Uploaded by Julie Ann Daligcon

entrep exams

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TEST II
1. Motivation

You are by nature motivated. You put in long hours to get your ventures
off of the ground and invest everything you have to pursue your dreams
2. Passion

You tend to be more driven by a passion for your offering as well as by
a desire to make a difference
3. Vision

You have a clear vision as to what you want to achieve, how you can
accomplish your objectives, and whom you need on your side to reach your
goals
4. Confidence

You are confident both in yourself and in the products or services you
sell.
5. Decision Making

You not only have good decision-making skills but also have the capacity
to make those decisions quickly in order to avoid missing opportunities
TEST III
1

Entrepreneurs are frequently driven by a desire to be regarded as a global authority in a certain
industry. An important internal driver for the innovator is the urge to engage with and share
their subject matter, which frequently frustrates privacy-obsessed VCs.

Entrepreneurs use organizational abilities like planning, organizing, and controlling to fill holes in
the market economy. Small firms are essential to entrepreneurship's ability to contribute to the
economy in terms of employment, innovations, competition, and social and political stability.
2
3
There are a number of advantages to owning a small business. These pros
typically include:
1. Community impact
As a small business owner, the level of impact that you can have on
yourself, your family, your friends and others in your community may
increase. In this role, you can typically make an impact on people's lives
through sponsoring community events. Many small businesses also
contribute to the local economy by generating revenue that partly goes
back into the community.
2. Self-reporting
As a small business owner, you're accountable to yourself and report to
yourself. You can make your own decisions based on what you'd like to pay
yourself, what type of work you want to do, who you'd like to work with,
what you want to pay staff and other business choices. With this level of
independence, you may also have an added level of confidence in yourself
and in your business.
3. Equity
Owning a small business means that you have equity, or the amount of
something that you yourself own, in something. In the future, you may
decide to keep this equity, sell it or pass it on to future generations
for others to continue the business. If you decide to sell the equity,
you may use that money to launch a new business venture or for other
endeavors. Alternatively, if you pass it on to others, you might set them
up for a successful financial future, and if you keep it, you can continue
to manage or help run the business.
4. Prestige
Being a small business owner can also provide you with a level of prestige.
In this role, you report to yourself and have your own company and staff,
which many find impressive. Having this added level of prestige can also
help build your self-confidence.
5. Self-esteem
Small business owners have the opportunity to launch and maintain a small
and successful business. Doing this can increase your level of selfesteem and self-worth. You might even inspire others to have the
confidence to start their own small businesses of their choice.
The benefits of the small business you are able to set up business for better access to lending
facilities as small business quickly obtains loans. Another is the use of innovations, as it is easier
to integrate the same into the operation of a small company. Improved economic prospects make
people confident about investing in themselves and their small businesses. Accessibility to
services and business tools has allowed her to set up a business. Others provide personal loyalty,
tailored customer experience, and ease of flexibility under shifting circumstances.
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