TEC Assessment 5 Answers
Long Term Orientation
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TEC Exam Questions and Answers:Long Term Orientation
1. Q10. A knowledgeable cook opened a South- Indian Restaurant in Chennai. But the business was not running smoothly and later on he had to close it. What went wrong?
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He did not have technical knowledge
They were too many competitors and he was not creative in the menu to attract customers.
Both A and B
2. What are the characteristics or traits of a successful entrepreneur? Select the best option.
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Risk – Taker.
Goal – Oriented
Thrive on uncertainty.
3. Entrepreneurs don’t let uncertainty and potential failure stop them from doing what needs to be done. Which trait is being discussed here?
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Communication Skills
Strong Technical Knowledge
Creativity
4. A successful tailor wanted to try something new. So, he opened a street food restaurant in his area. But his restaurant did not run properly and eventually he had to close it down. Why? Please select the best option.
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He was not a risk taker
He was not a goal-oriented.
He did not have prior knowledge of how to run a restaurant.
5. Why is it important to have prior knowledge or relatable expertise to become a successful entrepreneur?
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Prior knowledge contributes to expectation formation
Helps to make decisions like whether to invest in the idea or not.
Prior knowledge does not help much, it is not required to become a successful entrepreneur.
6. Entrepreneurs are always looking for new ways of doing things and how they can make them better. Which trait is being discussed here?
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Optimistic Nature
Consistency
Creativity
7. Q4. Entrepreneurs effectively sell their product or service to clients and customers. Which trait is being discussed here?
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Optimistic Nature
Goal Oriented
Communication Skills
8. What is not a characteristics/trait of a successful entrepreneur?
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Good communication skills
To have strong technical knowledge
Quits halfway when the situation becomes difficult.
9. ___________ is the ability to evaluate, assimilate and exploit knowledge.
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Additive Capacity
Assimilative Capacity
Absorptive Capacity
10. Absorptive Capacity comes from prior, related knowledge to be able to make sense of, recognize the value of, and use new information.
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TRUE
FALSE
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