ENT101 Exam Questions and Answers |Latest
Update
1. What is entrepreneurship? - ANS entrepreneurship signifies the promotion of innovative high
risk projects that contribute to economic efficiency and growth
1. What is an entrepreneur - ANS A person who organizes, manages, and takes on the risks of a
business.
1. What is the Macro and Micro view in regards to "Schools of Thought" - ANS The Macro view
looks at external influences (non-controllable) like social, cultural, and financial factors. The
Micro view looks at internal influences (controllable) that drives the entrepreneur.
1. What would be an example of the inputs and outcomes of the integrative approach - ANS
Input - person who takes risk
Output - successful venture that creates benefit
1. What is the dynamic states approach dependent on - ANS The contextual environment
2. What is unique about the pacific approach to business - ANS it is relationship based - w each
other, environment, ocean, etc.
2. What is similar about Pacific approach to business compared to European/US styles - ANS
2. How can Pasifika values be appropriate and accessible to everyone - ANS by maintaining and
enhancing relationships
3. What adaptions did Maori have to make with the environment - ANS Changes to lifestyle,
culture, habits, practices. Created relationships with the environment to understand patters
and systems that would enhance kaitiakitanga
, 3. An example of Maori Strategic Frameworks and explain what it is - ANS Hauora (home),
where business entity is based off well-being (social, physical, spiritual and mental)
3. Why should an entrepreneur conduct a risk analysis - ANS This is so that they are able to
evaluate the economic impact of their activities
4. What are the three fundamentals of the entrepreneurial mindset - ANS 1. Social norm about
behavior
2. Personal attitude toward behavior
3. Perceived personal capability for behavior
4. What are three common beginnings to a business - ANS 1. Opportunity arises
2. The venture forms
3. A leader arises
4. Why do entrepreneurs continue? - ANS Actions are tied to foreseeing potential gain, ignoring
traditional weakness, exploiting new alliances, persistence
4. What is social entrepreneurship - ANS when an entrepreneur founds a business with the
purpose of creating social value and solving societal problems
4. What are the existing assets to entrepreneurial capital - ANS Capital, networks and
relationships, existing good will
5. what is success and how can we measure it - ANS success is the achieving of results wanted
or hoped for. It is measured by the entirety of the person (how successful they want to be).
5. How can entrepreneurs reach their goals - ANS Pursuing new ideas and opportunities, staying
focused when facing uncertainty, leading new change and innovation
Update
1. What is entrepreneurship? - ANS entrepreneurship signifies the promotion of innovative high
risk projects that contribute to economic efficiency and growth
1. What is an entrepreneur - ANS A person who organizes, manages, and takes on the risks of a
business.
1. What is the Macro and Micro view in regards to "Schools of Thought" - ANS The Macro view
looks at external influences (non-controllable) like social, cultural, and financial factors. The
Micro view looks at internal influences (controllable) that drives the entrepreneur.
1. What would be an example of the inputs and outcomes of the integrative approach - ANS
Input - person who takes risk
Output - successful venture that creates benefit
1. What is the dynamic states approach dependent on - ANS The contextual environment
2. What is unique about the pacific approach to business - ANS it is relationship based - w each
other, environment, ocean, etc.
2. What is similar about Pacific approach to business compared to European/US styles - ANS
2. How can Pasifika values be appropriate and accessible to everyone - ANS by maintaining and
enhancing relationships
3. What adaptions did Maori have to make with the environment - ANS Changes to lifestyle,
culture, habits, practices. Created relationships with the environment to understand patters
and systems that would enhance kaitiakitanga
, 3. An example of Maori Strategic Frameworks and explain what it is - ANS Hauora (home),
where business entity is based off well-being (social, physical, spiritual and mental)
3. Why should an entrepreneur conduct a risk analysis - ANS This is so that they are able to
evaluate the economic impact of their activities
4. What are the three fundamentals of the entrepreneurial mindset - ANS 1. Social norm about
behavior
2. Personal attitude toward behavior
3. Perceived personal capability for behavior
4. What are three common beginnings to a business - ANS 1. Opportunity arises
2. The venture forms
3. A leader arises
4. Why do entrepreneurs continue? - ANS Actions are tied to foreseeing potential gain, ignoring
traditional weakness, exploiting new alliances, persistence
4. What is social entrepreneurship - ANS when an entrepreneur founds a business with the
purpose of creating social value and solving societal problems
4. What are the existing assets to entrepreneurial capital - ANS Capital, networks and
relationships, existing good will
5. what is success and how can we measure it - ANS success is the achieving of results wanted
or hoped for. It is measured by the entirety of the person (how successful they want to be).
5. How can entrepreneurs reach their goals - ANS Pursuing new ideas and opportunities, staying
focused when facing uncertainty, leading new change and innovation
