Answers
BSM1501 Oct Nov 2017 Exam Questions and Answers
- Course
- Institution
BSM1501 Oct Nov 2017 Exam Questions and Answers
[Show more]
4 reviews
By: eladej • 4 year ago
By: livhuwani703 • 4 year ago
By: wilsongerald101 • 4 year ago
By: ronnieborman • 4 year ago
Seller
Follow
aj107
Reviews received
Content preview
Business Management 1ABSM1501
,
,
, 2. a, b, c
Characteristics that are important to ensure the success of an entrepreneur
• Perseverance – entrepreneur must have confidence in themselves and their
business and carry on inspite of setbacks, difficult situations and problems
• Commitment to the business – entrepreneur dedicate their skills, expertise and
resources to establishing and building the business. They prove commitment by:
• Using their own money to establish the business
• Taking a mortgage on a house
• Working long hours
• Accepting a lower standard of living and possibly earning little or no income from the
business until it is successful
• Involvement in the business- they are involved in the business and are aware of
everything that is happening on all levels and in all sections of the business.
• Willingness to take risks – entrepreneurs takes calculated risks. Thos means that the
risk related to a business opportunity must not be too great, for then the chance of
success is not in the hands of the entrepreneurs. They are not gamblers. The level of
risk must not be too low. Entrepreneurs usually try to reduce the risk by finding
investors to provide finance ,making arrangements with suppliers ton provide goods
on consignment or persuading suppliers to accept special terms ,and so forth.
• Sound human relations – entrepreneurs work closely with other people: they realize
they cannot be successful in isolation and therefore motivate their employees. They
not know only how to build contacts and long term relationships.
• Creativity and innovation –
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller aj107. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.77. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53022 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now