Lesson 1 : Introduction to Entrepreneurship
Entrepreneurship Fundamentals Quiz
Test your knowledge in the fascinating world of entrepreneurship! This quiz covers fundamental concepts, the importance of entrepreneurial skills, and competencies necessary for success in business.
Are you ready to explore key areas including:
- Concepts of Entrepreneurship
- Importance of Entrepreneurial Education
- Essential Competencies for Entrepreneurs
(CONCEPT) The science of converting processed ideas into a remarkable business venture. ; Capacity for innovation, investment, and expansion in new markets, products and techniques
Entrepreneur
Entrepreneurship
Enterprise
Entrepreneurial
(CONCEPT) A business or company; Project that is especially difficult, complicated or risky.
Entrepreneur
Entrepreneurship
Enterprise
Entrepreneurial
(CONCEPT) A person that is responsible for setting up a business or an enterprise.
Entrepreneur
Entrepreneurship
Enterprise
Entrepreneurial
(IMPORTANCE) It focuses on wealth and a high majority of jobs created by small businesses started by entrepreneurially minded individuals.
Entrepreneurship as a key driver to our economy
Entrepreneurship is a lifelong learning process
Entrepreneurship will energize school management
Entrepreneurship will transform learners to be innovators
(IMPORTANCE) Students discover and develop opportunities and take advantage of these.
Entrepreneurship as a key driver to our economy
Entrepreneurship is a lifelong learning process
Entrepreneurship will energize school management
Entrepreneurship will transform learners to be innovators
(IMPORTANCE) Learners must be equipped with perseverance and determination of an entrepreneurial mindset
Entrepreneurship as a key driver to our economy
Entrepreneurship is a lifelong learning process
Entrepreneurship will energize school management
Entrepreneurship will transform learners to be innovators
(IMPORTANCE) Schools in the area of entrepreneurship must be accessible, affordable and accountable for producing successful students
Entrepreneurship as a key driver to our economy
Entrepreneurship is a lifelong learning process
Entrepreneurship will energize school management
Entrepreneurship will transform learners to be innovators
The capability, capacity and ability of the learner in handling situations in various areas in business operations.
Entrepreneurship
Control
Capabilities
Competency
(E.COMPETENCY) Should be motivated to set goals, particularly business growth objectives.
Locus of Control
Specific Goal Settings
Self Efficacy
Need for Achievement
Layers of Competency
(E.COMPETENCY) State to which a person agrees that their actions can directly affect a situation or that they can control a result.
Locus of Control
Specific Goal Settings
Self Efficacy
Need for Achievement
Layers of Competency
(E.COMPETENCY) Will persevere even in the face of setbacks, will take negative feedback more positively and use feedback to improve their performances.
Locus of Control
Specific Goal Settings
Self Efficacy
Need for Achievement
Layers of Competency
(E.COMPETENCY) Must have a high need for achievement and take responsibility for outcomes.
Locus of Control
Specific Goal Settings
Self Efficacy
Need for Achievement
Layers of Competency
(E.COMPETENCY) Universal competencies occupying the bottom portion of the pyramid. Specific competencies located near to the top
Locus of Control
Specific Goal Settings
Self Efficacy
Need for Achievement
Layers of Competency
(E.COMPETENCY) Must be motivated, persistent, and persevere even in the face of situational challenges, While achieving to exceed set expectations and standards.
Ambition
Willingness to Learn
Strong Initiative
Adaptability and Flexibility
Willingness to take risks
Interpersonal skills
(E.COMPETENCY) Very insightful with regards to the behavior of others understanding motives and actions
Ambition
Willingness to Learn
Strong Initiative
Adaptability and Flexibility
Willingness to take risks
Interpersonal skills
(E.COMPETENCY) Highly flexible and adaptable often deal very well with a unique ability to choose actions even without all necessary information.
Ambition
Willingness to Learn
Strong Initiative
Adaptability and Flexibility
Willingness to take risks
Interpersonal skills
(E.COMPETENCY) Must be willing to take consequences, they can also identify and calculate risk.
Ambition
Willingness to Learn
Strong Initiative
Adaptability and Flexibility
Willingness to take risks
Interpersonal skills
(E.COMPETENCY) Frequently work independently to achieve tasks faster
Ambition
Willingness to Learn
Strong Initiative
Adaptability and Flexibility
Willingness to take risks
Interpersonal skills
(E.COMPETENCY) Pursue opportunities to acquire new skills and Competencies.
Ambition
Willingness to Learn
Strong Initiative
Adaptability and Flexibility
Willingness to take risks
Interpersonal skills
(I.W COMPETENCY) Networking/Collaboration
Ability to build professional relationships.
Can analyze problems and creative innovative solutions.
Plan and prioritize work to ensure time is managed effectively.
