Core Competencies in Entrepreneurship

Question 1

4 Core Competencies in Entrepreneurship

Answer 1

1. economic and dynamic activity
2. innovative
3. profit potential
4. risk bearing

Question 2

Entrepreneurship is an economic activity because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources.

Answer 2

economic and dynamic activity

Question 3

Entrepreneurs constantly look for new ideas, thus he needs to be creative

Answer 3

Innovative

Question 4

meaning the entrepreneur can be compensated by his profit coming from the operation.

Answer 4

profit potential

Question 5

meaning the entrepreneur needs to gamble but wise enough to offset the risk.

Answer 5

risk bearing