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Typically, the entrepreneur is seen as an individual who

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Typically, the entrepreneur is seen as an individual who [#permalink] New post 19 Jan 2009, 12:55
00:00
A
B
C
D
E

Difficulty:

(N/A)

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0% (00:00) correct 0% (00:00) wrong based on 0 sessions
Typically, the entrepreneur is seen as an individual who owns and operates a small business. But simply to own and operate a small business – or even a big business – does not make someone an entrepreneur. If this person is a true entrepreneur, then new products are being created and new ways of providing services are being implemented.

What can be best concluded from above.


(A) Mike provided the seed funding for a very innovative business - Intel, he is a very successful entrepreneur.
(B) Entrepreneurs are the main actors in economic growth.
(C) Mike is an owner of a large business, he may be an entrepreneur.
(D) Someone who develops an enterprise may be considered an entrepreneur.
(E) Mike does cutting-edge research in defense industry, he is an entrepreneur.

Difficulty: 7/10
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Re: CR: Entrepreneur [#permalink] New post 19 Jan 2009, 14:54
I pick E.
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Re: CR: Entrepreneur [#permalink] New post 19 Jan 2009, 17:11
reply2spg wrote:
Typically, the entrepreneur is seen as an individual who owns and operates a small business. But simply to own and operate a small business – or even a big business – does not make someone an entrepreneur. If this person is a true entrepreneur, then new products are being created and new ways of providing services are being implemented.

What can be best concluded from above.


(A) Mike provided the seed funding for a very innovative business - Intel, he is a very successful entrepreneur.
(B) Entrepreneurs are the main actors in economic growth.
(C) Mike is an owner of a large business, he may be an entrepreneur.
(D) Someone who develops an enterprise may be considered an entrepreneur.
(E) Mike does cutting-edge research in defense industry, he is an entrepreneur.

Difficulty: 7/10


The answer can be very well debated on what the part of sentence develops an enterprise means.

M-W says enterprise can mean the following. For our context it is a BO

1: a project or undertaking that is especially difficult, complicated, or risky
2: readiness to engage in daring or difficult action : initiative <showed great enterprise in dealing with the crisis>
3 a: a unit of economic organization or activity ; especially : a business organization
b: a systematic purposeful activity <agriculture is the main economic enterprise among these people>

Does developing a BO need invention of new products and new way of services? Yes and NO.

Same with C. Mike might be developing New products and new services or not.

Both C and D look good to me. I will pick C because the definition needs ownership and D says development.

OA & OE?
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Re: CR: Entrepreneur [#permalink] New post 19 Jan 2009, 17:49
I am going with C

I dislike D because developing enterprise is a new idea not discussed in the passage.

OA?
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Re: CR: Entrepreneur [#permalink] New post 19 Jan 2009, 18:48
My pick is C as well. D states development of enterprise NOT creation of new product. C states that Mike has ownership and he may or may not develop new product - may be an entrepreneur.
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Re: CR: Entrepreneur [#permalink] New post 19 Jan 2009, 20:03
OA D
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Re: CR: Entrepreneur [#permalink] New post 19 Jan 2009, 20:19
reply2spg wrote:
Typically, the entrepreneur is seen as an individual who owns and operates a small business. But simply to own and operate a small business – or even a big business – does not make someone an entrepreneur. If this person is a true entrepreneur, then new products are being created and new ways of providing services are being implemented.

What can be best concluded from above.


(A) Mike provided the seed funding for a very innovative business - Intel, he is a very successful entrepreneur.
(B) Entrepreneurs are the main actors in economic growth.
(C) Mike is an owner of a large business, he may be an entrepreneur.
(D) Someone who develops an enterprise may be considered an entrepreneur.
(E) Mike does cutting-edge research in defense industry, he is an entrepreneur.

Difficulty: 7/10


1. But simply to own and operate a small business does not make someone an entrepreneur.
so C out

A and B irrelevant, A and B out
E definitely out because E says for sure that anybody doing the research is an entrepreneur. The logic is invered from "if true entrepreneur, developing research"

D is the best!
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Re: CR: Entrepreneur [#permalink] New post 21 Jan 2009, 09:20
sondenso wrote:
reply2spg wrote:
Typically, the entrepreneur is seen as an individual who owns and operates a small business. But simply to own and operate a small business – or even a big business – does not make someone an entrepreneur. If this person is a true entrepreneur, then new products are being created and new ways of providing services are being implemented.

What can be best concluded from above.


