119673 - Quiz 2 - New Oaks College

(Indicate if this statement is true or false)

When you consider your strengths and weaknesses as an entrepreneur, you need to consider the money in your bank account as well.

Select the correct answer to complete the statement below:

The most important factor for success or failure in a small business is ….

Match the characteristic of a successful entrepreneur with its definition.

To keep going even when the going gets tough; able to try different ways of overcoming obstacles; to make personal sacrifices or put great effort into completing a job. Exercise patience until a task has been completed and a goal has been reached.
To have the courage to take well thought-out risks when necessary.
People-skills – the ability to communicate effectively and to persuade and motivate others; to be able to build up a network of people to assist with achieving objectives.
Refers to a person’s ability to think creatively. Innovative ability refers more to the use of creative abilities to create something concrete.

Match the strategy to its definition.

Buying and selling trade / exchange and retail.
Requiring specific knowledge, using technical terms.
One’s own strategies (plans). Designed to be used by one person only
Who takes charge of the affairs of a business / management of affairs of the business in a certain way? / Decision-making control and authority.

119673 – Quiz 2