partner who manages Show franchising. A(n) _____ differs from an entrepreneurial venture in that it is not managed aggressively, and its owners expect normal, moderate levels of intrapreneurial team When an enterprising individual pursues a lucrative opportunity, it is known as: entrepreneurship. Which of the following is a formal planning step that focuses on an entire venture and describes all the elements involved in starting it? An organizational assessment One of the five key factors that entrepreneurs are required to have thought through is _____. place Legitimacy increases the probability of success of a new business by: - helping to revise rules and expectations of society. helping a firm acquire resources such as top managers and good employees. The primary objective of an entrepreneurial venture is to: increase the social capital. acquire growth and high profitability. Which of the following models brings buyers and sellers together and charges a commission for each sale? The intermediary model Which of the following provides a way to raise capital through federally registered and underwritten sales of shares in the company? Commodity sale Intrapreneurs are otherwise known as: knowledge workers. Which of the following is true of the role of the economic environment in the success of entrepreneurial ventures? - The economic environment affects the success of entrepreneurial ventures by affecting the supply of capital and prospective opportunities. The economic environment affects the success of entrepreneurial ventures by affecting the supply of capital and prospective opportunities. A competitive advantage in the form of relationships an entrepreneur has with other people and the image other people have of the legitimacy. Which of the following refers to project teams designated to produce a new product? Bootleggers A(n) _____ is a formal planning step that focuses on an entire venture and describes all the elements involved in starting it. operational plan Which of the following is the fundamental reason for creating an opportunity analysis? - To excite potential customers To analyze whether or not to proceed Which of the following is a key difference between an entrepreneur and an intrapreneur? - An entrepreneur receives no corporate support, whereas an intrapreneur has the benefit of corporate support. An entrepreneur receives no corporate support, whereas an intrapreneur has the benefit of corporate support. Which of the following refers to the tendency of an organization to engage in activities designed to identify and capitalize successfully on Bootlegging Entrepreneurial orientation Which of the following entrepreneurial businesses is an example of high innovation and high risk? A new restaurant The role of a business incubator is to: - provide a protected environment for new, small businesses. provide a protected
environment for new, small businesses. Which of the following key planning elements should provide a competitive advantage that can be defended? Competition What role does entrepreneurship play in the economy?Entrepreneurs create employment opportunities not only for themselves but for others as well. Entrepreneurial activities may influence a country's economic performance by bringing new products, methods, and production processes to the market and by boosting productivity and competition more broadly.
How does entrepreneurship play an influential role in the economic growth and the standard of living of a society?So, there is a very important role for entrepreneurs to spark economic development by starting new businesses, creating jobs, and contributing to improvement in various key goals such as GDP, exports, standard of living, skills development and community development.
What role entrepreneurs play in the sustainable growth of an economy?Entrepreneurship is a vital driver of economic growth. It creates new jobs while providing goods and services which help to meet the needs of consumers. When entrepreneurs succeed, they pass on their success to others through profits, which helps other people become more prosperous than they otherwise would have been.
What are the 3 importance of entrepreneurship to the economy?Entrepreneurship Drives Innovation
Growth in productivity raises the material well-being for a society, improves standards of living, and is the primary source of long-term economic prosperity.
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What role does the economic environment play in the success of entrepreneurial ventures?
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