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ENTREPRENEURSHIP AND SMALL BUSINESS CERTIFICATION EXAM 2025 QUESTIONS AND ANSWERS Elements of the Design Thinking Process - ....ANSWER ...-Stage 1: Emphasize- Research Your Users' Needs Stage 2: Define- State Your Users' Needs and Problems Stage 3: Ideate- Challenge Assumptions and Create Ideas Stage 4: Prototype- Start to Create Solutions Stage 5: Test- Try Your Solutions Out Difference between small businesses and entrepreneurs? - ....ANSWER ...-Small businesses are not always interested in taking on new business opportunities. Entrepreneurs set up a business with the aim to make a profit. Compensation Types - ....ANSWER ...-1. Piece work- compensation on a per-unit basis. EX: an employer can choose to pay mechanics a fixed rate for each vehicle they repair instead of paying an hourly rate. 2. Salary- employee receives a set amount of pay each month without overtime compensation for extra hours worked. ....FOR STUDY PURPOSES...©️2025 ALL RIGHTS RESERVED... 1