1 Identify and discuss five types of entrel reneurship (5 marks) 2. Discuss five cultural factors that affect entrepreneurial development (5 marks) 3. Discuss five importance of business pla nning in an enterprise (5 marks) 4. Give five importance of entrepreneursh ip in economic growth (5 marks) 5 Governments all over the world get involved in entrepreneurial activities. Identify the role of government in entrepreneuri l activities. (5 marks) 6. Identify and discuss five barriers of creativity and innovation at the work place (5 marks)

Question

1 Identify and discuss five types of entrel reneurship (5 marks) 2. Discuss five cultural factors that affect entrepreneurial development (5 marks) 3. Discuss five importance of business pla nning in an enterprise (5 marks) 4. Give five importance of entrepreneursh ip in economic growth (5 marks) 5 Governments all over the world get involved in entrepreneurial activities. Identify the role of government in entrepreneuri l activities. (5 marks) 6. Identify and discuss five barriers of creativity and innovation at the work place (5 marks)

Answer 1

1. Five types of entrepreneurship: - Sole Proprietorship: A business owned and operated by a single individual. - Partnership: A business owned and operated by two or more individuals. - Corporation: A business that is a separate legal entity from its owners. - Cooperative: A business owned and operated by a group of individuals for their mutual benefit. - Franchise: A business that operates under the brand and system of an established company.2. Five cultural factors that affect entrepreneurial development: - Cultural values and norms: The beliefs and attitudes of a society can influence the willingness of individuals to take risks and start businesses. - Education and training: The level of education and training available to individuals can impact their entrepreneurial capabilities. - Social networks and relationships: The connections and relationships individuals have within their communities can provide support and resources for entrepreneurship. - Government policies and regulations: The policies and regulations put in place by governments can either encourage or hinder entrepreneurial activities. - Economic conditions: The overall economic environment, including factors such as inflation, unemployment, and economic growth, can affect the opportunities and challenges faced by entrepreneurs.3. Five importance of business planning in an enterprise: - Provides a clear direction and vision for the business. - Helps identify potential challenges and opportunities. - Serves as a roadmap for decision-making and resource allocation. - Attracts potential investors and partners. - Facilitates effective communication and coordination among team members.4. Five importance of entrepreneurship in economic growth: - Creates job opportunities and reduces unemployment. - Drives innovation and technological advancements. - Stimulates competition and improves product quality. - Contributes to GDP growth and economic development. - Encourages the efficient allocation of resources and promotes economic diversification.5. The role of government in entrepreneurial activities: - Providing financial support and incentives for entrepreneurs. - Offering training and mentorship programs to develop entrepreneurial skills. - Implementing policies and regulations that foster a conducive environment for entrepreneurship. - Facilitating access to resources such as funding, technology, and markets. - Promoting entrepreneurship education and awareness within the community.6. Five barriers of creativity and innovation at the workplace: - Lack of resources and funding. - Resistance to change and new ideas. - Limited access to information and knowledge. - Inadequate training and skill development opportunities. - Organizational culture that discourages risk-taking and experimentation.

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