MGT602 Quiz 1 Solution and Discussion

[zareen]

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[cyberian]

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[zaasmi]

Which of the following is the ability to use the imagination to develop new things?

Planning
**Creativity**
Invention
Reliability

The entrepreneur must possess the abilities of:

Creativity
Leadership
Understanding environment
**All of the given options**

Due to entrepreneurial activity, value in the business becomes:

Less
**Greater**
Constant
None of the given option

Entrepreneurship is the process of:

Destructive creation
Creative destruction
Destructive innovation
**Creative imitation**

An entrepreneur in fact offers ________ to its customers through a business offering:

Resources
**Value**
Materials
Services

A small venture that supports the owners and usually does not grow is termed as:

Foundation company
Gazelle
**Lifestyle firm**
Base firm

Which of the following is the fruitful source for identifying business opportunities?

Business associates
Technical people
Consumers
**All of the given options**

Which of the following type of company is also call “Gazelles”?

Life Style Firm
Foundation Companies
**High-Potential Venture**
None of the given option

Which of the following is an individual who creates something for the first time?

Entrepreneur
**Inventor**
Manager
Executive