Session 3: Attitude of an Entrepreneur
Unit 4: Entrepreneurship Skills
Textual Question-Answers
Check Your Progress
A. State whether the following statements are True or False.
1. An entrepreneur reports to the boss or a manager
Ans: False
2. An employee has to adapt to the outside market environmentwhile doing the job
Ans: False
3. An entrepreneur has to always think about what the customerwants
Ans: True
4. An employee makes all the decisions by himself or herself
Ans: False
B. Subjective Questions
1. Define the meaning of attitude. Give two examples of attitude ofan entrepreneur.
Ans: Attitude is a person’s way of thinking, feeling, and behaving towardsa situation, task, or environment. Examples of an entrepreneur’s attitudeinclude:
Positive thinking: Believing that challenges can be solved, e.g., continuinga business despite initial losses.
Proactiveness: Taking initiative without waiting for others, e.g., introducing a new product before competitors do.
2. Write the key differences in attitudes between entrepreneurs andemployees. Describe with examples.
Ans: Decision-making: Entrepreneurs make all key business decisionsthemselves, e.g., choosing a new product line; employees follow instructionsfrom managers.
Risk-taking: Entrepreneurs are willing to take risks for profit, e.g., investing savings into a startup; employees usually avoid risks and focus on job security.
Customer focus: Entrepreneurs constantly adapt to customer needs, e.g., changing product features; employees perform assigned tasks regardless ofmarket changes.
