Entrep - 314

Fill in the Blank

Someone who creates and run a business is called?

Multiple Select

Choose 2 important characteristics of successful entrepreneurs

• Confidence

• Patience

• Computer Skill

• Business Minded

Multiple Select

Rewards of becoming an Entrepreneur
Choose 3

• Risk

• Making your own rules

• Creating greater wealth

• Helping your community

• Potential Business Failure

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_ is a way of viewing or thinking about something that affects how you feel about it.

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The chance of losing something?

Fill in the Blank

Evaluating your strengths and weaknesses

-

Fill in the Blank

An _ is natural ability to do a particular type of work or activity well

Fill in the Blank

A _is an ability that's learned through training and practice

Multiple Choice

Which of the following is not an economic factor?

• Labor

• Capital

• Entrepreneurship

• Idea

• Land

Multiple Select

Which of the following increases your entrepreneurial potential?
Choose 2 answers

• Business Knowledge,

  2. Financial Skills,
     Education

• Computer Skills,

  People Skills,

  Patience

• Career Exploration

  Community,
  
  Awareness,

  Relationships

• Business Idea,

  Education,

  Problem-solving Skills

Multiple Choice

Identify the following entrepreneur, according to him;
"Entrepreneur is the most important agent of production. Entrepreneur combine the land of one, the labor of another and capital of yet another and thus produce a product"

• Joseph Alois Schumpeter

• Jean-Baptiste Say

• David Ricardo

• Arthur Harrison Cole

Multiple Choice

Identify the following entrepreneur, according to him;
"An entrepreneur is an innovator, he considered economic development as discrete dynamic change."

• Joseph Alois Schumpeter

• Jean-Baptiste Say

• David Ricardo

• Arthur Harrison Cole

Fill in the Blank

Individuals who paid a fixed sum of money to a government for the license to collect taxes in their region is known as ___?

Multiple Choice

Identify the following entrepreneur, according to him;
"Profit leads to saving of wealth, which ultimately goes to capital formation and leads to economic development."

• Joseph Alois Schumpeter

• Jean-Baptiste Say

• David Ricardo

• Arthur Harrison Cole

Multiple Choice

Entrepreneurship refers to the ___

• Process

• Person

• Creator

• Job

Multiple Choice

Identify the following entrepreneur, according to him;
"Entrepreneurship involves a wide range of area on which series of decisions are required, which can be grouped into three categories: 1. perception of an opportunity 2. organizing an industrial unit 3. running the industrial unit as profitable, going and growing concern."

• Joseph Alois Schumpeter

• Jean-Baptiste Say

• David Ricardo

• Arthur Harrison Cole

• H.N Patak

Fill in the Blank

Place where entrepreneurship started

Multiple Choice

Identify the following entrepreneur, according to him;
"Entrepreneurship is the purposeful activity of an individual or a group of associated individuals undertaken to initiate, maintain or organize profit-oriented business unit for the production or distribution of economic goods and services"

• Joseph Alois Schumpeter

• Jean-Baptiste Say

• David Ricardo

• Arthur Harrison Cole

• H.N Patak

Multiple Choice

used Say's ideas as the

groundwork of his book The Theory of Economic Dynamics. He postulated that it

is not optimization and equilibrium but rather the dynamic disequilibria brought

about by the innovative entrepreneur that brings a healthy economy and is the

central reality for economic theory and practice.

• Jean-Baptiste Say

• Joseph A. Schumpter

• Frank Knight

• David Ricardo

Multiple Choice

Entrepreneur refers to a ___

• Tax contractors

• Person

• Creator

• Job

Multiple Choice

Entrepreneurship started in France after the French revolution. It was the start of

_ and the end of _.

• Capitalism & Feudalism

• Capitalism & Socialism

• Communism & Capitalism

• Feudalism & Monopolism

Multiple Choice

The word entrepreneur was coined by _ , a renowned French economist.

• Jean-Baptiste Say

• Joseph A. Schumpter

• Frank Knight

• David Ricardo

Multiple Choice

He argued that the concept of entrepreneurship, though closely tied with the

theory of economics and society, is independent of the classical and

cannot co-exist with it.

• Jean-Baptiste Say

• Joseph A. Schumpter

• Frank Knight

• David Ricardo

Multiple Choice

Entrepreneurs with _ qualities are more

likely to succeed.

• leadership

• Creative

• Open-minded

• Adventurous

Fill in the Blank

In business "GEM" stands for?

Fill in the Blank

The "PER" from De La Salle University Publishing

House shows that the Philippines has the highest societal perception of entrepreneurship among Southeast Asia countries. What does "PER" mean?

