8) 3) 10) 11) TREPRENEURSHD rhe term entrepreneurship has been known to hve been used during . year, ILis believed that entrepreneurship is root. n the micro- economics thinktug of .......... ee particularly inthe work of. sereneee BIVD secee couse constrictintie [949s . introduced the word “ertreprencu ship” into onomic literature and in the year ..... The three types ofagents inthe economy acew ding © Richard Cantonare ......... jetetieetSbeaeeraesr cand. eee Au entrepreneur as an instrument of hang = means According to ........., economic equilibrium which eptimizes what already exists does not create healtir In the 1980s, ...... saw the emergence of sn entrepreneurial economy inthe USA asa “most significant hopeful es cat’. .... .. defined an entrepreneur as one wo alway scarches for change, respon..s to itand exploits itas.an epportan.\s Like Schumpet.. .. made innovation a nes sary partofentreprencurship, - vas «ssoviated with the progess by which tiv aness anizations come into being. PCOnOMY. Cotes cree MAY INVOlVE Innovatio. SuClL as creating anew product, modification of exmstim one an order to sen ec anced, adoption ofa new technolows ore oo Nine anew het for an existe product are deritiecal atiributeafenticpren ously The push amd restlessness that often aecompany the aie ot ‘Scanned with CamScanner Socialpromisethe IndictOrs OF ......... cc cece escent ecb erererereee 15) The word “entrepreneurship” is derived from a 17" centuryFrench Word ........c2cecceeeeee seer ee eeeenceees 16) Theattributes of entreprencurshipare .............6..45 . 17) SME means ..............cccccecsacee esse sere eeeereseeeteeeeesenees ? 18) SSIC means .............cc cece ceee cece eee c eee ec cence eeeeneeeeeeneres ? 19) NBCI means ......... 0c. cccce ee eee ere reece teens eteenesenerneneens 9 20) CMD means .........ccccccceceeeeeeeeeeeeeceeeeeeeeeeeeseereretnen ? 21) NERFUND means ............. 0c cece cee ceceneceeeeeneetannussesen ed 22) CAMA means............:.cce cece ceeecenceceeeeeeeeneeeeaeteterens ? 23) EECmeams..................000cccceccece cece ecececscesteseceeeeres ? 4) According to EEC, micro-enterprises are firms with ......... T employees, small enterprise are firms with ......... employees __and medium enterprises are firms with ........... employees, 25) NCI means... eect eeeeeeeea teen enone ?7 AIT? . . _ ANSWER Socialpromise 285 yeats ago . vo Mid Lo" century Richard Cantilon and Adam Smith Joseph Sehumpete and Carl Merger Kichard Cantiloa 734 [and owner, entrepreneur (farmers and merchants) and hireling (who rented out their services) Someone Who does not seek to perfect or optimize existing things but instead, searches for new methods and new markets Joserh Sainte ways or doi ¢. Different ways of doing things gs) Peter Drucker 9) Peter Drucker 10) * Peter Drucker 1) Entrepreneurship 12) Entrepreneurship 13) Sclfconfidence, self-reliance and optimism 14) Sell-asserting spirit 15) Entrepredre 36) Innevation, venturing aotivation, urge for customer satisfaction, dynamisia, newness, organizing. creating wealth. ability to bear risks and uncertainty - 17) Small and Medium Seale Enterprises 7 18) Small Seale Industrial Credit Scheme , 19) The Nigerian Bank for Commerce and Industries 20) The Center for Management Development 21) The National Fcononnie Reconstruction Fund 22) Companies and Allied MattersAct 23) European Eeonomie Community 24) 0-9, 10-99, 100-499 ‘ 25) National Council of Iidustry T answers ‘Scanned with CamScanner1) 3) 4) 5) §) 7) 8) 9) 10) 11) 12) 13) 14) 15) 16) 17) 18) 19) 20) 21) Socialoromise PLANNING AND ORGANIZIT endid ase nasiedaeteney ve Ts an enterprise that Provides roxducts Of Services that customers desire According to Corporate Affairs Commission, more thay never el pensategtievenseain ce -- business is created in Nigeria every Once entreprencurs create a business idea, they can fully assess the potential profitability ofthat idea by developing ned cesea fete teers te terete eee fOCUSES ON the Proposed organizational structure and production of the firm, ain calidet identifies the roles of the employees employed by the firm, The location decision can have a major effect on the firm's performance because it influences both ..... wean oo. Forecast of the sales volume and product price could be used tg predict ‘The estimated revenue and expenses canbe used to forecast a a os en oiiicnmwndivw casiaas Tepresents the possibility that 2 firm's performance will be lower than expected because of its exposure to specific conditions. Entrepreneurs who take the responsibility of organizing and :t business with the hope of making profits is called... Rusk, according to... sso... Tefers to the possibility of loss. Business risk can be categorized into two which are |, Snadaas are gambles in which there is a possible gainas well as loss, Going into 4 business ts a good example because the quality of new product or the quality of management may lead to... or So: naeVordable nisksare oy cesses and, : When the chance of loss is high and loss severity is also high, is often the