Podcast
Questions and Answers
What is the capacity for innovation, investment, and expansion in new markets, products, and techniques called in entrepreneurship?
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?
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?
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?
Which entrepreneurial competency involves being motivated, persistent, and persevering even in the face of situational challenges?
What is the science of converting processed ideas into a remarkable business venture called?
What is the science of converting processed ideas into a remarkable business venture called?
Which entrepreneurial competency involves having a strong willingness to learn and often pursuing opportunities to acquire new skills and competencies?
Which entrepreneurial competency involves having a strong willingness to learn and often pursuing opportunities to acquire new skills and competencies?
What is the Entrepreneurial Core Competency defined as?
What is the Entrepreneurial Core Competency defined as?
Which characteristic describes an entrepreneur's ability to choose actions even without all necessary information?
Which characteristic describes an entrepreneur's ability to choose actions even without all necessary information?
What does 'willingness to take risk' refer to in the context of entrepreneurship?
What does 'willingness to take risk' refer to in the context of entrepreneurship?
What character trait involves working well with people from different backgrounds?
What character trait involves working well with people from different backgrounds?
Which skill involves keeping oneself updated with developments in the locality and seeking out best practices?
Which skill involves keeping oneself updated with developments in the locality and seeking out best practices?
What does 'decisiveness' involve in entrepreneurship?
What does 'decisiveness' involve in entrepreneurship?
Which character trait involves persisting in pursuing goals despite hindrances and problems?
Which character trait involves persisting in pursuing goals despite hindrances and problems?
What does 'strategic planning' help achieve in an organization?
What does 'strategic planning' help achieve in an organization?
What does 'networking/collaboration' provide access to in entrepreneurship?
What does 'networking/collaboration' provide access to in entrepreneurship?
What is conceptual thinking prepared to use, according to the text?
What is conceptual thinking prepared to use, according to the text?
Entrepreneurs must learn how to be highly ______ and adaptable
Entrepreneurs must learn how to be highly ______ and adaptable
Entrepreneurs often deal very well with a unique ability to choose actions even without all necessary ______
Entrepreneurs often deal very well with a unique ability to choose actions even without all necessary ______
Successful learners are willing to take ______
Successful learners are willing to take ______
Learners with strong interpersonal skills work well with people from different ______
Learners with strong interpersonal skills work well with people from different ______
An entrepreneur has a positive sense of values and personal beliefs, creating ______ in making business decisions
An entrepreneur has a positive sense of values and personal beliefs, creating ______ in making business decisions
The entrepreneur is prepared to use new approaches and comes up with new ideas that may enhance ______
The entrepreneur is prepared to use new approaches and comes up with new ideas that may enhance ______
The entrepreneur understands that thinking using strategies can help achieve goals in the ______
The entrepreneur understands that thinking using strategies can help achieve goals in the ______
The entrepreneur keeps himself updated with developments in the locality; seeks out best practice; and identifies and determines opportunities that are not common to ______
The entrepreneur keeps himself updated with developments in the locality; seeks out best practice; and identifies and determines opportunities that are not common to ______
The entrepreneur persists in pursuing goals despite hindrances and problems; performs in the hope of success rather than fear of failures; and manages difficult ______
The entrepreneur persists in pursuing goals despite hindrances and problems; performs in the hope of success rather than fear of failures; and manages difficult ______
Competitive advantage refers to the strategic position and ______
Competitive advantage refers to the strategic position and ______
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Study Notes
Entrepreneurial Competencies
- Entrepreneurship is a science of converting processed ideas into a remarkable business venture, and it is also a capacity for innovation, investment, and expansion in new markets, products, and techniques.
Key Competencies
- Locus of control: The ability to determine the state to which a person's actions can directly affect a situation, or that they can control a result.
- Specific goal setting: Entrepreneurs should be motivated to set goals, particularly business growth objectives, which have been found to increase firm growth and performance.
- Self-efficacy: The belief in one's own ability or self-confidence.
- Need for achievement: Entrepreneurs must have a high need for achievement, taking responsibility for outcomes.
- Ambition: Entrepreneurs must be motivated, persistent, and persevere even in the face of situational challenges.
- Willingness to learn: Entrepreneurs should have a strong willingness to learn, often pursuing opportunities to acquire new skills and competencies.
- Strong initiative: Entrepreneurs must have a high initiative, often driven to work hard.
Entrepreneurial Characteristics
- Decisiveness: The ability to make decisions even without all necessary information.
- Risk-taking: The willingness to take risks in the pursuit of business goals.
- Strategic planning: The ability to think strategically, helping to achieve goals in the organization.
- Networking/collaboration: Provides access to resources, information, and support.
- Conceptual thinking: The ability to think creatively, using innovative approaches to solve problems.
- Flexibility: The ability to be highly adaptable and responsive to change.
- Interpersonal skills: The ability to work well with people from different backgrounds.
- Positive values: The ability to create confidence in making business decisions, guided by a positive sense of values and personal beliefs.
- Competitive advantage: The strategic position and ability to differentiate oneself from competitors.
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Description
Test your knowledge of entrepreneurial competencies with this quiz. Learn about essential skills such as locus of control, specific goal setting, and more to succeed in starting a business.
