Without developing a core competency, a company may be highly profitable.

Select one:
a. Only for a short period
b. Long term
c. No correct answer
d. Occasionally

Question 2
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Helps in growing branches of different businesses and then these businesses grow products
as fruit.

Select one:
a. Choosing that product or service
b. No correct answer
c. Core competency trunk
d. Long-term competitive advantage

Question 3
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Customers understand problems, but they cannot help you to move your product forward.

Select one:
a. Focusing only on revenue
b. All of the answers correct
c. Focusing only on innovation and the competition.
d. Focusing only on customers

Question 4
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Entrepreneurs are the persons who take decisions under uncertainty and thus they are
willing to take risk, but they never gamble with the results.

Select one:
a. Need to achieve
b. Risk bearing
c. No correct answer
d. Locus of control

Question 5
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People in your target market who are not currently looking for a solution.

Select one:
a. Target market users
b. Market Segment
c. Long-term competitive advantage
d. Strategic Mindset

Question 6
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Your skill at this is critical to your success.

Select one:
a. Existing Customers
b. Target market users
c. No correct answer
d. Customer

Question 7
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As an organization, they developed products that are rich in design and user experience.

Select one:
a. Netflix
b. Canon
c. Apple
d. NEC

Question 8
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Question text

The interaction with competitors is usually directly

Select one:
a. Friendly
b. Antagonistic
c. Hostile
d. Pleasant

Question 9
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When teaching the entrepreneurial side, which one should you focus on?

Select one:
a. Literature to persuasive advertising
b. All of the answers are correct
c. History to innovation
d. Math to business

Question 10
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Successful entrepreneurs always have the profit margin in sight and know that their
business success is measured by profits.

Select one:
a. An eye for opportunity
b. Business Plan
c. Focus on profits
d. Opportunity Recognizers

Question 11
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Truly think outside the box, stretch the limits, and are combinatorial in non-traditional ways.

Select one:
a. All of the answers correct
b. Need to achieve
c. An eye for opportunity
d. Opportunity Recognizers

Question 12
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Fill in the blanks.

Your target market should be measurable, sufficiently large andAnswer .

Question 13
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Enables you to concentrate on and solve your target market's problems.

Select one:
a. No correct answer
b. Silent need
c. Outside-in approach
d. Stated need

Question 14
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Entrepreneurs most likely have a keen sense of what type of person is needed to fulfill a
position.

Select one:
a. Sales
b. Teacher
c. Business Reporter
d. Recruiter

Question 15
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Question text

This is not essential, but is normally a great help in thinking through the case for a new
business.

Select one:
a. A formal business plan
b. No correct answer
c. A market research
d. Both of the given choices are correct

Question 16
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His definition of entrepreneurship placed an emphasis on innovation.

Select one:
a. Joseph Schumpeter
b. J.B. Say
c. Rotte MacClellan
d. M. M. P. AKhouri

Question 17
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Entrepreneurs believe in their own ability to control the consequences of their endeavor by
influencing their socio-economic environment rather than leave everything to luck.
Select one:
a. Self-confidence
b. Risk bearing
c. Need to achieve
d. Locus of control

Question 18
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To succeed as an entrepreneur, you must develop the ability to select and offer the right
products or services to your customers.

Select one:
a. In a competitive market
b. All of the answers correct
c. In any market available
d. In the right market

Question 19
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Which of these questions will help you analyze the product or service from the customer's
point of view?

Select one:
a. Can you see yourself selling this product or service for the next five to 10 years?
b. Is there a real demand for the product at the price you will have to charge?
c. What does the product achieve, avoid or preserve for the customer?
d. Who is going to sell the product?

Question 20
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Their core competency is said to be content delivery, but they are now venturing into
original content creation too.

Select one:
a. Apple
b. NEC
c. Netflix
d. Canon

Question 21
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Fill in the blanks.

Answer The desire for status, enhanced appearance and more money are
examples of this variable.

Question 22
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What is/are the thing/s you need to know before you can sell to a potential customer?

Select one:
a. All of the answers correct
b. Who the customer's current supplier is
c. If the customer is happy with their current supplier
d. If buying from you would you offer the customer any benefits

Question 23
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Fill in the blanks.

Answer A profile for a business would include such factors as customer size,
number of employees, type of products, and annual revenue.
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A certain amount of risk is involved in all entrepreneurial ventures, and growth is no

Question 25
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Customer classification depending on profitability.

Select one:
a. Profit tiers
b. Marketing Cost
c. Distribution cost
d. Product Concept

Question 26
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Critical to determining attractiveness.

