Entrepreneurial Goal Setting

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Questions and Answers

What does an entrepreneur need to do in order to deal with frustrations and failures?

  • Learn from them (correct)
  • Avoid them
  • Blame others
  • Ignore them

Which of the following traits is important for an entrepreneur to have in order to set long-term goals and make extensive preparations?

  • Copes with Failure
  • Responds to Feedback
  • Persistence
  • Goal-Oriented (correct)

Which trait is important for an entrepreneur to be able to handle differences in opinion and judgment?

  • Persistence (correct)
  • Copes with Failure
  • Responds to Feedback
  • Goal-Oriented

What should an entrepreneur do in order to obtain useful feedback and advice?

<p>Avoid feedback (B)</p> Signup and view all the answers

What should an entrepreneur be concerned about in order to track their performance?

<p>Open to Feedback (B)</p> Signup and view all the answers

Which term refers to the needs for products and services in the market?

<p>Market demand (B)</p> Signup and view all the answers

Who can be the potential users or buyers of products and services in the market?

<p>People or institutions (C)</p> Signup and view all the answers

When is there a good business opportunity?

<p>When there is no supply to meet market demand (D)</p> Signup and view all the answers

What can be a good source of ideas for a business?

<p>All of the above (D)</p> Signup and view all the answers

How can a business utilize available raw materials to start a venture?

<p>By processing and manufacturing them into finished products (D)</p> Signup and view all the answers

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