Entrepreneurial Competencies Quiz

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Questions and Answers

What is the capacity for innovation, investment, and expansion in new markets, products, and techniques called in entrepreneurship?

Locus of control

Entrepreneurial competencies (correct)

Specific goal setting

Self-efficacy

Which entrepreneurial competency involves the belief in one's own ability or self-confidence?

Ambition

Willingness to learn

Need for achievement

Self-efficacy (correct)

What does an entrepreneur with a high need for achievement do?

Believes in their own ability

Takes responsibility for outcomes (correct)

Pursues opportunities to acquire new skills

Sets specific goals

Which entrepreneurial competency involves being motivated, persistent, and persevering even in the face of situational challenges?

Strong initiative Signup and view all the answers

What is the science of converting processed ideas into a remarkable business venture called?

Entrepreneurship Signup and view all the answers

Which entrepreneurial competency involves having a strong willingness to learn and often pursuing opportunities to acquire new skills and competencies?

Willingness to learn Signup and view all the answers

What is the Entrepreneurial Core Competency defined as?

A combination of entrepreneurial concepts, principles, and skills Signup and view all the answers

Which characteristic describes an entrepreneur's ability to choose actions even without all necessary information?

Adaptability & Flexibility Signup and view all the answers

What does 'willingness to take risk' refer to in the context of entrepreneurship?

Identifying and calculating risk Signup and view all the answers

What character trait involves working well with people from different backgrounds?

Interpersonal Skills Signup and view all the answers

Which skill involves keeping oneself updated with developments in the locality and seeking out best practices?

Commercial Aptitude Signup and view all the answers

What does 'decisiveness' involve in entrepreneurship?

Resolving issues as they arise Signup and view all the answers

Which character trait involves persisting in pursuing goals despite hindrances and problems?

Optimism Signup and view all the answers

What does 'strategic planning' help achieve in an organization?

Achieving goals in the organization Signup and view all the answers

What does 'networking/collaboration' provide access to in entrepreneurship?

$\text{Information, collaboration, and profits}$ Signup and view all the answers

What is conceptual thinking prepared to use, according to the text?

Innovative approaches and new ideas Signup and view all the answers

Entrepreneurs must learn how to be highly ______ and adaptable

flexible Signup and view all the answers

Entrepreneurs often deal very well with a unique ability to choose actions even without all necessary ______

information Signup and view all the answers

Successful learners are willing to take ______

risk Signup and view all the answers

Learners with strong interpersonal skills work well with people from different ______

backgrounds Signup and view all the answers

An entrepreneur has a positive sense of values and personal beliefs, creating ______ in making business decisions

influence Signup and view all the answers

The entrepreneur is prepared to use new approaches and comes up with new ideas that may enhance ______

work Signup and view all the answers

The entrepreneur understands that thinking using strategies can help achieve goals in the ______

organization Signup and view all the answers

The entrepreneur keeps himself updated with developments in the locality; seeks out best practice; and identifies and determines opportunities that are not common to ______

others Signup and view all the answers

The entrepreneur persists in pursuing goals despite hindrances and problems; performs in the hope of success rather than fear of failures; and manages difficult ______

situations Signup and view all the answers

Competitive advantage refers to the strategic position and ______

condition Signup and view all the answers

Entrepreneurship is a science of converting processed ideas into a remarkable business venture. It is also a capacity for innovation, investment, and expansion in new markets, products, and techniques. In starting a business, learner should seek entrepreneurial competencies such as: 1. Locus of control: Entrepreneur must know how to determine the state to which a person agreed that their actions can directly affect a situation, or that they can control a result. 2. Specific goal setting: Entrepreneurs should be motivated to set goals, particularly business growth objectives, have been found to increase firm growth resulted in the firm performance and innovation. 3. Self-efficacy: Entrepreneurs must believe in their own ability or self confidence. 4. Need for achievement: Entrepreneurs must have a high need for achievement take responsibility for outcomes. 5. Ambition: Entrepreneurs must be motivated, persistent, and persevere even in the face of situational challenges. 6. ______: Entrepreneurs should have a strong willingness to learn often pursue opportunities to acquire new skills and competencies. 7. Strong initiative: Entrepreneurs must have a high intative are often driven to work hard. 8.