Select one:
a. Ability
b. Risks
c. Growth
d. Duration

Question 27
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There are those people in society whose ultimate goal is to go into business at some
defined point life no matter how attractive wage employment might seem.

Select one:
a. Inability to secure a desirable job
b. Need to improve personal income
c. To fulfill a life-long ambition
d. Love for adventure

Question 28
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Fill in the blanks.

Answer Typically, anonymous and try to reach as many members of a target

Question 29
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People who have already purchased your product.

Select one:
a. Customers
b. Both of the given choices are correct
c. No correct answer
d. Existing Customers

Question 30
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How many new businesses fail within 18 months of getting started?

Select one:
a. Three
b. Five
c. Three out of five
d. Thirty-five

Question 31
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If you know what makes them tick, you can serve them in the way they prefer.

Select one:
a. What makes them feel good about buying
b. What they think about you
c. What they think about your competitors
d. What they expect of you

Question 32
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Which of these is a factor to consider before going into self-employment?

Select one:
a. All of the answers correct
b. Raw Materials
c. Legal Issues
d. Business Idea

Question 33
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Entrepreneurs have strong desire to achieve higher goals.

Select one:
a. All of the answers correct
b. Silent needs
c. Need to achieve
d. An eye for opportunity

Question 34
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Besides the inability to secure any type of employment this is the most basic reason for self-
employment.

Select one:
a. To fulfill a life-long ambition
b. Need to improve personal income
c. Love for adventure
d. Inability to secure a desirable job

Question 35
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If your customers enjoy dealing with you, they are likely to buy more. In addition, you can
only tackle problems that customers have if you know what they are.

Select one:
a. What makes them feel good about buying
b. What they think about your competitors
c. What they think about you
d. What they expect of you
Question 36
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If I had asked people what they wanted, they would have said faster horses.

Select one:
a. Jonathan Bender
b. Henry Ford
c. Michael Smith
d. J.B. Say

Question 37
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Outsourcing can give short term

Select one:
a. Competitive Advantage
b. Core Capabilities
c. Core Competency
d. Technical Capabilities

Question 38
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They may sell directly into the market but largely they need to be kept aligned to your
strategy.

Select one:
a. Competitors
b. Minor customers
c. Major customers
d. Suppliers

Question 39
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It is critical to find a balance between prospects and customers to ensure that your future
revenue is protected, while still keeping existing customers happy.

Select one:
a. Focusing only on customers
b. Focusing only on innovation and the competition.
c. Focusing only on revenue
d. All of the answers correct

Question 40
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Those who sell non-competing products and which generally help your sales.

Select one:
a. Influencers
b. Complementors
c. Substitutors
d. Competitors

Question 41
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Fill in the blanks.

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There are not enough employment opportunities in the formal sector. The small business
sector has the capacity to create many jobs.
Select one:
a. Need to improve personal income
b. To fulfill a life-long ambition
c. Love for adventure
d. Inability to secure a desirable job

Question 43
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Entrepreneurs must demonstrate this characteristic in order to cope with all the risks of
operating their own business.

Select one:
a. Risk bearing
b. Self-confidence
c. Need to achieve
d. Locus of control

Question 44
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The total cost associated with delivering goods or services to customers.

Select one:
a. All of the answers correct
b. Marketing Cost
c. Distribution cost
d. Target Market

Question 45
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It becomes difficult especially in a service environment where labor as well as time also has
a cost factor associated with it.

Select one:
a. Calculating cost per customer
b. Technical/technology capabilities
c. Research and Development
d. Opportunity Recognizers

Question 46
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Entrepreneurs are always alert to opportunities.

Select one:
a. Stated needs
b. An eye for opportunity
c. Opportunity Recognizers
d. Stability and structure

Question 47
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To make a product successful, you must be.

Select one:
a. Both of the given choices are correct
b. Either of the given choices are correct
c. Emotionally committed to its success
d. Personally committed to its success

Question 48
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Attempt to get an understanding of a specific market segment by questioning eight to 12

Select one:
a. Focus groups
b. Surveys
c. All of the answers are correct
d. Interviews

Question 49
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In Entrepreneurship, you may become stressed. Why?

Select one:
a. Both of the given choices are correct
b. You manage expansion
c. You manage cash flow
d. No correct answer

Question 50
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The most important advantage of having core competencies is having this.

Select one:
a. Core competency trunk
b. Choosing that product or service
c. Long-term competitive advantage
d. No correct answer