TLE 10 Q1, M2, Entrepreneurial Competencies Quiz

What is the significance of evaluating PECs of a successful entrepreneur?

• To avoid starting a business

• To memorize characteristics of entrepreneurs

• To understand personal strengths and weaknesses

• To compare with classmates

What does it mean to be hardworking as an entrepreneur?

• Working only when necessary

• Working diligently for a long period of time

• Working without improving performance

• Working without a plan

What is an important skill for a successful entrepreneur related to people?

• Excellent Planner

• Possesses People Skills

• Profit-Oriented

• Sound Decision Maker

Why is it important for an entrepreneur to be creative?

• To copy competitors

• To stay in business and have an edge over competitors

• To reduce income

• To avoid changes

What should an entrepreneur do to cope with changes?

• Complain about changes

• Ignore changes

• Avoid changes

• Thrive on changes

What is an essential characteristic of a successful entrepreneur?

• Laziness

• Avoiding change

• Confidence in one's ability

• Avoiding responsibility

Why is it important for an entrepreneur to be profit-oriented?

• To avoid making money

• To generate income for the business and family

• To work for free

• To donate profits

What is an important trait for an entrepreneur in terms of decision making?

• Making wise decisions towards set objectives

• Making decisions based on emotions

• Avoiding decisions

• Making random decisions

How does an action plan help an entrepreneur?

• It hinders progress

• It sustains strong PECs and addresses development areas

• It creates confusion

• It avoids planning

What should an entrepreneur do to address development areas?

• Avoid working on weaknesses

• Create a plan of action

• Seek help from competitors

• Ignore them