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Lesson 156 of 1524

Professions under the Microscope

The opportunities to create a company, be your own boss, make a dramatic impact on business, establish an entrepreneurial culture that will be adopted by others, and possibly become rich in the process certainly all…

Practice this chapter

The opportunities to create a company, be your own boss, make a dramatic impact on business, establish an entrepreneurial culture that will be adopted by others, and possibly become rich in the process certainly all… Still, the entrepreneurial lifestyle is challenging, and the success rate for start-ups is exceptionally low.

The atmosphere surrounding entrepreneurs and their start-ups can provide a dizzying rush. Interpersonal conflicts are prevalent in start-up environments, and entrepreneurs who seek to stay true to their vision and ethical values face a difficult road.

entrepreneurial lifestyle — challenging, and the success rate for start-ups is exceptionally low. entrepreneur — a business leader willing to take on the risk of starting a new company and offering a product or service in the hope of a profit. entrepreneurial culture — the combination of personality and management style with which entrepreneurs shape the initial business practices and ethical environment of their firm. multipayer health care system — a means of providing health care in which the patient and others such as an employer and a private health insurance company all pay for the patient’s care.

Worked example

What does “entrepreneurial lifestyle” mean in Professions under the Microscope?

  1. 1Use the wording this chapter gives for entrepreneurial lifestyle.
  2. 2The book says: challenging, and the success rate for start-ups is exceptionally low.
  3. 3Do not use the meaning of entrepreneur. That term means a business leader willing to take on the risk of starting a new company and offering a product or service in the hope of a profit.

Result: challenging, and the success rate for start-ups is exceptionally low

Why. That is the meaning this chapter gives for entrepreneurial lifestyle.

Do not swap entrepreneurial lifestyle and entrepreneur. entrepreneurial lifestyle means challenging, and the success rate for start-ups is exceptionally low. entrepreneur means a business leader willing to take on the risk of starting a new company and offering a product or service in the hope of a profit.

Practice margin

This chapter

A fresh set from this chapter only. Choose 10 or 20. Multiple choice and fill-in, with no repeat inside the set.