Entrepreneurship

Name & Student Number

Identify the correct term for a person who organizes and manages a business undertaking, taking all the risk for a new business opportunity.

• Intrapreneur

• Entrepreneur

• Employee

• Lawyer

Soft skills are classified as........ ?

• Job related knowledge and abilities.

• Physical skills needed to do a job

• Personal qualities that employees have.

• Artistic skills like drawing and painting

Which characteristic is not that of a successful entrepreneur?

• Negative minded

• Resourceful

• Organized

• Creative thinker

Identify the term for someone within a large business who takes direct responsibility for turning an idea into a profitable finished product through using entrepreneurial talents such as risk-taking and innovation.

• Investor

• Employer

• Intrapreneur

Identify what impact intrapreneurship has on economic growth of a country?

• Only focusing on profit in a company.

• Employment Creation

Identify the correct steps in starting a business.

• Determine location, sourcing capital & building a customer base.

• Building a customer base, determining a location & sourcing capital

• Sourcing Capital, building a customer base & determine location

• Sourcing capital, determining location & building a customer base.

Identify which aspect is not a problem for start-up businesses?

• Competition

• Poor management skills

• Creativity

• Lack of finance and working capital

Competitive advantage is based on........?

• Ensuring the company makes profit.

• When a company sells a good or service at a lower price than there competitors.

• Ensures a company has capital for resources.

• None of the above

Identify which aspect is related to a reward for entrepreneurs?

• Sacrificing personal capital

• Emotional risk

• A flexible schedule

• No steady pay checks.