A
Entrepreneurship is the ability of individuals to perceive the kind of products or services that others need and to deliver these at the right ___.
A. Design
B. Place, People, Time, and Price
C. Business Plan
D. Competition
B. Place, People, Time, and Price
They coordinate and direct the process of production with the use of available human and nonhuman resources.
A. The manager's role
B. The innovator's role
C. The capitalist's role
D. None of the above
B. The manager's role
Which phase describes a post-launch period where things go quiet?
A. Sponge
B. Panic
C. Crickets
D. Buddy up
C. Crickets
“Plan, plan, plan” refers to ___.
A. marketing activities only
B. stopping the business
C. hiring employees
D. business planning and preparing the business model
D. business planning and preparing the business model
Which competency involves identifying underlying causes of a problem?
A. Communication
B. Organizational Awareness
C. Problem Solving and Judgement
D. Teamwork
C. Problem Solving and Judgement
SWOT Analysis is a well-organized planning method used to identify _____.
A. profits and losses
B. strengths, weaknesses, opportunities, and threats
C. customers and suppliers
D. marketing strategies
B. strengths, weaknesses, opportunities, and threats
Which best describes an entrepreneur?
A. A person who manages employees only
B. The person behind entrepreneurship who assumes risks and rewards
C. A government regulator
D. A consumer of goods
B. The person behind entrepreneurship who assumes risks and rewards
The study of entrepreneurship is composed of three categories. Which option lists them correctly?
A. Market, Marketing, Management
B. Entrepreneur, Enterprise, Environment
C. Business, Market, Environment
D. Product, Price, Promotion
B. Entrepreneur, Enterprise, Environment
Results Orientation focuses on ___.
A. avoiding mistakes
B. setting and achieving goals
C. pleasing supervisors
D. delegating tasks
B. setting and achieving goals
The purpose of SWOT analysis is to ___________.
A. eliminate competition
B. increase expenses
C. reduce employees
D. determine what strategy to adopt
D. determine what strategy to adopt
Which factor is emphasized when businesses attribute their success to the location of their stores or outlets?
A. Product
B. Price
C. Place
D. Promotion
C. Place
Which statement best describes positioning?
A. The process of packaging the product
B. Choosing the location of the business
C. Determining the monetary value of a product
D. Targeting a particular market segment
D. Targeting a particular market segment
Entrepreneurial competency is a characteristic of a person which enables him/her to be effective and show superior ___.
A. leadership
B. sales
C. performance in a business venture
D. authority
C. performance in a business venture
They work as links between the business and the final consumers.
A. Suppliers
B. Market Intermediaries
C. Competitors
D. Customers
B. Market Intermediaries
Which environment includes factors beyond the control of the business enterprise?
A. Internal environment
B. Operating environment
C. External environment
D. Entrepreneurial environment
C. External environment
According to startup advice, entrepreneurs should ___.
A. fear failure
B. avoid risk
C. embrace failure
D. depend on luck
C. embrace failure
Leadership as a role-specific competency involves ___.
A. avoiding conflict
B. inspiring others to meet a common goal
C. working alone
D. managing finances only
B. inspiring others to meet a common goal
Which element of the marketing mix refers to goods, services, or anything offered by a business to satisfy the customer’s needs or wants?
A. Price
B. Product
C. Place
D. Promotion
Which of the following is considered a Core Competency?
A. Leadership
B. Innovation
C. Adaptability
D. Strategic Thinking
C. Adaptability
FILL IN THE BLANKS
In SWOT Analysis- strengths are considered as the __________of the business; weaknesses are also known as __________; opportunities referred to as ___________; and threats refer to ___________.
A. External negatives, external positives, internal positives, internal negatives
B. External positives, internal negatives, internal positives, external negatives
C. Internal negatives, internal positives, external negatives, external positives
D. Internal positives, internal negatives, external positives, external negatives
D. Internal positives, internal negatives, external positives, external negatives
Which is NOT listed as a characteristic of a successful entrepreneur?
A. Persistence
B. Risk taking
C. Fear of failure
D. Innovativeness
C. Fear of failure
Which phase encourages entrepreneurs to soak up all available information?
A. Sponge
B. Panic
C. Switcheroo
D. Crickets
A. Sponge
Imposter Syndrome is a phase where entrepreneurs ___.
A. feel extremely confident
B. think they will be found out as unworthy
C. stop learning
D. quit immediately
B. think they will be found out as unworthy
They undertake the introduction, promotion and sale of something new to the market.
A. The manager's role
B. The capitalist's role
C. The innovator's role
D. None of the above
C. The innovator's role
Client Focus as a core competency emphasizes ___.
A. pleasing competitors
B. acting as an advocate for stakeholders’ needs
C. avoiding customer feedback
D. lowering production costs
B. acting as an advocate for stakeholders’ needs