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WorksheetsBusiness Management & Entrepreneurship
Total questions: 13
Worksheet time: 7mins
Pick all the relevant resources below:
Natural resources
General management.
Human resources
Capital
Entrepreneurship
Pick all the relevant needs applicable to customers. (Maslow's Hierarchy of Needs)
Social Needs
Physiological Needs
Safety
Self-esteem
Self-realisation.
What are the main Economic Systems?
Marketing Management.
Financial Management.
General Management.
Market Economy.
Command Economy.
Socialism.
Business organisations
Government organisation
Non-profit seeking organisations (NPO)
What are the 4 Traits of an Entrepreneur?
Love.
Care.
Interest.
Intensity.
Strategic skills.
Planning skills.
Marketing skills.
Financial skills.
Achievement motivation.
Internal locus of control.
Innovation & creativity.
Risk-taking.
There are 2 types of entrepreneurs. The 1 type becomes an entrepreneur due to external circumstances forcing her/him to start a business out of necessity. What is this type of entrepreneur?
(a)
Name the Form of Ownership: "A contractual relationship between 2/ more persons who operate lawfully to make a profit".
Partnership.
Company.
Trust
Closed corporation.
Name the Form of Ownership: "Characteristics of both a partnership & company. Members both own and control the company."
Trust.
Cooperative.
Closed corporation.
NPO.
Why is it important to develop a Business Plan?
So that stakeholders think the organisation is credible.
It assists with customer feedback for the organisation.
It directs, guides, & helps implement the vision & mission of the organisation.
The organisation is forced to do so.
Pick the 3 business environments from the list below.
The economic environment.
The micro-environment.
The macro-environment.
The political environment.
The Market environment
Why do organisations conduct a SWOT Analysis?
To create awareness towards the company's value.
To allow employees to understand the own skills.
To create a new avenue of operation.
To analyse the internal and external environments that the organisation operates in.
What is the value of Porter's 5 Forces?
To assess the nature & intensity of competition.
To determine if an entrepreneur leads correctly.
It assists in the analysis of the macro-environment.
It assists in the analysis of the micro-environment.
What is the primary purpose of a Mission Statement?
To provide a detailed marketing strategy.
To define the company's purpose and values.
To outline the company's financial goals.
To list the company's products and services.
What is the significance of conducting Market Research?
To develop new products without any feedback.
To increase the company's profit margins.
To understand customer needs and preferences.
To reduce the number of employees.
