Checkpoint 2

What is an action plan?

• The introduction of a new way of doing things.

• Goods or services that satisfy the needs and wants of customers.

• A document that gives step-by-step details about what needs to be done.

• Money that a business uses to produce goods or services.

What is stage 8 (final stage) of an action plan?

• Achieve the goal or finish the project

• Implement the plan

• Decide who is responsible for each action

• Review and update the plan as each action is completed

Khalid owns a popular burger restaurant. However, he noticed that customers stopped buying from his business, because they like to place food orders online. He does not know how to use the internet or how to use a computer. Identify the reason why the business might fail.

• Unclear objectives

• Poor financial management

• Poor choice of location

• Lack of skills

Saif is an entrepreneur. He is often late for meetings and does not meet deadlines for customers. Which skill does Saif need to improve?

• Time management

• Interpersonal skills

• Risk management

• Decision-making

What is a risk of starting a business?

• Setting goals

• Helping people

• Making money

• Losing money

Zainab is an entrepreneur. She always speaks clearly and listens carefully to other people. Which skill is Zainab's best skill?

• Time management

• Planning

• Communication

• Risk management

Ahmed knows that a business can be a success or failure. He is not afraid of things going wrong. Which characteristic of an entrepreneur is this an example of?

• Creativity

• Independence

• Self-motivation

• Risk-taking

What is an entrepreneur?

• A person who sets up and runs their own business

• The introduction of a new idea or way of doing things

• A business or the act of setting up a business

• Goods or services that satisfy the needs and wants of customers

Anoud is good at using her imagination and can think of new ideas for products easily. She can spot a business opportunity and can think of a way to make it successful. Which characteristic of an entrepreneur is this an example of?

• Creativity

• Independence

• Confidence

• Risk-taking

What is the importance of setting clear objectives in a business?

• It helps in risk management

• It improves time management

• It enhances communication

• It provides a direction for the business