Module 1 Session 4

Question 1

_____is typically used to refer to the act of producing new ideas, approaches or actions, while ______is the process of both generating and applying such creative ideas in some specific context.

Answer 1

creativity, innovation

Question 2

Identify the phase of entrepreneurial process

the entrepreneur has to actively search for information to get ideas.

Answer 2

First Phase

Question 3

Identify the phase of entrepreneurial process

the entrepreneur has to organize equipment, funding, and establish the production process.

Answer 3

Second Phase

Question 4

Identify the phase of entrepreneurial process

the entrepreneur has to manage customers, employees and plan the development of the business.

Answer 4

Third Phase

Question 5

The entrepreneur has to show _______ to initiate all the essential actions and steps to successfully start and run a business.

Answer 5

Personal Initiative

Question 6

The entrepreneur is the only person in a business without a supervisor and therefore the entrepreneur has to set goals and define tasks without being told. For the entrepreneur, there are no explicit instructions, assigned tasks or specified role requirements.

Answer 6

Personal Initiative

Question 7

The entrepreneur becomes active and remains active until the goal is achieved.

Answer 7

Personal Initiative

Question 8

THE ASPECTS OF PERSONAL INITIATIVE

Answer 8

Being Self- Starting
Being Proactive
Being Persistent

Question 9

Identify the specific aspect of personal initiative

implies that an entrepreneurs starts doing something without being told.

Answer 9

Being Self- Starting

Question 10

Identify the specific aspect of personal initiative

the entrepreneur sets goals he or she would like to achieve and starts the action necessary to achieve the goal

Answer 10

Being Self- Starting

Question 11

Identify the specific aspect of personal initiative

another important in this context is the level of the goal set by the entrepreneur. Self- starting goals are not the obvious paths that everybody is taking but they are qualitatively different. Self-set goals imply that an entrepreneur does something different, unusual or something that goes “beyond”. This means that an entrepreneur does not copy from competitors but goes the extra mile and pursues a goal that leads to something new or innovative

Answer 11

Being Self- Starting

Question 12

_____ is to have a long-term focus.

Answer 12

Proactivity

Question 13

Identify the specific aspect of personal initiative

A long-term focus allows anticipating future problems or opportunities. With a long-term focus, and individual can prepare for those problems or opportunities and do something proactively about them.

Answer 13

Being Proactive

Question 14

Identify the specific aspect of personal initiative

An entrepreneur who is _____ anticipates the future and does not wait until he or she can only react environmental challenges.
In that way, a _____ entrepreneur can deal with threats immediately or exploit opportunities when they arise.

Answer 14

proactive

Question 15

Identify the specific aspect of personal initiative

Implies that an entrepreneur does not give up when facing obstacles or problems but finds other ways to achieve the goal.

These problems or obstacles can have many reasons: technical problems, resistance, other people’s inertia, lack of resources, or regulations.

The important thing is that an entrepreneur accepts that things usually do not work out perfectly from the very beginning and that the entrepreneur overcomes the setbacks.

Answer 15

Being Persistent

Question 16

Identify the specific aspect of personal initiative

Overcoming setbacks and barriers can take different forms: either trying again the same approach when dealing with a problem, trying out a new approach, or finding a completely different way to solve the problem.

Answer 16

Being Persistent

Question 17

Identify the specific aspect of personal initiative

implies that the entrepreneur sets goals on his own and that these goals go beyond the usual goals.

Answer 17

Being Self- Starting

Question 18

The four general actions steps to accomplish a task are to:

Answer 18

1. Set a goal to define what the entrepreneur wants to achieve;
2. Collect information to orient and to carry out informed actions;
3. Plan which actions to take, to define sub-goals that are essential to achieve the actual goal, and to eventually execute the planned actions; and
4. Get feedback and to monitor whether the actions led to goal achievement.