Willingness to take risk Signup and view all the answers

Entrepreneurship is a science of converting processed ideas into a remarkable business venture. It is also a capacity for innovation, investment, and expansion in new markets, products, and techniques. In starting a business, learner should seek entrepreneurial competencies such as: 1. Locus of control: Entrepreneur must know how to determine the state to which a person agreed that their actions can directly affect a situation, or that they can control a result. 2. Specific goal setting: Entrepreneurs should be motivated to set goals, particularly business growth objectives, have been found to increase firm growth resulted in the firm performance and innovation. 3. Self-efficacy: Entrepreneurs must believe in their own ability or self confidence. 4. Need for achievement: Entrepreneurs must have a high need for achievement take responsibility for outcomes. 5. Ambition: Entrepreneurs must be motivated, persistent, and persevere even in the face of situational challenges. 6. Willingness to learn: Entrepreneurs should have a strong ______ often pursue opportunities to acquire new skills and competencies. 7. Strong initiative: Entrepreneurs must have a high intative are often driven to work hard. 8.

Initiative Signup and view all the answers

Entrepreneurship is a science of converting processed ideas into a remarkable business venture. It is also a capacity for innovation, investment, and expansion in new markets, products, and techniques. In starting a business, learner should seek entrepreneurial competencies such as: 1. Locus of control: Entrepreneur must know how to determine the state to which a person agreed that their actions can directly affect a situation, or that they can control a result. 2. Specific goal setting: Entrepreneurs should be motivated to set goals, particularly business growth objectives, have been found to increase firm growth resulted in the firm performance and innovation. 3. Self-efficacy: Entrepreneurs must believe in their own ability or self confidence. 4. Need for achievement: Entrepreneurs must have a high need for achievement take responsibility for outcomes. 5. Ambition: Entrepreneurs must be motivated, persistent, and persevere even in the face of situational challenges. 6. Willingness to learn: Entrepreneurs should have a strong willingness to learn often pursue opportunities to acquire new ______ and competencies. 7. Strong initiative: Entrepreneurs must have a high intative are often driven to work hard. 8.

Skills Signup and view all the answers

Entrepreneurship is a science of converting processed ideas into a remarkable business venture. It is also a capacity for innovation, investment, and expansion in new markets, products, and techniques. In starting a business, learner should seek entrepreneurial competencies such as: 1. Locus of control: Entrepreneur must know how to determine the state to which a person agreed that their actions can directly affect a situation, or that they can control a result. 2. Specific goal setting: Entrepreneurs should be motivated to set goals, particularly business growth objectives, have been found to increase firm growth resulted in the firm performance and innovation. 3. Self-efficacy: Entrepreneurs must believe in their own ability or ______. 4. Need for achievement: Entrepreneurs must have a high need for achievement take responsibility for outcomes. 5. Ambition: Entrepreneurs must be motivated, persistent, and persevere even in the face of situational challenges. 6. Willingness to learn: Entrepreneurs should have a strong willingness to learn often pursue opportunities to acquire new skills and competencies. 7. Strong initiative: Entrepreneurs must have a high intative are often driven to work hard. 8.

Self confidence Signup and view all the answers

Entrepreneurship is a science of converting processed ideas into a remarkable business venture. It is also a capacity for innovation, investment, and expansion in new markets, products, and techniques. In starting a business, learner should seek entrepreneurial competencies such as: 1. Locus of control: Entrepreneur must know how to determine the state to which a person agreed that their actions can directly affect a situation, or that they can control a result. 2. Specific goal setting: Entrepreneurs should be motivated to set goals, particularly business growth objectives, have been found to increase firm growth resulted in the firm performance and innovation. 3. Self-efficacy: Entrepreneurs must believe in their own ability or self confidence. 4. Need for achievement: Entrepreneurs must have a high ______ take responsibility for outcomes. 5. Ambition: Entrepreneurs must be motivated, persistent, and persevere even in the face of situational challenges. 6. Willingness to learn: Entrepreneurs should have a strong willingness to learn often pursue opportunities to acquire new skills and competencies. 7. Strong initiative: Entrepreneurs must have a high intative are often driven to work hard. 8.

Responsibility Signup and view all the answers

Entrepreneurship is a science of converting processed ideas into a remarkable business venture. It is also a capacity for innovation, investment, and expansion in new markets, products, and techniques. In starting a business, learner should seek entrepreneurial competencies such as: 1. Locus of control: Entrepreneur must know how to determine the state to which a person agreed that their actions can directly affect a situation, or that they can control a result. 2. Specific goal setting: Entrepreneurs should be motivated to set goals, particularly business growth objectives, have been found to increase firm growth resulted in the firm performance and innovation. 3. ______: Entrepreneurs must believe in their own ability or self confidence. 4. Need for achievement: Entrepreneurs must have a high need for achievement take responsibility for outcomes. 5. Ambition: Entrepreneurs must be motivated, persistent, and persevere even in the face of situational challenges. 6. Willingness to learn: Entrepreneurs should have a strong willingness to learn often pursue opportunities to acquire new skills and competencies. 7. Strong initiative: Entrepreneurs must have a high intative are often driven to work hard. 8.

Self-efficacy Signup and view all the answers

Study Notes