Explain the concept of entrepreneurship with the help of a diagram

Question 1.  Explain the
concept of entrepreneurship with the help of a diagram.

The Concept of Entrepreneurship

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An entrepreneur is an individual person or a group of persons who take initiative, have the skill for
innovation and bear risk, put up a new viable project that creates wealth and
provides employment opportunity, and leads to growth of all sectors of an
economy. He/she performs various activities by adopting a process of action
called entrepreneurship and carries out creative innovation for fulfilling his
objectives. Hence, the process/steps of entrepreneurship are creative,
innovative, and objective-oriented. The entrepreneur is one who provides a factor of
production responsible for setting up a business/enterprise. As the fourth
factor, he organizes, manages, utilizes, and controls all factors of production
(resources) like land, labor, capital, raw-materials machinery, energy, and
space. Enterprise is an organization of structure, rules policies, culture, and
communication system.

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Question 2. How an enterprise gives benefit society, the country, and an entrepreneur?

Question 3:  Explain and discuss the “dark side” of entrepreneurship.

Question 4:  Name the sources of entrepreneurial stress and discuss the ways of dealing with stress.

Question 5: Define ethics and discuss some conflicts over the ethical nature of decisions.

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Question 6: How does an entrepreneur stimulate the economy?

Question 7: Procedure or steps for starting up a small-scale business?

Q. 8: What are the Techniques for generating an idea?

Q. 9:   Define business plan. Explain the steps/ procedure/ guidelines for writing a business plan?

Q. 10: Define a business plan and reasons for writing a business plan?

Q. 11: Write the types of the business plans?

Question 12: What are the common Myths (misconceptions) about Entrepreneurs?

Question 13:  Describe the common Pathways that an entrepreneur chooses for purchasing a business venture?

Q. 14 what are the basic steps for Acquiring an established entrepreneurial venture?

Q. 15:  What are the Sources of Innovation?

Question 16:  Discuss the approaches to Entrepreneurship.

Question 17: What is Environmental Scanning?

 Question 18: Explain three major reasons why new ventures fail.

Question 19: List and describe three pitfalls in selecting a new venture.

Question 20: What are three critical factors in a new venture assessment?

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Question 21: What are the five specific feasibility phases that a new venture will go through?

Question 22: What sorts of legal issues can be overlooked when assessing an entrepreneurial opportunity?

Question 23: What is a business opportunity?

Question 24: Describe the elements of a business opportunity.

Question 25: Briefly explain the new-old approach to creating new ventures.

Question 26: What is the role of business brokers in acquiring an established entrepreneurial venture?

Question 27: Why did the Federal Trade Commission enact the Franchise Rule?

Question 28: What do you know about Business Plan?

Question 29: Who should write the plan?

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Question 30: Discuss the Importance of the business plan.

Question 31: Define Marketing Strategy. What does the Marketing strategy of a company include?

Question 32: Define Marketing Mix. What are the components of the Marketing Mix? 

Question 33: Define Entrepreneurial strategy. Describe the entrepreneurial strategy process. What are the four major elements of the process and what does each entail?