SOM 122 EXAM 2 ACCURATE STUDY GUIDE
Entrepreneurship - Answers - the process of taking risks to try to create a new business
Entrepreneur - Answers - a person who sees a new opportunity for a product or service
and who risks time and money to start a business with the goal of making a profit
opportunity entrepreneurs - Answers - an ambitious entrepreneur who starts a business
to pursue an opportunity
necessity entrepreneurs - Answers - An entrepreneur who suddenly must earn a living
and is simply trying to replace lost income
Intrapreneur - Answers - someone who works inside an existing organization who sees
an opportunity for a product or service and mobilizes the organization's resources to try
to realize it
entrepreneurial team - Answers - a group of people with different kinds of expertise who
form a team to create a new product
Micropreneur - Answers - A person who takes the risk of starting and managing a
business that remains small (often home-based)
solopreneur - Answers - business owners who work and operate their business alone
side hustle - Answers - a project or business that an individual works on outside of their
regular employment
freelancer - Answers - an individual who is self-employed, and utilizes their knowledge,
skills, and abilities, to perform a tasks, services, or functions for a customer
mentor - Answers - an experienced person who coaches and guides lesser-experienced
people by helping them understand an industry or organization's culture and structure
Service Corps of Retired Executives (SCORE) - Answers - A Small Business
Association mentoring program consisting of retired executives who volunteer as
consultants to advise small businesspeople
Active Corps of Executives (ACE) - Answers - A Small Business Association mentoring
program composed of executives who are still active in the business world but have
volunteered their time and talents
Entrepreneurship - Answers - the process of taking risks to try to create a new business
Entrepreneur - Answers - a person who sees a new opportunity for a product or service
and who risks time and money to start a business with the goal of making a profit
opportunity entrepreneurs - Answers - an ambitious entrepreneur who starts a business
to pursue an opportunity
necessity entrepreneurs - Answers - An entrepreneur who suddenly must earn a living
and is simply trying to replace lost income
Intrapreneur - Answers - someone who works inside an existing organization who sees
an opportunity for a product or service and mobilizes the organization's resources to try
to realize it
entrepreneurial team - Answers - a group of people with different kinds of expertise who
form a team to create a new product
Micropreneur - Answers - A person who takes the risk of starting and managing a
business that remains small (often home-based)
solopreneur - Answers - business owners who work and operate their business alone
side hustle - Answers - a project or business that an individual works on outside of their
regular employment
freelancer - Answers - an individual who is self-employed, and utilizes their knowledge,
skills, and abilities, to perform a tasks, services, or functions for a customer
mentor - Answers - an experienced person who coaches and guides lesser-experienced
people by helping them understand an industry or organization's culture and structure
Service Corps of Retired Executives (SCORE) - Answers - A Small Business
Association mentoring program consisting of retired executives who volunteer as
consultants to advise small businesspeople
Active Corps of Executives (ACE) - Answers - A Small Business Association mentoring
program composed of executives who are still active in the business world but have
volunteered their time and talents
