Midterm quiz( handwritten deadline March 27, 2022

1. What are the difference between businessman and entrepreneur?

An entrepreneur is a person who has a unique concept for starting and running a new business
and making a difference in the world. An entrepreneur is a person who is very creative and
innovative, and who is willing to take risks and deal with the unpredictability of business. The
term "start-up" refers to a business that is launched for the first time by entrepreneurs with a
novel concept. The entrepreneur is an essential aspect of the operation, as he or she constructs
and deploys the other operations' functions, such as labor, land, and capital. The entrepreneur
evolves into a businessman in the future.
A businessman is someone who runs or establishes a company using the same old business
concept. The businessman choose, whether to pursue business that is in high demand or that
will provide him with the most profit. Because many companies with the identical business ideas
already exist on the market, the firm confronts intense competition. However, the risk factor is
low because the concept has already been tried and tested by other companies, thus there is
little likelihood of failure.

Justify your answer

2. Why Corporate Entrepreneurship sometimes referred as

intrapreneurship or corporate venturing?

Corporate entrepreneurship, or sometimes referred as intrapreneurship, is the practice of encouraging

employees to think and act like entrepreneurs while working within the limits of an existing corporate
structure. Employees with the necessary vision and talents are encouraged to spot opportunities and
develop ideas that lead to new products, services, and even business lines.

3. What makes an entrepreneur resource leverage and manager as a

motivator?

Entrepreneurs becomes resource leverage by Problem-solve the problem, not the symptom

They sabotage their energy reserves (and waste a lot of time and money) by trying to fix the business
one incident at a time. Spend your energy (and time and money) identifying the root of the problem,
and creating a definitive solution, rather than going for reactionary quick fixes that provide only
superficial and temporary solutions.

Managers have the greatest influence on an employee’s motivation. Even though someone’s
manager can’t substantially affect the company’s structure, culture and reward systems, the
manager can link performance to recognition, bonuses and good work assignments. It is your
manager who most directly promotes and implements any of the organization’s policies and
procedures. The best managers are able meet each subordinate’s most important needs.
Midterm exam(justify all your answers)

1. What makes Technology a Game Changer with regards to

Entrepreneurs?

2. What do you think are the responsibilities of business owner?

Everything! Owning a business that employs 24 people means they

have the responsibility for 24 families that depend on.

3. What are the functions of Information System in a Business?

4. What are the significance of decision making for entrepreneurs?