RECOGNIZING THE SKILLS OF AN ENTREPRENEUR (TLE)

Question 1

TRUE OR FALSE. In business, there is no “best” set of skills. It can be a combination of different qualities and values.

Answer 1

TRUE

Question 2

What are the three main skills an entrepreneur must possess?

Answer 2

1. Interpersonal skills
2. Critical and Innovative Thinking skills
3. Practical skills

Question 3

What are the five components under interpersonal skills?

Answer 3

1. Leadership skill
2. Self-management skill
3. Social skill
4. Communication skill
5. Assertiveness

Question 4

Entrepreneurs who possess leadership skills are likely to succeed in their business, as they know how to lead and convince people without intimidation.

Answer 4

Leadership skill

Question 5

The ability to manage one’s emotions when these are not appropriate for a given situation.

Answer 5

Self-management skill

Question 6

Entrepreneurs must possess this skill for them to understand the people surrounding them.

Answer 6

Social skill

Question 7

This skill is vital as the success of an entrepreneur depends on his/her ability to communicate effectively.

Answer 7

Communication skill

Question 8

Being assertive cannot be avoided as this is one way of defending one’s ideas firmly.

Answer 8

Assertiveness

Question 9

What are the three components under critical and innovative thinking skills?

Answer 9

1. Creative thinking
2. Problem-solving
3. Opportunity seeking

Question 10

This skill is vital to create project concepts and design products and services based on the needs and demands of the prospective clients.

Answer 10

Creative thinking

Question 11

This skill must be acquired to provide appropriate and realistic solutions to problems encountered in business.

Answer 11

Problem-solving

Question 12

This skill means being able to easily observe market trends as big factors in undertaking business.

Answer 12

Opportunity seeking

Question 13

What are the three components under practical skills?

Answer 13

1. Setting goals
2. Organizing
3. Practical decision-making

Question 14

An entrepreneur must set attainable goals.

Answer 14

Setting goals

Question 15

Entrepreneurs must acquire and use the required talents, skills, and abilities needed to attain their business goals.

Answer 15

Organizing

Question 16

Entrepreneurs must be good in making wise and practical decisions, which must be based on relative information and etc.

Answer 16

Practical decision-making