Tag: elements of success in business and qualities of a successful businessman

Questions Related to elements of success in business and qualities of a successful businessman

Which of the following can be treated as trait of entrepreneur?

business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

  1. He is a moderate risk taker

  2. He is innovative

  3. He peruses the deviant pursuits

  4. All of above

Show answer
Correct Option: D
Explanation:

To be an Entrepreneur is a challenge in itself. It needs to have some important characteristics to be a successful entrepreneur. The traits are:-

1. Risk Taker
2. Innovator.
3. Motivator.
4. Capital provider
5. profit maker
6.Challenge Taker.
These are the common characteristic  a person needs to have to be an entrepreneur.

"What a man can be, he must be. This need we call self actualization." This said by

business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

  1. Maslow

  2. Hilaire Belloc

  3. Schumpeter

  4. Peter Drucker

Show answer
Correct Option: A
Explanation:

Abraham Maslow said "What a man can be, he must be.

Which category of Rajat Gupta falls in?

business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

  1. Inventor

  2. Intrapreneur

  3. Entrepreneur

  4. Manager

Show answer
Correct Option: B

Which of the following is not a type of entrepreneur?

business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

  1. Sustainer

  2. Explorer

  3. Improver

  4. Fireball

Show answer
Correct Option: B

What did Leibenstein thought about entrepreneur indicate?

business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

  1. He is a innovator

  2. He is a gap-filler

  3. He is a person of no ordinary skill

  4. He improved the production.

Show answer
Correct Option: B

In your text various classification of entrepreneur are given except ________.

business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

  1. improver entrepreneur

  2. advisor entrepreneur

  3. classic entrepreneur

  4. ingglus entrepreneur

Show answer
Correct Option: B

Active scanning involves the ____ of continuous resources and, from time to time, supplementing them with existing resources as needed.

business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

  1. conscious selection

  2. subconscious selection

  3. analysis of threats to the business

  4. none of the above

Show answer
Correct Option: A
Explanation:

In active scanning the information resources scanned are specifically selected for their known or expected richness in the desired information. A dimension of scanning concerns the time element of the information source being scanned. Active scanning involves the conscious selection of continuous resources and from time to time supplementing them with existing resources as needed.

The resistance of employees in an organization against flexibility, growth, and diversification can be overcome by developing _________.

business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

  1. administrative domain

  2. managerial domain

  3. intrapreneurship

  4. entrepreneurship

Show answer
Correct Option: C
Explanation:

Intrapreneurship is like acting as an entrepreneur within the organization. Intrapreneurship is a step towards entrepreneurship. It focuses on self motivation and resolving a specific issues which ultimately helps in achieving the major goals. It focuses on minor goals and hence helps to achieve the entrepreneurship goals in long run.

Superstar type of entrepreneur is lead by  __________.

business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

  1. charisma

  2. charm

  3. high energy

  4. all of above

Show answer
Correct Option: D
Explanation:

Superstar type of entrepreneur is lead by high energy levels, charisma and charm. The business of the company revolves around the charisma and show of high level energy and charm.

" An entrepreneur could be a manager but a manager cannot be an entrepreneur".

business organisation and correspondence elements of success in business and qualities of a successful businessman meaning of entrepreneur entrepreneurship – concept, meaning and definition values and qualities of a businessman

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

An entrepreneur could act as a manager. He posses leadership skills who manages the business he started. But a manager cannot be an entrepreneur because he does not assumes any risk.