Business Studies

Entrepreneurship Development

Easy

"Eliciting the support of others in the venture". This statement is related to which entrepreneurial competency?

Persuasion

Self confidence

Assertiveness

Use of influence strategies

✅ Correct Option: 1

Option 1 -> Persuasion involves convincing others to support your ideas, venture, or business initiatives through effective communication and reasoning.

Option 2 -> Self confidence relates to believing in one's own abilities and judgment, not specifically about gaining others' support.

Option 3 -> Assertiveness is about expressing one's views firmly and standing ground, rather than actively seeking support from others.

Option 4 -> Use of influence strategies is broader and involves various tactics to affect others' decisions, but is not specifically focused on eliciting support.

Hence, Option 1: Persuasion -> Persuasion is the entrepreneurial competency that directly involves eliciting or gaining support from others for the venture by convincing them of the value and potential of the business idea -> correct

2025: 14 May Shift 2

Identify the internal factor that motivates a person to become an entrepreneur.

2025: 21 May Shift 1

Choose the correct order in the process of setting up a business.

Scanning the environment for entrepreneurial opportunities
Assessment of feasibility of the idea and preparation of a business plan
Development of product/service
Appraisal by the funding agencies

Choose the correct answer from the options given below:

2025: 15 May Shift 2

Which of the following is not a competency of an entrepreneur?

2023: 11 June Shift 3

It refers to the behaviour choices an individual makes for success in entrepreneurship.

2023: 29 May Shift 2

A. Salary is not a primary economic reward for an entrepreneur

B. A 'never say die' attitude of an entrepreneur is termed as self-confidence.

C. Acting out of choice rather than compulsion is initiative

D. Entrepreneur's concern for conservation of time and money is termed as 'assertiveness'

E. Executive summary and operation strategies are included in Business Plan

Choose the correct answer from the option given below:

2025: 3 June Shift 1

Identify the concept of entrepreneurial motivation that implies a desire to accomplish something difficult.

"Eliciting the support of others in the venture". This statement is related to which entrepreneurial competency?

Solution

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