(A) Mike provided the seed funding for a very innovative business - Intel, he is a very successful entrepreneur.
(B) Entrepreneurs are the main actors in economic growth.
(C) Mike is an owner of a large business, he may be an entrepreneur.
(D) Someone who develops an enterprise may be considered an entrepreneur.
(E) Mike does cutting-edge research in defense industry, he is an entrepreneur.

Difficulty: 7/10


1. But simply to own and operate a small business does not make someone an entrepreneur.
so C out

A and B irrelevant, A and B out
E definitely out because E says for sure that anybody doing the research is an entrepreneur. The logic is invered from "if true entrepreneur, developing research"

D is the best!


This is a bad Q. developing an enterprise does not necessarily mean that developing new products and new ways of services. As per the definition only the first test prep company was the entrepreneur and every one else followed suit are not. How ever, all the test prep companies are developed enterprises.

OA & OE please?
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Re: CR: Entrepreneur [#permalink] New post 21 Jan 2009, 09:46
Typically, the entrepreneur is seen as an individual who owns and operates a small business. But simply to own and operate a small business – or even a big business – does not make someone an entrepreneur. If this person is a true entrepreneur, then new products are being created and new ways of providing services are being implemented.

What can be best concluded from above.

Typically: enterpreuner => SB owner
Author: SB/LB alone => !enterpreuner
enterpreuner => new products, new ways of service

(A) Mike provided the seed funding for a very innovative business - Intel, he is a very successful entrepreneur.

Not a new way
(B) Entrepreneurs are the main actors in economic growth.
Irrelevant
(C) Mike is an owner of a large business, he may be an entrepreneur.

Clearly author says owning LB alone => !enterpreuner
(D) Someone who develops an enterprise may be considered an entrepreneur.
Possible depends on what is needed for "developing an enterprise" likely new products or new services

(E) Mike does cutting-edge research in defense industry, he is an entrepreneur.
Research => !new product or !new service

D is an answer based on POE.


Difficulty: 7/10

Which source is this? How do you get the difficulty level? Would really like to
see what level qns I am getting wrong...
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Re: CR: Entrepreneur [#permalink] New post 21 Jan 2009, 11:33
icandy wrote:
reply2spg wrote:
Typically, the entrepreneur is seen as an individual who owns and operates a small business. But simply to own and operate a small business – or even a big business – does not make someone an entrepreneur. If this person is a true entrepreneur, then new products are being created and new ways of providing services are being implemented.

What can be best concluded from above.


(A) Mike provided the seed funding for a very innovative business - Intel, he is a very successful entrepreneur.
(B) Entrepreneurs are the main actors in economic growth.
(C) Mike is an owner of a large business, he may be an entrepreneur.
(D) Someone who develops an enterprise may be considered an entrepreneur.
(E) Mike does cutting-edge research in defense industry, he is an entrepreneur.

Difficulty: 7/10


The answer can be very well debated on what the part of sentence develops an enterprise means.

M-W says enterprise can mean the following. For our context it is a BO

1: a project or undertaking that is especially difficult, complicated, or risky
2: readiness to engage in daring or difficult action : initiative <showed great enterprise in dealing with the crisis>
3 a: a unit of economic organization or activity ; especially : a business organization
b: a systematic purposeful activity <agriculture is the main economic enterprise among these people>

Does developing a BO need invention of new products and new way of services? Yes and NO.

Same with C. Mike might be developing New products and new services or not.

Both C and D look good to me. I will pick C because the definition needs ownership and D says development.

OA & OE?


icandy,

I had to choose between C and E and chose E.My understanding of the question stem was that innovation is essential for a person to be defined an entrepreneur -"new products are being created and new ways of providing services are being implemented".How does the question tie the definition of an entrepreneur to one who strictly has to own a business?Does it not imply otherwise - "simply to own and operate a small business – or even a big business – does not make someone an entrepreneur."

If mike is a whizz bang reasearcher ,is it not possible that he might develop some kickass product - say a communication device ,which might later be adopted for commercial use.This meets the definition of a new product developed and subsequent service provided in the question stem.

Could you explain why E is a bad choice?
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Re: CR: Entrepreneur [#permalink] New post 21 Jan 2009, 12:32
Kiski wrote:
icandy wrote:
reply2spg wrote:
Typically, the entrepreneur is seen as an individual who owns and operates a small business. But simply to own and operate a small business – or even a big business – does not make someone an entrepreneur. If this person is a true entrepreneur, then new products are being created and new ways of providing services are being implemented.

