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Recap Zone
Ð Ð Entrepreneurship is the process of turning a dreamed-up business idea into a reality and owning it.
Ð Ð The word ‘entrepreneur’ comes from the French word ‘entrependre’ which means ‘to undertake’ or ‘to do something’.
Ð Ð A startup is defined as the initial phases of a business that can be started by an individual or a group of two or more
entrepreneurs who believe that a specific service or product is in great demand in the market.
Ð Ð A barrier is an obstacle that prevents something from happening.
Ð Ð An attitude, according to the Britannica Dictionary, is the way you feel or think about something or someone.
Ð Ð Competency is defined as the ability to complete a task successfully and efficiently.
Ð Ð The journey to understanding our competencies begins with knowing and understanding oneself, i.e., who we are.
Ð Ð Decisiveness is a person’s ability to make quick and efficient decisions.
Ð Ð Taking initiative means being able to do things without being told, to persevere when things get tough, and to recognise and
take advantage of new opportunities when others are unaware of them.
Ð Ð Interpersonal skills are the ability to communicate and interact effectively with others.
Solved Exercise
Section A
(Objective Type Questions)
A. Choose the correct option.
1. Which of the following is one of the personal barriers of an entrepreneur?
i. Inadequacy ii. Inefficiency
iii. Self-doubt iv. Self-motivation
2. Name the role of the entrepreneur that deals with determining the location, setting, and design of the premises, as well as
the installation of the machinery.
i. Setting up an enterprise ii. Managing an enterprise
iii. Resourcing iv. Feasibility study
3. ............................ is the role of the entrepreneur that deals with the estimation of the market potential of their product.
i. Feasibility study ii. Resourcing
iii. Growth and Development iv. Building strategic partnerships
4. A ............................ is defined as the initial phases of a business that can be started by an individual or a group of two or
more entrepreneurs.
i. Business ii. Feasibility study
iii. Startup iv. Infrastructure
5. ............................ is defined as the ability to complete a task successfully and efficiently.
i. Efficiency ii. Growth and development
iii. Competency iv. Inadequacy
Ans. 1. iii 2. i 3. i 4. iii 5. iii
Entrepreneurial Skills-IV 135

