Entrepreneurship Skills

Why is having a clear vision important in a business plan?

• A clear vision is important in a business plan to provide direction, set goals, motivate employees, attract investors, and aid in decision-making.

• Having a clear vision is not important in a business plan

• Business plans do not require a clear vision to be successful

• A clear vision leads to confusion and inefficiency in a business plan

How can networking help overcome barriers to entrepreneurship?

• Networking is irrelevant in entrepreneurship

• Networking leads to increased competition

• Networking provides access to resources, mentorship, funding, partnerships, market insights, and opportunities for growth.

• Networking is time-consuming and not beneficial

Explain one barrier to entrepreneurship.

• Lack of access to capital or funding

• Abundance of resources

• High demand for products

• Lack of government regulations

What role does innovation play in entrepreneurship?

• Innovation only leads to failure in entrepreneurship

• Innovation drives the creation of new products, services, processes, and business models that can lead to competitive advantages and market success.

• Innovation is only relevant in established businesses, not startups

• Innovation has no impact on entrepreneurship

Name one type of entrepreneurship that involves offering services rather than products.

• Retail entrepreneurship

• Manufacturing entrepreneurship

• Product entrepreneurship

• Service entrepreneurship

An entrepreneur is

• a chief executive officer

• an investor

• a person that wants to start a business

• someone who creates and runs their own business

A serial entrepreneur can be defined as

• people that are assigned a serial number when starting their business

• people that break the law in business

• people who take what they learn when starting a business to start many more

• none of the above

Identify the correct sentence structure for a business pitch.

• The business pitch should be concise, clear, and engaging.

• Concise, clear, and engaging the business pitch should be.

• Engaging, the business pitch should be concise and clear.

• Clear, concise, and engaging should be the business pitch.

Choose the correct synonym for 'entrepreneurial'.

• Innovative

• Traditional

• Conventional

• Predictable

Which of the following sentences uses the word 'venture' correctly?

• She decided to venture into the world of entrepreneurship.

• The venture was too risky to consider.

• He was venture about his new business idea.

• Venture is a type of business plan.