Role of an Entrepreneur (Edexcel A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is an entrepreneur?
What is an entrepreneur?
Someone who starts & runs their own business
What are the four key roles of entrepreneurs?
What are the four key roles of entrepreneurs?
Innovators, organisers, decision-makers, risk-takers
As innovators, how do entrepreneurs identify business opportunities?
As innovators, how do entrepreneurs identify business opportunities?
By spotting gaps in the market
Which is a reward of entrepreneurship?
Which is a reward of entrepreneurship?
Independence from working for someone else
What is opportunity cost?
What is opportunity cost?
Benefits lost from the next best alternative
Which source of business ideas is the lowest-risk approach?
Which source of business ideas is the lowest-risk approach?
Business experience from an existing job
What happens at the 'launch' stage of setting up a business?
What happens at the 'launch' stage of setting up a business?
The business first starts trading
Which is a key functional activity when running a business?
Which is a key functional activity when running a business?
Financial management
What is the key difference between intrapreneurs and entrepreneurs?
What is the key difference between intrapreneurs and entrepreneurs?
Intrapreneurs carry no financial risk
How does intrapreneurship satisfy employee needs?
How does intrapreneurship satisfy employee needs?
By meeting self-actualisation needs