VCE Business Management 1D

Being a successful entrepreneur or manager requires a specific set of skills and qualities

• Yes

• No

Being innovative is a key characteristic to be a successful entrepreneur

• Yes

• No

Determination is a characteristic of both successful entrepreneurs and managers.

• Yes

• No

Identify which of the following correctly describes how communication helps a manager achieve success. (Select all that apply)

• Employees will understand what is required of them.

• The manager will be able to form better relationships with employees.

• Employees will achieve greater support and perform their roles better as the manager responds to feedback

A manager that is able to adapt to changes easily has the skill of:

• Resourcefulness

• Flexibility

• Innovation

A manager may struggle to succeed in the long term if they are not ethical.

• Yes

• No

Luke may find it difficult to enter an already established market.

• True

• False

Luke needs to be willing to take calculated risks to break through an already established market.

• True

• False

Because there are already many established beverage products available, Luke does not have to be innovative.

• True

• False

Identify which of the following statements correctly describes the case study. (Select all that apply)

• A.S Motors has experienced poor performance from selling petrol cars.

• Hamish was appointed CEO to help improve the financial performance of the business.

• Hamish was appointed CEO to help the business improve the performance of their petrol cars