Skills Flashcards

Which negotiation technique involves making the first offer to anchor the discussion?

Answer: Anchoring

Anchoring sets the reference point for negotiation by making the first offer, which disproportionately influences the final outcome.

An entrepreneur who quickly adapts strategy after receiving unexpected market feedback is demonstrating which skill?

Answer: Cognitive flexibility

Cognitive flexibility is the ability to shift thinking and strategy in response to new information or changing conditions.

What is the primary purpose of a SWOT analysis for an entrepreneur?

Answer: To assess internal strengths/weaknesses and external opportunities/threats

A SWOT analysis helps entrepreneurs understand both their internal capabilities and external environment to inform strategic decisions.

Which skill involves reading emotional cues, managing relationships, and influencing others effectively?

Answer: Emotional intelligence

Emotional intelligence (EQ) enables entrepreneurs to navigate interpersonal dynamics, build teams, and inspire stakeholders.

A founder who breaks a complex product launch into daily tasks with deadlines is applying which skill?

Answer: Project management

Project management skills involve planning, scheduling, and coordinating tasks to deliver outcomes on time and within scope.

What does 'active listening' primarily help an entrepreneur achieve during customer interviews?

Answer: Deeper understanding of customer pain points

Active listening during customer interviews helps entrepreneurs uncover genuine needs and validate assumptions before building.

Which skill helps an entrepreneur evaluate whether to pursue a new market opportunity based on data and logic?

Answer: Critical thinking

Critical thinking allows entrepreneurs to objectively analyze data, weigh evidence, and make sound strategic decisions about new opportunities.