Skills for Entrepreneurship

Question 1

Financial Management

Answer 1

strategic planning, organizing, directing, and controlling of financial undertakings.

Question 2

Marketing

Answer 2

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Question 3

Sale

Answer 3

sale refers to any transactions where money or value is exchanged for the ownership of a product or entitlement of a service.

Question 4

Customer service

Answer 4

the support you offer your customers — both before and after they buy and use your products or services — that helps them have an easy, enjoyable experience with your brand.

Question 5

Communication

Answer 5

Business communication is the process of sharing information between people or entities

Question 6

Negotiation

Answer 6

A process where two or more parties with different needs and goals discuss an issue to find a mutually acceptable solution

Question 7

Leadership

Answer 7

the capacity of a person to model standard behavior, set and achieve goals, take fast and decisive action when needed, and inspire others to perform at the highest level they can.

Question 8

Project management

Answer 8

The application of processes, methods, skills, knowledge and experience to achieve specific project objectives.

Question 9

Delegation

Answer 9

Delegation refers to the transfer of responsibility for specific tasks from one person to another. From a leaders perspective, delegation occurs when a leader assigns specific tasks to their team members to accomplish

Question 10

Problem solving

Answer 10

Problem solving in business relates to establishing processes that mitigate or remove obstacles currently preventing you from reaching strategic goals. These are typically complex issues that create a gap between actual results and your desired outcome.

Question 11

Networking

Answer 11

An active strategy used by professionals to widen their circles of acquaintances, find out about job opportunities, and increase their awareness of news and trends in their fields. Business owners may network to develop relationships with people and companies they may do business with in the future.