Innovation and Entrepreneurship

It is very important for a business to set the right goals. What is the technique that can be used?

(a)  

Must be easily identified as a number, and can be measured in dollars, time, quantity, etc.

(a)  

Goals must be challenging, but doable.

(a)  

Goals must be clear and easy to understand. The goal should say exactly what will be

achieved and when it will be achieved.

(a)  

The goal is something that the business should be aiming to achieve.

(a)  

A realistic time by which the goal should be achieved.

(a)  

Someone who takes on the risk of starting their own business.

(a)  

All business started are successful.

• True

• False

What do most entrepreneurs risk losing when starting a business?

• happiness

• money

• time

• effort

Which is not a characteristic of a successful entrepreneur?

• strong work ethic

• unwillingness to take calculated risks

• understanding of finances

• passion for the business they are in