1.1 Part 1 quiz

Select the criteria of the definition of an entrepreneur from the list below (Select all that apply)

• They undertake a business activity

• They are creative

• They take on risks

• They sell products and services

• They aim to make a profit

Select the entrepreneurial characteristic(s) from the list below (Select all that apply)

• Creative

• Organised

• Persistent

• Passionate

• Leadership

Select the entrepreneurial skill(s) from the list below (Select all that apply)

• Independence

• Self-confidence

• Planning

• Integrity

Select the entrepreneurial skill that Stephen likely needs in the scenario below.

"Stephen is the owner of a business named Education Perfecto. The business provides an app for various learning areas and Stephen is working alongside colleagues to add new updates to it. "

• Communication

• Ambitious

• Initiative

• Stickability

Chanelle Bond, the owner of Bondie, tries to come up with innovative cupcake products to keep their range "fresh" and "new". Select the skill(s) and/or characteristic(s) that would assist in this process (Select all that apply)

• Organisation

• Creativity

• Teamwork

• Decision-making

• Ambitious

Select whether the following describes an aim or an objective: "A statement of a specific outcome that the business would like to achieve."

• Aim

• Objective

Select which of the following is important because it gives employees purpose, direction, and potentially motivation in their work.

• Objective

• Aim

• Putake/Mission statement

Given the pandemic and poor global financial climate, select the aim that might be an appropriate goal for Bondie Cupcakes.

• To grow the business

• To survive a recession

• Providing a valuable service

• Providing a lifestyle

Fill in the blank:

A business is said to be successful if it is fulfilling its __________

Select the option that describes how a business can know that it is fulfilling or moving towards fulfilling its purpose.

• The business is achieving its objectives

• The business is making a profit

• The business has a high return on investment (ROI)

• The owner has a large salary

• The business provides excellent customer service