Entrepreneurial Competencies Quiz

What characteristic refers to working diligently and consistently?

• Confident

• Hardworking

• Creative

• Disciplined

Which trait involves self-reliance in one's ability and judgment?

• Committed

• Confident

• Hardworking

• Disciplined

What is a key skill that involves effective communication?

• Excellent planner

• Sound decision maker

• Possesses people skills

• Creative

Which of the following is NOT a characteristic of a good entrepreneur?

• Indecisive

• Hardworking

• Profit-oriented

• Ability to accept change

What is the first step in the product development process?

• Identify customer needs

• Establish target specifications

• Analyze competitive products

• Generate product concepts

What does a value proposition provide to customers?

• A detailed product manual

• A list of competitors

• A reason to ignore the product

• A believable collection of reasons to buy

Which of the following describes the ability to make wise decisions?

• Creative

• Sound decision maker

• Excellent planner

• Hardworking

What is the purpose of analyzing competitive products?

• To reduce customer feedback

• To ignore market trends

• To establish product specifications

• To increase production costs

Which of the following is considered a basic need?

• Fashion accessories

• Luxury cars

• Expensive shoes

• Shelter

What is the final stage of concept development?

• Select a product concept

• Refine product specifications

• Plan the remaining development project

• Perform economic analysis