Multiple Choice

The word entrepreneur originated from the French word

entrepreneur, which means _.

• To undertake

• To manage

• To develop

• To initiate

Multiple Choice

The mindset of an entrepreneur is a barometer of his or her success

one of the most essential determinants of success is _.

• Motivation

• Patience

• Honesty

• Creativity

Multiple Choice

It is critical to have managerial skills and

strong team-building talents in order to be a successful

entrepreneur.

• True

• False

Multiple Choice

An entrepreneur is a developer or a designer who develops new

ideas and business procedures in response to market demands and

personal interests.

• True

• False

Multiple Choice

He is known for popularizing the concept of entrepreneurship and

emphasizing its role in economic development. He emphasized the importance of entrepreneurs in allocating resources efficiently and creating wealth.

• Jean-Baptiste Say

• Richard Cantillon

• Frank Knight

• Joseph Schumpeter

Multiple Choice

His work focused on the role of uncertainty and risk in entrepreneurship. He

distinguished between risk, which can be measured and managed, and uncertainty, which cannot. Knight's ideas laid the foundation for understanding entrepreneurial decision-making under uncertainty.

• Jean-Baptiste Say

• Richard Cantillon

• Frank Knight

• Joseph Schumpeter

Multiple Choice

an Irish-French

economist, is considered one of the earliest thinkers on

entrepreneurship. He defined entrepreneurs as individuals

who take risks by combining resources to create new

products or services.

• Jean-Baptiste Say

• Richard Cantillon

• Frank Knight

• Joseph Schumpeter

Multiple Choice

His work had a profound impact on the field of entrepreneurship. He

emphasized the role of innovation and creative

destruction in driving economic growth.

• Jean-Baptiste Say

• Richard Cantillon

• Frank Knight

• Joseph Schumpeter

Multiple Choice

a member of the American school of thought, developed the

Chicago School of Economics. He clarified Cantillon's viewpoint on entrepreneurs and risk by differentiating insurable risk from uncertainty.

• Jean-Baptiste Say

• Richard Cantillon

• Frank Knight

• Joseph Schumpeter

Multiple Choice

contributed to the understanding of entrepreneurship in the context of

management. He emphasized the importance of innovation,
customer focus, and risk-taking in entrepreneurial endeavors.

• Ludwig von Mises

• Peter Drucker

• Alfred Marshall

• Friedrich Hayek

Multiple Choice

work on economics and industrial organization had a

significant impact on entrepreneurship. He emphasized

the role of entrepreneurship in improving productivity, creating

new industries, and fostering economic development.

• Ludwig von Mises

• Peter Drucker

• Alfred Marshall

• Friedrich Hayek

Multiple Choice

contributed to the Austrian School of Economics and emphasized the

importance of individual action and market processes in

entrepreneurship. He highlighted the role of entrepreneurs

as individuals who discover and exploit market

opportunities.

• Ludwig von Mises

• Peter Drucker

• Alfred Marshall

• Friedrich Hayek

Multiple Choice

work on

spontaneous order and the price mechanism had

implications for entrepreneurship. He emphasized the

decentralized nature of knowledge and the role of

entrepreneurs in discovering and utilizing dispersed

information in the market.

• Ludwig von Mises

• Peter Drucker

• Alfred Marshall

• Friedrich Hayek

Multiple Choice

Although he was mentioned earlier in

the American perspective, he was bornin Austria-Hungary (now Czech

Republic) and later became an influential economist in Germany.

• Joseph Alois Schumpeter

• Peter Drucker

• Jean-Baptiste Say

• Friedrich Hayek

Fill in the Blank

Motivation is derived from the word "_"

and pertains to the driving force behind an

individual's actions.

Multiple Choice

an Irish economist who was born in France and belonged to the French

school of thought. He appears to be the individual who first coined the term "entrepreneur.

• Joseph Alois Schumpeter

• Peter Drucker

• Jean-Baptiste Say

• Richard Cantillon

Multiple Choice

From the German School of thought, picked up on Cantillon's notion of uncertainty and extended it to theorize that entrepreneurs take on uncertainty so others, namely income earners, do not have to be subject to the same uncertainty.

