MNE202V FEEDBACK ON ASSIGNMENT 01 02 2SEm 2010 Eng final.11[1]

MNE202V FEEDBACK ON ASSIGNMENT 01 02 2SEm 2010 Eng final.11[1]

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MNE202V/201/3/2010 3 FEEDBACK ON ASSIGNMENT 01 Question 1 The correct answer is 3. See page 15 in the prescribed book. Entrepreneurial success factors include the following: creativity and innovation; risk orientation; leadership; good human relations; a positive attitude; perseverance and commitment. Knowledge of competitors and work of a high quality are managerial success factors. Question 2 The correct answer is 4. See page 31 in the prescribed book. Pull factors in entrepreneurship are independence, achievement, recognition, personal development and personal wealth. Unemployment and job insecurity are push factors in entrepreneurship. Question 3 The correct answer is 3. See pages 11 to 12 in the prescribed book. Factors that encourage an entrepreneurial orientation include culture, education, work experience, personal orientation and family and role models. Question 4 The correct answer is 2. See page 30 in the prescribed book. When a person has a high need for achievement, he or she is highly motivated to excel. . Question 5 The correct answer is 3. See page 9 in the prescribed book. Option c is incorrect. Jack is not an entrepreneur, but only managing his uncle’s restaurant. Option d is also incorrect. Peter is working as an employee at a soccer match. Question 6 The correct answer is 2. See page 10 in the prescribed book. The following characteristics distinguish an entrepreneurial venture from a small business: innovation the potential for growth strategic objectives UNISA
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2 Question 7 The correct answer is 2. See page 28 in the prescribed book. Subsistence entrepreneurs are inexperienced in business management and require general support and training in technical and management skills in order to operate a business successfully. Question 8 The correct answer is 4. See page 30 in the prescribed book. The need for achievement describes an entrepreneur as someone who is driven internally by a strong desire to compete against self-imposed standards and pursue and attain challenging goals. Question 9 The correct answer is 2. See page 84 in the prescribed book. The following actions are required by an entrepreneur when “opening the window of opportunity”: Start the business activity. Obtain the commitment of the venture’s stakeholders. Question 10 The correct answer is 3. See page 99 in the prescribed book. When developing a business plan to attract shareholders, the emphasis should be on the strategy to achieve profit and growth projections. Question 11 The correct answer is 2. See page 53 in the prescribed book. At the incubation stage of the creative process, an individual can seek answers or solutions to the problems. Question 12
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MNE202V FEEDBACK ON ASSIGNMENT 01 02 2SEm 2010 Eng final.11[1]

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