Scribd
Upload
210 views3 pages

TEF Test

Uploaded by

ThankGod
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
210 views3 pages

TEF Test

Uploaded by

ThankGod
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 3

An elevator pitch should always be delivered _______

the options are verbally, physically, virtually and substantively

ANSWER

The correct answer is: verbally.

An elevator pitch is typically delivered verbally, either in person or virtually, to quickly convey key information about
your business or idea.

You said:

which of these traits is not necessary for an entrepreneur? Options are firmness, tenacity, consistency and
independence

ANSWER

The trait that is not necessarily required for an entrepreneur is independence.

While independence can be valuable, entrepreneurship often involves collaboration, teamwork, and reliance on
others—whether that's employees, partners, or mentors. The other traits—firmness, tenacity, and consistency—are
generally essential for overcoming challenges, staying focused, and achieving long-term success in business.

You said:

all the following must be considered in building a marketing plan except? options are product, place, promotion and
event

ANSWER

The correct answer is: event.

While "product," "place," and "promotion" are key components of a marketing plan (often referred to as the "4 Ps"
of marketing), event is not typically one of the core elements. An event might be part of a promotional strategy or a
specific marketing campaign, but it is not a fundamental component of the overall marketing plan.

You said:

what two elements of change often go hand in hand and are among the most difficult to change? options are
elemental and strategic change, structural and political change, structural and cultural change, economic and policy
change

ANSWER

The correct answer is: structural and cultural change.

Structural and cultural changes often go hand in hand because they both affect the core of an organization.
Structural change refers to altering the way an organization is organized, such as its hierarchy, processes, or systems.
Cultural change refers to shifts in the values, behaviors, and norms of the people within the organization. These two
elements are deeply interconnected, and implementing both can be particularly challenging because they require
not only changes in systems but also a shift in mindset and behavior across the organization.
You said:

Trinkles Enterprise won the award for the highest increase in revenue in 2021 by collecting, analyzing, and reporting
marketing information to solve problems. Based on this, what was their competitive advantage? options are
innovation research, marketing research, targeting strategy and competitor analysis

ANSWER

The correct answer is: marketing research.

Trinkles Enterprise's competitive advantage came from marketing research, as they were collecting, analyzing, and
reporting marketing information to solve problems. Marketing research involves gathering data about markets,
customer preferences, and trends, which helps a business make informed decisions to drive growth and revenue.
This is exactly what helped them achieve the highest increase in revenue in 2021.

You said:

in the marketing mix, which variable deals with all distribution and location aspects of a product, including how and
where the products are made available to consumers? options are price, promotion, place and product

ANSWER

The correct answer is: place.

In the marketing mix, place refers to all aspects related to distribution and location of a product. This includes how
and where the product is made available to consumers, whether through retail outlets, online platforms, or direct
sales channels. It focuses on ensuring that the product is in the right place at the right time for customers to access it
easily.

You said:

Ben is a leader of his team. this is evident in his qualities such as; being committed, trustworthy, decisive, and
creative. He is also respectful and loves to micromanage his team members. Diarra thinks Ben isn't doing something
right in his qualities. What is it? options are trust worthiness, micromanaging, creativity and committment

ANSWER

The correct answer is: micromanaging.

Diarra likely thinks Ben isn't doing something right in his qualities because micromanaging is generally seen as a
negative trait in leadership. While commitment, trustworthiness, creativity, and decisiveness are all positive qualities
of a leader, micromanaging can undermine team autonomy, reduce trust, and demotivate team members. Effective
leaders typically empower their teams rather than controlling every small detail.

You said:

elevator pitch means introducing your company quickly and __? Options are conclusively, competitively,
compellingly and conciously
ANSWER

The correct answer is: compellingly.

An elevator pitch is meant to introduce your company quickly and compellingly. The goal is to grab the listener's
attention, spark their interest, and leave a lasting impression, all within a short span of time (typically 30-60
seconds). It should be clear, concise, and persuasive.

You said:

which of the following forms part of the components of a balance sheet? Options are difference between creditors
and debtors, expenses, income, gains and losses

ANSWER

The correct answer is: difference between creditors and debtors.

The difference between creditors and debtors is part of the balance sheet because it reflects the company's current
liabilities (creditors) and current assets (debtors or accounts receivable). These are key elements that help calculate
a company's working capital.

The other options (expenses, income, gains, and losses) are part of the income statement, not the balance sheet.
The balance sheet focuses on the company's assets, liabilities, and equity at a specific point in time.

You said:

all of the following definitions cover aspects of entrepreneurship except one. Options are creation process,
investment of time & process, reward, talent

ANSWER

The correct answer is: talent.

While talent can certainly help an entrepreneur succeed, it is not typically considered a core aspect or definition of
entrepreneurship itself. The other options—creation process, investment of time & process, and reward—are
directly tied to the concept of entrepreneurship.

Entrepreneurship involves the creation of new businesses, investing time and resources, and seeking rewards (such
as profit or personal satisfaction). Talent, while important, is more of an individual characteristic rather than a
fundamental aspect of entrepreneurship.

You might also like