Quiz

True or False: Getting organized and strategic quickly means that you are able to keep your focus on your business growth, rather than reacting to things around you and potentially missing out on some opportunities.

True
False

Select the correct answer: The definition of Sole Proprietorship:

An individual established and runs a business where they make all business decisions, and are responsible for providing a product or service(s)
Two or more people decide to work together and share the profits as well as the risks associated with running their company

Select the correct answer: The characteristics of a business owners:

You must be able to admit when you make a mistake, and then learn from it
It's important that you can listen to the advice of others, and then sort the good from the not so good
You must be able to create a plan and take action on it
You must be able to tolerate risk. There are plenty of risks attached to each type of business

True or False: A business owner is the boss within a clearly defined business

True
False

True or False: An entrepreneur is usually seen as taking on greater risks than typical owner

True
False

True or False: In large companies, there can be several layers of supervisors, managers, directors, and vice presidents, in something which mirrors military hierarchy

True
False

Select the correct answers: Operational functions include:

Marketing
Organising
Directing
Controlling

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