Which person aims to start a business but with a goal of achieving a specific lifestyle?

Study for the UofT MGT100 Fundamentals of Management Exam. Practice with quizzes and detailed study materials to excel. Prepare with clear explanations and valuable tips to ace your exam!

The correct choice reflects the essence of a lifestyle entrepreneur, who primarily aims to build a business that aligns with their personal desires, values, and lifestyle preferences. This type of entrepreneur typically prioritizes work-life balance, personal fulfillment, and the ability to live life on their own terms over maximizing profits or scaling the business aggressively.

Lifestyle entrepreneurs often choose to start businesses in fields they are passionate about, allowing them to maintain control over their time and activities. They are generally more focused on achieving a sustainable way of living rather than pursuing high growth or large-scale business operations.

The other options represent different types of entrepreneurial approaches. Social entrepreneurs focus on solving social issues, prioritizing impact over personal lifestyle. Intrapreneurs operate within an existing organization to foster innovation while advancing company goals, rather than pursuing personal lifestyle goals through their own business ventures. Serial entrepreneurs are those who repeatedly start and manage multiple businesses, often with a focus on growth and profits rather than lifestyle considerations.

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