Edexcel A Level Business 1.5 Entrepreneurs and Leaders

What is the primary role of an entrepreneur in a business?

• To manage the financial accounts

• To create and set up a business

• To maintain employee records

• To conduct market research

What does it mean for an entrepreneur to engage in innovation within a business?

• To replicate existing business models

• To develop new products or improve processes

• To reduce employee numbers

• To focus solely on marketing

Which of the following is considered a barrier to entrepreneurship?

• Supportive government policies

• High startup costs

• Access to funding

• Market demand

How do entrepreneurs typically anticipate risk in the business environment?

• By avoiding all uncertainties

• By conducting market research and analyzing data

• By relying solely on intuition

• By reducing business activities

Which term refers to an employee acting like an entrepreneur within a larger company?

• Freelancer

• Intrapreneur

• Manager

• Executive

Which characteristic is commonly associated with successful entrepreneurs?

• Risk aversion

• Dependability on others

• Resilience

• A preference for routine

What is a financial motive for setting up a business?

• Gaining personal fulfillment

• Profit maximization

• Contributing to community welfare

• Pursuing hobbies

What is an example of a non-financial motive for entrepreneurship?

• Increasing market share

• Seeking independence

• Reducing costs

• Expanding product lines

Which of the following is a characteristic of social entrepreneurship?

• Solely focusing on profit

• Ignoring social issues

• Addressing social problems through business solutions

• Avoiding ethical considerations

Which skill is essential for entrepreneurs when starting a business?

• Advanced accounting skills

• Public speaking

• Leadership and decision-making

• Exclusive technical knowledge