What can be best concluded from above.


(A) Mike provided the seed funding for a very innovative business - Intel, he is a very successful entrepreneur.
(B) Entrepreneurs are the main actors in economic growth.
(C) Mike is an owner of a large business, he may be an entrepreneur.
(D) Someone who develops an enterprise may be considered an entrepreneur.
(E) Mike does cutting-edge research in defense industry, he is an entrepreneur.

Difficulty: 7/10


The answer can be very well debated on what the part of sentence develops an enterprise means.

M-W says enterprise can mean the following. For our context it is a BO

1: a project or undertaking that is especially difficult, complicated, or risky
2: readiness to engage in daring or difficult action : initiative <showed great enterprise in dealing with the crisis>
3 a: a unit of economic organization or activity ; especially : a business organization
b: a systematic purposeful activity <agriculture is the main economic enterprise among these people>

Does developing a BO need invention of new products and new way of services? Yes and NO.

Same with C. Mike might be developing New products and new services or not.

Both C and D look good to me. I will pick C because the definition needs ownership and D says development.

OA & OE?


icandy,

I had to choose between C and E and chose E.My understanding of the question stem was that innovation is essential for a person to be defined an entrepreneur -"new products are being created and new ways of providing services are being implemented".How does the question tie the definition of an entrepreneur to one who strictly has to own a business?Does it not imply otherwise - "simply to own and operate a small business – or even a big business – does not make someone an entrepreneur."

If mike is a whizz bang reasearcher ,is it not possible that he might develop some kickass product - say a communication device ,which might later be adopted for commercial use.This meets the definition of a new product developed and subsequent service provided in the question stem.

Could you explain why E is a bad choice?


Mike does cutting edge research but research does not always end up in new products or services. If all the PHD's in the country invent a new product, we would have been a lot better. IMO Research does not always translate into new P & S

I humbly disagreed with D for the same reason. Developing an E does not need one to invent or design new P & S.

I felt that C is more generic in that M is a owner and he may be an E. I felt that may be is the key and there is no room for ambiguity with ownership as with development

I guess the Q writer expected us to understand developing an E as developing new P & S.
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Re: CR: Entrepreneur [#permalink] New post 21 Jan 2009, 14:12
There must be some kind of typo because the best answer is C (while D is a possibility, there is absolutely no justification for eliminating C).
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Re: CR: Entrepreneur [#permalink] New post 21 Jan 2009, 22:03
reply2spg, could you share the source of this question? I also ended up choosing C, but that is not the right answer.

I fail to understand how D could even be a possible right answer. From the argument, it is clear that an enterpreneur is someone who owns a business (small or large) and is also involved in innovative products and services. D does not specify the first part - ownership of business.
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Re: CR: Entrepreneur [#permalink] New post 21 Jan 2009, 22:46
scthakur wrote:
reply2spg, could you share the source of this question? I also ended up choosing C, but that is not the right answer.

I fail to understand how D could even be a possible right answer. From the argument, it is clear that an enterpreneur is someone who owns a business (small or large) and is also involved in innovative products and services. D does not specify the first part - ownership of business.


But simply to own and operate a small business – or even a big business – does not make someone an entrepreneur
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Re: CR: Entrepreneur [#permalink] New post 22 Jan 2009, 19:51
Source of the question http://www.urch.com/forums/gmat-critica ... -mods.html
scthakur wrote:
reply2spg, could you share the source of this question? I also ended up choosing C, but that is not the right answer.

I fail to understand how D could even be a possible right answer. From the argument, it is clear that an enterpreneur is someone who owns a business (small or large) and is also involved in innovative products and services. D does not specify the first part - ownership of business.
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Re: CR: Entrepreneur [#permalink] New post 23 Jan 2009, 02:58
In that sense, D also does no justificaon to the ans. In C, atleast teher is a possibilty that he maybe an enterprenuer. mabe he is not. I still find C as the best whtever the OA be
sondenso wrote:
scthakur wrote:
reply2spg, could you share the source of this question? I also ended up choosing C, but that is not the right answer.

I fail to understand how D could even be a possible right answer. From the argument, it is clear that an enterpreneur is someone who owns a business (small or large) and is also involved in innovative products and services. D does not specify the first part - ownership of business.


But simply to own and operate a small business – or even a big business – does not make someone an entrepreneur
Re: CR: Entrepreneur   [#permalink] 23 Jan 2009, 02:58
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