Management Levels and Entrepreneurship Quiz

The General Manager operates at ______ Management level

Functional Managers are known as the ______ Management

Supervisors operate at the ______ level management

An entrepreneur combines the three factors of production: capital, labour, and ______

The entrepreneur sees an opportunity in the market and assumes the ______ of starting a new business

An intrapreneur is often known as an 'inside ______'

An entrepreneur needs to take ______ to reap rewards.

The entrepreneur has to know who the customers (LSM) are, their ______, and then be willing to develop or change the business plan to satisfy the customers' needs.

Starting a new business is hard work and takes commitment and ______.

Being different to that of a competitor (differentiation strategy) may lead to a successful ______.

The ability to prepare and to implement a plan to achieve goals is very important. But the entrepreneur must be realistic and ______ by developing a contingency plan to manage potential risks.

Without leadership qualities, the entrepreneur is not likely to achieve ______. He/she must have the ability to convince and motivate others to buy into the plan and follow him/her to achieve the desired goals.