ENTREPRENEURIAL BEHAVIOR AND COMPETENCIES

Name:

Year & Section:

• BSOA 3A

Which of the following best describes an entrepreneur?

• a. A manager of an existing business
• b. A risk-taker who starts and runs a business
• c. A financial analyst who assesses the viability of a business idea
• d. An employee who works for a startup company

Which stage in the entrepreneurial process involves identifying and acquiring necessary resources for a new venture?

• a. Discovery
• b. Concept development
• c. Resourcing
• d. Actualization

What is the purpose of a feasibility study?

• a. To evaluate the potential success of a business idea
• b. To develop a marketing strategy
• c. To raise funds from investors
• d. To hire employees for a new business

What is a business plan?

• a. A detailed proposal describing a business idea
• b. A financial statement for an existing business
• c. A report on market trends in a particular industry
• d. An analysis of customer behavior and preferences

Which of the following is a potential risk associated with starting a new business?

• a. A stable customer base
• b. Low startup costs
• c. Limited competition
• d. Market saturation

What is a pitch deck?

• a. A visual presentation outlining a business idea or startup
• b. A financial statement for an existing business
• c. A report on market trends in a particular industry
• d. An analysis of customer behavior and preferences

Why is market research important for a new business?

• a. To generate buzz and excitement around the new business
• b. To raise funds from investors
• c. To understand customer needs and preferences
• d. To develop a marketing strategy

What is a potential benefit of starting a new business?

• a. Stable employment with a guaranteed salary
• b. Limited responsibility and decision-making authority
• c. Financial independence and creative freedom
• d. Low risk of failure