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Dr. A. K. M.
Saiful Majid
Course:
Entrepreneurship
Director
Institute of
Business
Submitted by:
Parashar Saha
ZR 81
BBA 21st Batch,
Section B
Institute of
Business
Administration
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Sir,
It is a great honor for me that I am able to present my assignment based on the Entrepreneurship
quiz taken in our first day of class for your consideration as part of our Entrepreneurship
coursework. This assignment is based on the introductory personality of an entrepreneur and who
should be an entrepreneur. In this assignment, proper justifications of the chosen answers are
given.
I did my level best to complete the assignment in a way which can fulfill your expectations.
Sincerely,
Q. 2 The entrepreneur is most like the distance runner who runs mainly:
a) To work off energy and keep in good physical condition. This option is wrong because
the main concern of an entrepreneur is mainly related to her/his business rather than
physical exercise which will keep the person strong and healthy.
b) To gain the satisfaction of beating other competitors in the race. This option is wrong as
well because defeating other competitors is not the source of satisfaction they are looking
for.
c) To try to better his previous time over the distance. This is the best choice because an
entrepreneur initially sets few milestones and tries to achieve them one after another. To
achieve one after another they have to work hard and have to better their previous record.
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c) Control wealth and other people. This is also wrong because controlling wealth and
people is never the motive of an entrepreneur but that of a dictator and thus this never
motivates an entrepreneur.
Q.4 Entrepreneurs believe the success or failure of a new venture depends primarily upon:
a) Luck or fate. This option is incorrect because if an entrepreneur is concerned about luck
and fate then that person will think several times before making a decision and this doesnt
help in any way. Entrepreneurs are risk taker and thus luck or fate hardly has any impact
upon them.
b) The support and approval of others. This option is incorrect because people has always
been skeptical of the ones who wants to start their own venture and thus if entrepreneurs
waited for their approval then today there would hardly been any venture.
c) Their own strengths and abilities. This is the best choice because to be an entrepreneur
one has to have sufficient self confidence and self efficacy without which they cant even
take their first steps. It is a must for entrepreneurs that should believe in themselves
otherwise failure in inevitable.
Q.5 If given the chance to earn a substantial reward, which of the following would
entrepreneurs be most likely to do:
a) Roll dice with one in three chance for winning. This is the wrong choice because in the
rolling of a dice there is hardly any control of the entrepreneur on the result as it is based
entirely on luck upon which the entrepreneurs hardly rely.
b) Work on a problem with a one in three chance of solving it in the time given. This is the
optimal solution because in this case the entrepreneur relies on the strengths and abilities of
herself/himself rather relying on fate.
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c) Do neither (a) or (b) because the chances of success are too small. This is incorrect cause
by nature an entrepreneur has to have the sufficient amount of self confidence to complete
a task and moreover they are also risk takers.
previously they are not greedy. They started an initiative to have something of their own
and feel good about it rather than making huge amount of profits.
Q.8 Which of the following do entrepreneurs value most highly in their jobs:
a) The importance placed on competence and efficiency. This is not the best choice even
though these are some important criterion to ensure success of the venture but still it is not
the one which entrepreneurs value the most.
b) The freedom to control how they use their time. This is also incorrect because even
though the freedom with which they work is an important factor still this is to a certain
extent quite unimportant as they prefer working 24X7 in times of need.
c) The opportunity to create and do new things. This is the best choice because this is the
major reason why profit is important to entrepreneurs. They like new ideas and most
importantly they love to implement them. Therefore it is of highest value to an
entrepreneur.
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