Entrepreneurship and Common Competencies Quiz

Self-Efficacy = Must believe in their ability Ambition = Must have motivation and persistence Willingness to learn = Should have a strong willingness to acquire new knowledge and skill Adaptability and Flexibility = Manage change well and generate new actions

Integrity = Positive sense of values and personal belief Conceptual thinking = Open to new approaches and analyze ideas that may enhance work Risk taking = Anticipates future conflicts but knows how to solve problems that may arise Collaboration = Knows how to work with people or group to attain common goals

Entrepreneurship as missionary = Consider a business as a mission Strategic thinking = As a way to accomplish goals in relevance to aims and objectives Commercial aptitude = Should be updated with the development in the locality and with knowledge to identify opportunities Decisiveness = Should know how to make choices and resolve issues quickly

<p>Customer relations service = Know how to build trust and long term relationship with customers People-centered = Know how to motivate people and see and value the best in others Common Entrepreneurial Competencies = Specific goal setting: set goals that are specific, measurable, attainable, realistic, and time-bound Competencies for Entrepreneurial Success = Optimism: always think positively even when faced with unexpected problems</p> Signup and view all the answers

<p>ENTREP entrepreneur = A person who creates unique ideas that will be useful for starting a business. Entrepreneurship = The science of converting processed ideas into a remarkable business venture. Competencies = Considered as the capability, capacity, and ability of a person to handle situations in various areas in business operations. Core competencies = Features or characteristics that allow a business to stand out from its competitors</p> Signup and view all the answers

<p>Need for achievement = Must have a high desire to accomplish goals Willigness to take risks = Know how to solve problems that may arise Interpersonal skill = Should have strong skills in working with people</p> Signup and view all the answers

<p>Entrepreneur as goal driven = Achieve the maximum result of efforts by working towards clear and measurable targets Entrepreneur as a marketing man = Focuses on the process of acquiring and retaining customers Entrepreneurs initiative = Ability to convert ideas into action Development of administrative machinery = Structure development based on operational needs</p> Signup and view all the answers

<p>Entrepreneur start small to big = Many entrepreneurs start small scale businesses but with managerial talent Organizations of capital resources with entrepreneur savings = Starts operation of business using own savings and resources Development of entrepreneurial autonomy = Leads all actions in the business organization based on calculated risks involved Development of swot analysis = Analyzing strengths, weaknesses, opportunities, and threats for business growth</p> Signup and view all the answers

<p>Passion rather than drive = Characteristic of some individuals who are passionate about entrepreneurship Initiative of entrepreneur = Involves converting innovative ideas into actionable plans Management development = Creating a structured framework based on operational requirements Risk calculation by entrepreneur = Understanding and calculating risks involved in business decisions</p> Signup and view all the answers

<p>Acquiring and retaining customers = Primary focus of marketing strategies for entrepreneurs Clear and measurable targets = Goals that drive entrepreneurs towards achieving maximum results Starting small scale businesses = Common practice among many entrepreneurs to begin with small ventures Need-based structure development = Creating organizational structures based on operational needs</p> Signup and view all the answers

<p>Maximum result of efforts = Achieving goals efficiently through focused efforts Conversion of ideas into action = Turning innovative concepts into practical implementations Direction based on calculated risks = Leading business actions in the most suitable direction by assessing risks Focus on customer acquisition and retention = Prioritizing strategies for acquiring and maintaining customer base</p> Signup and view all the answers