Entrepreneurship Skills 3

Question 1

An entrepreneur who successfully convinces investors with a compelling company narrative is using which skill?

Accepted Answer

Storytelling

Answer

Storytelling helps entrepreneurs communicate vision, build emotional connection, and persuade investors, customers, and talent.

Question 2

Which leadership style is most effective when an entrepreneurial team has high expertise but needs motivation?

Accepted Answer

Delegative (laissez-faire)

Answer

A delegative style empowers skilled team members to take ownership, which boosts motivation and leverages their expertise.

Question 3

What skill does an entrepreneur use when identifying the root cause of a product defect rather than treating symptoms?

Accepted Answer

Root cause analysis

Answer

Root cause analysis is a problem-solving skill that traces issues back to their origin to prevent recurrence.

Question 4

A startup founder who creates a 12-month cash flow forecast is demonstrating which financial skill?

Accepted Answer

Financial planning and forecasting

Answer

Financial planning and forecasting skills allow entrepreneurs to anticipate cash needs and make proactive funding decisions.

Question 5

Which skill enables an entrepreneur to attract top talent despite limited budget by offering equity and vision?

Accepted Answer

Talent acquisition and persuasion

Answer

Persuasion and talent acquisition skills help founders compete for top candidates by selling company vision and non-cash incentives.

Entrepreneurship Practice Test