ConceptConceptDocsDocuments

IB Business Management SL 1.1.3 Entrepreneurship Question Bank

Practise IB Business Management SL 1.1.3 by identifying entrepreneur characteristics, motivations and the role of intrapreneurship.

Syllabus
First assessment 2024
Course
Business management SL
Level
SL

Exam points

  • Identify characteristics such as initiative, calculated risk-taking and persistence in an entrepreneur.
  • Explain why an individual may start a business using the case-study evidence provided.
  • Describe how intrapreneurship can create innovation within an established organisation.

1.1.3—Entrepreneurship question 1

[Maximum number: 2]

Make-Up (MU)
Lana Lane is an image coach and plans to open Make-Up (MU), a shop where she can sell her own brand of beauty products. Because Lana is a female entrepreneur, her local government will pay 50 % of the rent for the space in which M U will operate.
Lana has forecasted the following figures for M U for the first six months of operation, beginning on 1 July 2023 (see Table 1). The opening balance will be $0\$0.

Table 1: Figures for the first six months of operation, beginning on 1 July 2023

Table 1: Figures for the first six months of operation, beginning on 1 July 2023

Lana has learned that a new competitor with lower prices will enter the market before the end of 2023.

State two characteristics of an entrepreneur.

All question bank results loaded