Entrepreneurship -Concepts and Functions

The function involves making appointments for the positions created by the organisational process.

• Planning

• Coordination

• Directing

• Staffing

It is decision making in advance: what to do, when to do, how to do and who will do a particular task

• Organising

• Planning

• Directing

• Controlling

A commercial function concerned with the movement of goods and services from the producer to the ultimate consumer.

• Accounting

• Financing

• Marketing

• Production

Entrepreneurs are ____________ for nation.

• Liability

• Burden

• Life Line

• None of the above

Entrepreneurs provide _________ benefit by providing goods/services, raising living standard and job opportunity.

• Personal Benefit

• Social Benefit

• None of the above

It is the process of identifying opportunities in the market place and marshalling the resources required to pursue the opportunities for long term gains.

• Entrepreneur

• Entrepreneurship

• Enterprise

• None of the above

Which is NOT a common characteristic of an entrepreneur?

• risk-taker
• creative
• organized
• irresponsible

An entrepreneur is someone who works for themselves.

• True
• False

Most entrepreneurs work long hours, but they create their own schedule.

• True
• False

Which type of business does this image represent? 

• Wholesale
• Retail
• Service
• Manufacturing