Ability to maintain confidential records, easily locate and complete appropriate forms
Must be specific about the direction of their venture and the strategy they will adopt.
Must understand the basic principles of business
(I.W COMPETENCY) Business Principles
Ability to build professional relationships.
Can analyze problems and creative innovative solutions.
Plan and prioritize work to ensure time is managed effectively.
Ability to maintain confidential records, easily locate and complete appropriate forms
Must be specific about the direction of their venture and the strategy they will adopt.
Must understand the basic principles of business
(I.W COMPETENCY) Creative/Critical Thinking
Ability to build professional relationships.
Can analyze problems and creative innovative solutions.
Plan and prioritize work to ensure time is managed effectively.
Ability to maintain confidential records, easily locate and complete appropriate forms
Must be specific about the direction of their venture and the strategy they will adopt.
Must understand the basic principles of business
(I.W COMPETENCY) Organizing
Ability to build professional relationships.
Can analyze problems and creative innovative solutions.
Plan and prioritize work to ensure time is managed effectively.
Ability to maintain confidential records, easily locate and complete appropriate forms
Must be specific about the direction of their venture and the strategy they will adopt.
Must understand the basic principles of business
(I.W COMPETENCY) Checking, Examining & Recording
Ability to build professional relationships.
Can analyze problems and creative innovative solutions.
Plan and prioritize work to ensure time is managed effectively.
Ability to maintain confidential records, easily locate and complete appropriate forms
Must be specific about the direction of their venture and the strategy they will adopt.
Must understand the basic principles of business
(I.W COMPETENCY) Planning
Ability to build professional relationships.
Can analyze problems and creative innovative solutions.
Plan and prioritize work to ensure time is managed effectively.
Ability to maintain confidential records, easily locate and complete appropriate forms
Must be specific about the direction of their venture and the strategy they will adopt.
Must understand the basic principles of business
(I.W COMPETENCY) Innovation & Creation
Must be competent in the use of basic computer hardware and software.
The application of knowledge, skills, attitudes, values and behaviors in the workplace.
Entrepreneurs typically offer incentive compensation, manage business operations
Apply their creativity to the formulation of inventive systems and products.
Competent in both executing strategies that promote their products and establish client/customer relationships.
(I.W COMPETENCY) High Growth, High Value Entrepreneurship
Must be competent in the use of basic computer hardware and software.
The application of knowledge, skills, attitudes, values and behaviors in the workplace.
Entrepreneurs typically offer incentive compensation, manage business operations
Apply their creativity to the formulation of inventive systems and products.
Competent in both executing strategies that promote their products and establish client/customer relationships.
(I.W COMPETENCY) Workplace Competencies
Must be competent in the use of basic computer hardware and software.
The application of knowledge, skills, attitudes, values and behaviors in the workplace.
Entrepreneurs typically offer incentive compensation, manage business operations
Apply their creativity to the formulation of inventive systems and products.
Competent in both executing strategies that promote their products and establish client/customer relationships.
(I.W COMPETENCY) Computer Competency
Must be competent in the use of basic computer hardware and software.
The application of knowledge, skills, attitudes, values and behaviors in the workplace.
Entrepreneurs typically offer incentive compensation, manage business operations
Apply their creativity to the formulation of inventive systems and products.
Competent in both executing strategies that promote their products and establish client/customer relationships.
(I.W COMPETENCY) Marketing
Must be competent in the use of basic computer hardware and software.
The application of knowledge, skills, attitudes, values and behaviors in the workplace.
Entrepreneurs typically offer incentive compensation, manage business operations
Apply their creativity to the formulation of inventive systems and products.
Competent in both executing strategies that promote their products and establish client/customer relationships.
(I.W COMPETENCY) Business Operations
Scheduling manpower and maintaining inventories of goods and managing human capabilities.
Can handle risk management and can take into account legal actions.
Competent at accounting and funds management managing cash flows
They can generate, evaluate, and implement solutions to difficult problems.
(I.W COMPETENCY) Problem solving & Decision making
Scheduling manpower and maintaining inventories of goods and managing human capabilities.
Can handle risk management and can take into account legal actions.
Competent at accounting and funds management managing cash flows
They can generate, evaluate, and implement solutions to difficult problems.
(I.W COMPETENCY) Risk Assessment & Management
Scheduling manpower and maintaining inventories of goods and managing human capabilities.
Can handle risk management and can take into account legal actions.
Competent at accounting and funds management managing cash flows
They can generate, evaluate, and implement solutions to difficult problems.
(I.W COMPETENCY) Financial Management
Scheduling manpower and maintaining inventories of goods and managing human capabilities.
Can handle risk management and can take into account legal actions.
Competent at accounting and funds management managing cash flows
They can generate, evaluate, and implement solutions to difficult problems.
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