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12 Questions

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Entrepreneurship Basics

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Questions and Answers

What is the primary characteristic of entrepreneurship that allows entrepreneurs to shape their business according to their vision?

Innovation and Creativity

Persistence and Determination

Risk-taking and Resilience

Independence (correct)

What do entrepreneurs need to effectively manage to maximize their chances of success?

Networking and Relationship Building

Resource Management (correct)

Risk-taking and Resilience

Vision and Opportunity

What do entrepreneurs demonstrate in the face of challenges?

Adaptability and Flexibility

Innovation and Creativity

Resilience (correct)

Persistence and Determination

What is the primary reason entrepreneurs build a strong network of contacts, partners, and mentors?

To gain support and access resources Signup and view all the answers

What is the key characteristic of entrepreneurship that enables entrepreneurs to differentiate themselves from others?

Innovation and Creativity Signup and view all the answers

What do entrepreneurs need to overcome obstacles and stay committed to their long-term goals?

Persistence and Determination Signup and view all the answers

What is a key characteristic of entrepreneurs in terms of risk-taking?

Taking calculated risks to achieve business goals Signup and view all the answers

What is one of the advantages of entrepreneurship in terms of personal fulfillment?

Pursuing a passion and turning it into a livelihood Signup and view all the answers

Why is flexibility and adaptability important for entrepreneurs?

To adapt to changing market conditions and consumer demands Signup and view all the answers

What is one of the benefits of entrepreneurship in terms of job creation?

Hiring employees to support and grow the business Signup and view all the answers

What is a key trait of successful entrepreneurs in terms of learning?

Constantly seeking knowledge and skills to stay ahead Signup and view all the answers

What is one of the risks of entrepreneurship in terms of workload?

Facing long working hours and juggling multiple responsibilities Signup and view all the answers