BDI3C Entreprenurship Quiz #1

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1. (K) Was Terry for was an enterprising person?

True

False

Terry Fox displayed all the characteristics of an entrepreneur but was really an enterprising person. He did not run his marathon for personal profi but rather for the common good.

Explanation

Terry Fox displayed all the characteristics of an entrepreneur but was really an enterprising person. He did not run his marathon for personal profi but rather for the common good.

About This Quiz

BDI3C Entrepreneurship Quiz #1 assesses key concepts in entrepreneurship, including trade agreements like NAFTA, economic indicators like GNP, and the nature of entrepreneurship within organizations. It evaluates understanding of for-profit and not-for-profit ventures and the entrepreneurial spirit exemplified by figures like Terry Fox.

2. What first name or nickname would you like us to use?

You may optionally provide this to label your report, leaderboard, or certificate.

2. (K) Entrepreneurship that occurs within an organization is known as:

Intrapreneurship

Enterprising person

Demographics

Motivation

Intrapreneurship refers to the entrepreneurial activities that take place within an existing organization. It involves employees who exhibit an entrepreneurial mindset and take initiative to innovate, create new products or services, and drive change within the company. Intrapreneurship encourages employees to think and act like entrepreneurs, taking risks and seizing opportunities to generate value and drive growth for the organization. This term is used to distinguish entrepreneurship within an organization from entrepreneurship in the traditional sense, which involves starting a new business or venture.

Explanation

3. (K) An _______________ employee is someone who may not be willing or able to take personal financial risks and views job security as important and change jobs frequently to improve career growth.

An enterprising employee is someone who is willing to take risks and is motivated by career growth. This type of employee is not concerned about job security and is more likely to stay with one company for a longer period of time. They are proactive, innovative, and constantly seeking new opportunities for advancement.

Explanation

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4. (K) When setting Goals, you should always follow the SMART principle. SMART stands for:

Simple, Measurable, Achievable, Realistic, Timely

Simple, Meaningful, Accessible, Reliable, Topical

Simple, Made-to-order, Agile, Random, Tenacious

Staged, Meaningful, Abridged, Realistic, Timely

Simple, Manageable, Asymmetrical, Reliable, Timely

The correct answer is Simple, Measurable, Achievable, Realistic, Timely

Explanation

The correct answer is Simple, Measurable, Achievable, Realistic, Timely

5. (K) Most Ventures fit into one or more of the following the following categories. Check all that apply.

For-Profit/Not-for-Profit

Sole Proprietorship

Large Scale/Small Scale

Physical/Virtual

Corporation

Service Production/Goods Production

The correct answer is For-Profit/Not-for-Profit, Large Scale/Small Scale, Physical/Virtual, Service Production/Goods Production. This is because most ventures can be categorized as either for-profit or not-for-profit, depending on their primary goal of making money or serving a social cause. Ventures can also be classified based on their scale, whether they are large-scale operations or small-scale businesses. Additionally, ventures can be categorized based on their physical presence or virtual nature, depending on whether they have a physical location or operate solely online. Finally, ventures can be classified based on the type of production they engage in, whether they produce goods or provide services.

Explanation

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6. (K) Match the terms or concepts to the appropriate definitions:

demographics

networking

supply

mass production

incubators

rightsize

bricks and mortar

internal movtivator

external motivator

genius is 1% inspiration

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7. (K) According to the definition, an agent of change is someone who intentionally or unintentionally causes.... (Check all that apply)

Social change

Cultural change

Behavioral change

Physical change

Technological change

All of the above

An agent of change is someone who intentionally or unintentionally causes social, cultural, and behavioral change. This means that they have the power to influence and bring about shifts in society, culture, and individual behavior. It does not include physical or technological change, as these refer to changes in the physical environment or advancements in technology rather than changes in social or cultural aspects. Therefore, the correct answer is social change, cultural change, and behavioral change.

Explanation

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8.

(K) What do the following acronyms stand for?

a) NAFTA: _ Hint: an agreement that outlines which goods and services can travel easily between countries and which ones will have a tariff or tax included b) GNP: ___ Hint: The total of all the goods and services produced in Canada in one year

NAFTA stands for North American Free Trade Agreement, which is an agreement that outlines which goods and services can travel easily between countries and which ones will have a tariff or tax included. GNP stands for Gross National Product, which is the total of all the goods and services produced in Canada in one year.

Explanation

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