A1 assessment 1

Which two of these are roles of an entrepreneur?

• Creating and setting up a business

• Expanding a business

• Being determined

• Highly motivated

Intrapreneurship is innovation within a business.

• True

• False

What could be a barrier to entrepreneurship?

• Lack of finance

• A business qualification

• Recruitment of staff

Identify a common reason to start up a business

• To make money

• To get up late

• To finish early

Helping others could be a reason to set up a business

• True

• False

Identify 2 personal skills that are needed to run a successful business

• Confidence

• Good communication

• Ability to recruit

• Ability to expand the business

What does the 'S' in SMART stand for?

• Safe

• Specific

• Solid

What does the 'R' stand for in SMART?

• Real

• Relevant

• Right

The objective of all businesses is to make a profit?

• True

• False

Profit satisficing is to maximise profits fully?

• True

• False