Character istics
Name two characterisitcs of a successful entrepreneur
What is:
Creativity, initiative, leadership, confidence, resilience, adaptability, problem-solving, communication, risk-taking, perseverance, organization etc.
Who founded Apple?
Steve Jobs and Steve Wozniak
What is Corporate Social Responsibility (CSR)?
A company's commitment to operating ethically while considering its impact on society, employees, customers, and the environment.
What is an entrepreneur?
Someone who identifies an opportunity and organizes resources to start and operate a business while accepting financial risk.
Name one entrepreneurial strength you possess.
Answers will vary.
Examples:
Leadership
Creativity
Communication
Organization
Determination
Why is resilience an important trait for entrepreneurs?
Entrepreneurs often face setbacks, failures, and unexpected challenges. Resilience allows them to learn from mistakes, adapt, and continue working toward their goals.
Name a Canadian Entrepreneur and describe their business.
Answers vary. Ex:
Possible Answers:
Tobias Lütke – Shopify
Arlene Dickinson – Venture Communications
Chip Wilson – lululemon
David Cheriton – Technology investor
Why should businesses behave ethically?
Because ethical businesses: Build trust, improve reputation, retain customers, treat employees fairly, reduce legal risks, support communities.
What does it mean to be enterprising?
Being creative, innovative, proactive, and willing to solve problems or take initiative in many situations not just business.
Name one entrepreneurial skill you would like to improve.
Answers will vary.
Examples:
Public speaking
Financial literacy
Time management
Confidence
Networking
Give an example of how an entrepreneur demonstrates initiative.
Identifying an unmet customer need, starting a business without being asked, creating a new product to solve a problem, taking action before competitors.
How have entrepreneurs changed society?
Answers vary. Ex:
Possible answers:
Created jobs, introduced new technologies, improved products and services, solved everyday problems, increased competition, improved quality of life etc.
A company discovers one of its suppliers uses child labour. What should they do?
Answers vary. Ex: End the partnership, find an ethical supplier, investigate further, ensure labour standards are met.
Can someone be enterprising without owning a business?
Yes.
Examples:
Student leaders
Teachers
Volunteers
Community organizers
Employees who develop new ideas
Describe a time you demonstrated leadership.
Answers will vary
Which entreprenurial characterisitc is MOST important? Defend your answer
Possible answers:
Resilience because failure is inevitable, creativity because businesses need innovation, leadership because entrepreneurs work with others, adaptability because markets constantly change.
Who is the Canadian entrepreneur who co-founded Shopify, one of the world's largest e-commerce companies?
Tobias Lütke
Businesses can be profitable while supporting their communities. True or False? Explain.
True.
Examples: Donations, sponsorships, fair wages, sustainable practices
Explain the difference between an entrepreneur and an enterprising person.
An entrepreneur starts and manages a business.
An enterprising person demonstrates initiative, creativity, leadership, and problem-solving in any setting.
If you started a business tomorrow, what would it be?
Answers will vary.
Describe a situation where an entrepreneur would need both leadership and adaptability.
Answers vary. Ex: A restaurant suddenly loses staff. The owner reorganizes employee duties (leadership) while changing operating hours until replacements are hired (adaptability).
What is the name of the television show where entrepreneurs pitch their business ideas to a panel of investors?
Dragon's Den
Local products or cheaper imported products? Justify your answer.
No single correct answer.
Cost
Sustainability
Supporting local businesses
Consumer demand
Environmental impact
What is the difference between an entrepreneur and an intrapreneur? Provide one example of each.
An entrepreneur starts and owns their own business, taking on the financial risks and rewards associated with it. They are responsible for developing new ideas, securing funding, and managing the overall success of the business.
An intrapreneur is an employee who acts like an entrepreneur within an existing organization. They develop innovative ideas, products, or processes, but use the company's resources and do not assume the same financial risk as an entrepreneur.
Describe your own entrepreneur profile.
Answer should include:
Personal strengths
Areas for improvement
Interests
Potential business idea
Explanation connecting these elements