CHAPTER 2

Question 1

refer to the important characteristics that should be possessed by an individual in order to perform entrepreneurial functions effectively

Answer 1

entrepreneurial competencies

Question 2

habitually working diligently for a long period of time

Answer 2

hardworking

Question 3

they exhibit this in order to cope with all the risks of operating their own business

Answer 3

self-confidence

Question 4

successful entrepreneurs always stick on the plan and fight the temptation to do what is unimportant

Answer 4

discipline

Question 5

accepts full responsibility of everything in his/her business

Answer 5

committed

Question 6

change occurs frequently. you should cope and thrive on chanes

Answer 6

ability to accept change

Question 7

this shall become the bread and butter for you and your family

Answer 7

profit-oriented

Question 8

develops and applies step-by-step plans to realize goals

Answer 8

planning

Question 9

effective and efficient communication and relation to people working in and out of your business

Answer 9

people skills

Question 10

ability to think quickly and to make a wise decision towards pre-determined set objectives

Answer 10

decision-making