A Level Biz - Marketing and people (1.5)

What is the first stage in setting up a business?

• Research

• Having an idea

• Find a source of finance

• Launch

What is the last stage in setting up a business?

• Market research

• Source finance

• Deciding a location

• Launch

Which one of the following is not a functional business activity carried out by an entrepreneur:

• Financial management

• Administration

• Remortgaging

• Managing people

____ are employees usually in larger businesses.

• Entrepreneurs

• Intrapreneurs

• Stakeholders

• Shareholders

Which of the following is a barrier to entrepreneurship?

• Fear of success

• Lack of legal barriers (red tape)

• Multitude of ideas

• Lack of entrepreneurial capacity

An entrepreneur needs to be able to anticipate ____

• risk and uncertainty

• weather conditions

• what happened in the previous accounting period

• what competitors did recently

A successful entrepreneur is likely to have which characteristic?

• Risk averse

• Self confidence

• Self doubt

• Defeatist

Successful entrepreneurs take ___ in difficult situations.

• short cuts

• the innovation

• little responsibility

• the initiative

People set up their own business for financial & _____

• cash based motives

• lucrative motives

• profitable motives

• non financial motives

Some people set up their own business to support ___

• the secondary sector

• the local banking sector

• a moral belief they possess.

• their competitors