Entrepreneurship

Through entrepreneurial activities, consumers get to choose products or services best suited to their needs and budgets.

• True

• False

Entrepreneurship can be defined as the activity of setting up a business or businesses, and taking on financial risks in the hope of making profit.

• True

• False

Social entrepreneurship refers to the entrepreneurial activities carried out by state-owned enterprises.

• True

• False

Entrepreneurial activity is an important element in a nation’s economic progress by providing products, services and employment opportunities and help to raise the standard of living of the people of a country.

• True

• False

The organization’s mission is an attempt to provide meaning or answer to “why you do, what you are doing and where you are headed”.

• True

• False

Human resources management is not relevant to small business organizations

• True

• False

Organization management involves the process of organizing, planning, leading and controlling resources and activities of an organization to achieve its desired objectives.

• True

• False

Effective channels will distribute a company’s value proposition in ways that are fast, efficient and cost-effective.

• True

• False

Customer segments refer to the target people and/or organizations you are offering value proposition.

• True

• False

The value propositions may be quantitative only, e.g. price and efficiency

• True

• False