Entrepreneurship: definition and characteristics

A network gives support and new opportunities to an enterprise. Exam tip: link relationships with business growth.

Not following legal rules reduces business safety and trust. Exam tip: consider compliance necessary.

Starting work by stepping forward oneself is initiative. Exam tip: link initiative with beginning an enterprise.

Data and opinion together strengthen the decision. Exam tip: remember evidence-based decision.

Reducing quality can reduce trust in the long term. Exam tip: understand the difference between quick profit and trust.

Learning new technology keeps an enterprise suited to changing times. Exam tip: link learning with adaptation.

Repeatedly delivering customer orders late indicates weak time management because planning, prioritising, or meeting deadlines is not being handled effectively. Option A shows deadline compliance, while C and D are useful time-management practices. Exam tip: In time-management questions, repeated delays, unfinished tasks, and missed deadlines usually indicate poor management.

Meeting a community need is a social benefit, while creating jobs is an economic benefit. Therefore, the correct answer is social and economic benefit. “Only personal profit” is incomplete because the question refers to both social welfare and employment generation. Exam tip: If an enterprise improves public welfare and creates income or jobs, identify it as a socio-economic benefit.

Removing safety rules is risky for both customers and workers. Exam tip: keep safety above cost.

Perseverance helps try again with improvement after failure. Exam tip: link perseverance with learning.

Product uniqueness may attract customers, but inconsistent or poor quality disappoints them and can weaken trust in the brand. It may also reduce repeat purchases and positive word-of-mouth. Option B is a close distractor because customer satisfaction depends on maintaining quality, not on uniqueness alone. Exam tip: remember that uniqueness must be supported by quality and customer satisfaction.

Entrepreneurship can promote production and employment. Exam tip: remember its relation with economic development.

Training improves both entrepreneurial ability and service. Exam tip: link training with improvement.

Transparency increases customer trust. Exam tip: connect truthful information with business ethics.

Low price alone is not enough, service is also necessary. Exam tip: check price and service together.

Goals and result measurement clarify enterprise direction. Exam tip: remember goals and review together.

Useful improvement after observing competition is practical innovation. Exam tip: check competition and innovation together.

Giving importance to safety and quality is social responsibility. Exam tip: link social responsibility with ethics.

Regular review helps an entrepreneur identify weaknesses, customer feedback, and opportunities to improve the service. Therefore, it strengthens the quality of continuous improvement. Irregularity and customer neglect are the opposite of systematic review. Exam tip: associate regular review, feedback, and corrective changes with continuous improvement.

Resourcefulness is better use of available means. Exam tip: remember limited resources and creativity.