Entrepreneurship Skills 2

Question 1

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

Accepted Answer

Anchoring

Answer

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

Question 2

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

Accepted Answer

Cognitive flexibility

Answer

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

Question 3

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

Accepted Answer

To assess internal strengths/weaknesses and external opportunities/threats

Answer

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

Question 4

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

Accepted Answer

Emotional intelligence

Answer

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

Question 5

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

Accepted Answer

Project management

Answer

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

Entrepreneurship Practice Test