Lesson 2.1

Question 1

Features or Characteristics that allow a business to stand out from it’s cmpetitors

Answer 1

Core Competencies

Question 2

Core Competencies of an Entrepreneur:

-considers the business a mission, there is passion

Answer 2

Entrepreneur as a missionary

Question 3

Core Competencies of an Entrepreneur:

-works towards clear and measurable targets to achieve maximum results

Answer 3

Entrepreneurs as goal driven

Question 4

Core Competencies of an Entrepreneur:

-aquire and retain customers

-must design the product, set it’s price, distribute the product to the market and promote

Answer 4

Entrepreneur as a marketing man

Question 5

Factors that develop Entrepreneurial Activity:

–ability of entrepreneurs to convert ideas into actions, plan and manage projects with creativity, innovation and risk-taking in order to achieve goals

Answer 5

Entrepreneurs initiative

Question 6

Factors that develop Entrepreneurial Activity:

-management will develop a structure based on the need of operations

Answer 6

Organization of administrative machinery

Question 7

Factors that develop Entrepreneurial Activity:

-human resources and financials

Answer 7

Organization of capital resources

Question 8

Factors that develop Entrepreneurial Activity:

-develops autonomy as he leads the activities

Answer 8

Development of entrepreneurial autonomy

Question 9

Factors that develop Entrepreneurial Activity:

-strengths and weaknesses are internal elements, while opportunities and threats are external elements

Answer 9

Development of SWOT analysis