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MNE2601 - Introduction to Entrepreneurship and Small business management Exam Bank Solution Manual $7.99   Add to cart

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MNE2601 - Introduction to Entrepreneurship and Small business management Exam Bank Solution Manual

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  • MNE2601 - Introduction To Entrepreneurship

MNE2601 - Introduction to Entrepreneurship and Small business management Exam Bank Solution Manual Opportunity - Answers An idea that is attractive, durable and timely and is anchored in a product or service that creates and adds value for the end user Entrepreneurship - Answers The emergence an...

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  • October 24, 2024
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  • MNE2601 - Introduction to Entrepreneurship
  • MNE2601 - Introduction to Entrepreneurship
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MNE2601 - Introduction to Entrepreneurship and Small business management Exam Bank Solution
Manual

Opportunity - Answers An idea that is attractive, durable and timely and is anchored in a product or
service that creates and adds value for the end user

Entrepreneurship - Answers The emergence and growth of a new business

Entrepreneurial Success factors - Answers - Passion

- Locus of Control

- Need for Independence

- Need for Achievement

- Risk taking and uncertainty

- Creativity and innovation

- Leadership

- Good human relations

- Positive Attitude

- Determination and persistence

- Persistent problem solving

- Commitment

Managerial Success factors - Answers - Planning

- Knowledge of competitors

- Mainly market oriented

- Client service

- High-quality work

- Financial insight and management

- Business knowledge and skills

- The use of experts

Push factors

, (A necessity: an entrepreneur starts a business

because there is no other alternative.) - Answers - Unemployment

- Job insecurity

- Career limitations

- Not fitting in with the organisation

- Limitation of financial rewards in a conventional job

- No other alternatives

Pull factors

(An opportunity: an entrepreneur starts a

business to take advantage of an opportunity

to work for himself or herself and to make

more money.) - Answers - Independence

- Achievement

- Recognition

- Personal development

- Personal wealth

Essential skills needed for an entrepreneur - Answers - Passion for the business

- Tenacity despite failure

- Confidence

- Self-determination

- Management of risk

- Seeing changes as opportunities

- Tolerance of ambiguity

- Initiative and need for achievement

- Detail orientation and perfectionism

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