bestand sometimes, the only alternative. | Waereeees refets tua kind of self-insurances The ability to zssume nk as a function of ieee eneswmenvagaies . deals with the activities desig lower the chances of loss and also make itless frequent Some writers Classify loss prevention as an aspect of ainst possible loss. | sane tareevere . Methods refer to the activities designed to reduce the severity of loss that may o If 82 ‘Scanned with CamScanner22) 23) 24) 25) 26) 27) 28) 29) 30) 31) 32) 33) 34) 35) 36) 37) 38) 39) 40} 41) 42) 43) 4a) 45) 46) 47) with CamSeanner Socialpromise / ow Its Loss reduction efforts ean be jusiified only as fone as he sav 3 they produce exeeed _ refers to the act of shifling risks to another party stich as insurance companies. Possible risks that are transferrable includes. . ce | The success of a firm is partially dependent on its see “includes all the factors outside the o-ganization which provides opportunities or pose threats to the orga ization, ‘The fourenvironmentalinfuencesare ...... teoeeeee iS an inherent: cap organization can use to gain strategic advantage, a _ is an inherent jimitation or constraint which creates sirateye dissavant Business environment can be classi which are . which an ceeeeeeeeees are units in nthe taek envi ironment that have c “the pote to regulate or influence an organizations policies and Practice The two main categories of | regulato Te. and. Some of the government regulatory agencies that oversees the activities of business enterprises includes .... CBNmeans. SEC means. SON means NEPB means... PPIBmeans....... The weapon used by trade unions, performance of certain activiti tomonitor and influence 1 inthe soci lyare consists of mac related to the means of production and distribution of wealth r has an impacton the business ofan or ganization Examples of economic structure includes Examples feconomic policies includes . Examples of economic indices include consists of fictors rel, nd heir impact on the bu Sbages canbe broadly detine ) devel factors ement of ANZ ato ms to plan. ated to manag ness ofan or das the actions at 83and execute the design, pricing, distribution 43) a9) 50) 51) 52) 60) 61) 62) 63) Socialpromise and promotion ef products, coon defines marketing as the ifying, anuicipatag, ancl satisfying customers’ requirements profitably, lis through _ , .. that the consumers get to know the availability of goglis and services. a . . bee Seesietstteceseee fefers to the effective way of running business organization. Employees who are responsible for managing other employees or other resourees Serve as ........0. are are closer to the production process. : tee «are responsible for implementing t nd strategies by top management Middle management includes positioi Function of manayers includes tae Tbewo gene pe . is the process of in habits of others to achieve a common goal. Short-term plans generally fall into one of two categories which are....... owes are plans that han been rationally developed and derived from a broader framework of plans. ware plans designed to allow the company to react to an unforeseen circumstances which may or may not be favourable to the organization. seas is the intended long-term relationship between an organization and its external environment. whey plan defines the overall, mission and direction of an organization, aveae a strategic plan is also called ...,,, vas iS the development of alternative action to be sn if an intended plan is unexpected disrupted, ANSWERS A business iwi answers A business plan Aimanigement An Miicatonal structure ‘Scanned with CamScannero) 7) My 9) lin Wh) ID) Wy lay IS) Iny Wy 1R) Vy 20) 2) My My 2S) 26) 27) 2k) 24) WW) Wy my Wy M4) 7] May Wy 1K) 4) 2 answers Hihe renting space Mh OUND aNd the rey The price al fs generated by the busine Periodic revenue - \ e Periodic earmmys promi Business isk Socio Risk takers Reineeker : Pure risk and speculative risk Speculative risk Profit and loss Hank fuptey hability and premature death Avondanee Rit One's CN Woption * Tinancial capacity Loss prevention Risk assumption Toys reduction The cast of the effont Risk transter Fire, death and theft Environment Internal ens ST The evternateny Honment Strenyth ani woah ness (internal ehvironment), opportunity and inten fevterial eminent) Strength Weabinesy trie ‘Hal environs Compe fash eny Horne Mand peneral environment eS, Suppliers and reputations, NOs, cute Hbatany Yeramenit gy, hy HENCE gual Wilereyy PEL ‘ ON OSEO. hy Mobi Wank ot ty tha and Dschaniee ¢ ' 1 dny AAA Gl wel Merrie | Secure “tard Niper OHS ew Nivena Hey ‘Scanned with CamScannerSocialpromise pres bed luction and I.come Board ia nd puapi totes. The economic environment uy, 5 socialistic or mixed econoniy ral, Monetary and fiscal policies i income. distribution of inceme. rate and growth of GNP 1 | environment whe pout Nuarketmy tis chartered institute of marketing it ment Aaeiebig menarer plant manager, AU ive Pana onal manager and von Puins epkin Giy Astetegic pian 2 and ab NEISLET Si Lingenes plans 2 answers ‘Scanned with CamScanner