• Joseph Alois Schumpeter

• Adolph Reidel

• Jean-Baptiste Say

• Richard Cantillon

Multiple Select

Which of the following belongs to the 5 important aspect why motivation is required?
Choose 2

• To generate public demand

• To earn money

• To be famous

• Tough competition

Multiple Select

Which of the following belongs to the 5 important aspect why motivation is required?
Choose 3

• To boost creativity

• Unfavorable conditions

• To Boost productivity

• To earn respect

• To gain business idea

Fill in the Blank

1. Give a characteristic of a successful entrepreneur

Fill in the Blank

2. Give a characteristic of a successful entrepreneur

Multiple Select

Choose 2 External factors of success

• Initiative and Risk
• proper technology

• significant market demand

• proper time management

• excellent staffing

Fill in the Blank

3. Give a characteristic of a successful entrepreneur

Fill in the Blank

4. Give a characteristic of a successful entrepreneur

Fill in the Blank

5. Give a characteristic of a successful entrepreneur

Multiple Choice

The brand started with the creation of Mickey

Mouse and later expanded to include beloved

characters like Snow White, Cinderella, and many

others.

• Walt Disney

• Mark Zuckerberg

• Bill Gates

• Thomas Edison

Multiple Choice

This individual

developed multiple products. One of his creations

was an instant messaging program that his father

used to communicate with the dentist's office

receptionist.

• Walt Disney

• Mark Zuckerberg

• Bill Gates

• Thomas Edison

Multiple Choice

Entrepreneurs are academic and social misfits

• False

• True

Multiple Choice

Entrepreneurs inherit business traits

• False

• True

Multiple Choice

Entrepreneurs are inventors

• False

• True

Multiple Choice

Entrepreneurs are risk-takers

• False

• True

Multiple Choice

Entrepreneurs does not experience many failures

• False

• True

Multiple Choice

Entrepreneurs possess a definite characteristic profile

• False

• True

Multiple Select

Which of the following statement is true about the importance of entrepreneurs
choose 3

• Entrepreneurs create jobs

• Entrepreneurs create change

• Entrepreneurs give to society

• Entrepreneurs are redundant

• Entrepreneurs create market gap

Multiple Select

1. What are 6 C’s to drive motivation in entering a new business?
Choose 2

• Cash

• Control

• considerate

• confident

Multiple Select

2. What are 6 C’s to drive motivation in entering a new business?

Choose 2

• Caring

• Charitable

• Creativity

• Curiousity

Multiple Choice

TYPES OF ENTREPRENEURS:
Prevalent in developed countries, is the one who introduces new goods and services, inducts new methods of production, experiments with new processes, discovers the new market, and restructures the enterprise.

• Innovating

• Imitative

• Fabian

• Drone

Multiple Select

3. What are 6 C’s to drive motivation in entering a new business?

Choose 2

• • Courageous

• • Classy

• Change

• Challenge

Multiple Select

1. What motivates an Entrepreneur?
Choose 2

• • Earn Profit

• • Fame

• Power

• • Make one's own choice

Multiple Select

2. What motivates an Entrepreneur?
Choose 3

• • Attain Success

• • Position

• Give Back

• • Grab an oppurtunity

Fill in the Blank

The Philippine Constitution of _

acknowledges entrepreneurship as a catalyst for

economic advancement.

Fill in the Blank

Article 12 Section _ emphasizes the crucial role of private enterprises

in promoting a fair distribution of income and

wealth, as well as ensuring the continuous

production of goods and services.

Multiple Choice

The _ prioritizes

entrepreneurship, trade, and investment as essential for

achieving economic development and creating job

opportunities.

• Philippine Development Plan (PDP)

• Securities and Exchange Commission
  (SEC)

• Department of Trade and Industry
  (DTI)

• Asian Development Bank
  (ADB)

Multiple Choice

The _ is responsible for realizing the country's goal of a globally competitive and innovative industry and services sector that contributes to inclusive growth and employment generation

• Philippine Development Plan (PDP)

• Securities and Exchange Commission
  (SEC)

• Department of Trade and Industry
  (DTI)

• Asian Development Bank
  (ADB)

Multiple Choice

It aims to assist the government in achieving a sustainable and climate-responsive economic recovery through quality employment and livelihood opportunities, improved access to social services, enhanced food security, and reduced vulnerability to epidemics and natural disasters.

• Philippine Development Plan (PDP)

• Securities and Exchange Commission
  (SEC)

• Department of Trade and Industry
  (DTI)

• Asian Development Bank
  (ADB)

Multiple Choice

_ is the national government agency that is responsible for formulating policies and implementing programs in the field of labor and employment. The agency protects workers and their welfare by enforcing employment and labor laws.

• Philippine Development Plan (PDP)

• Securities and Exchange Commission
  (SEC)

• Department of Trade and Industry
  (DTI)

• Department of Labor and Employment (DOLE)

Multiple Choice

The commissions primary functions include the registration of securities, analysis of every registered security, and evaluation of applicants' financial condition and operations for security issues.

• Philippine Development Plan (PDP)

• Securities and Exchange Commission
  (SEC)

• Department of Trade and Industry
  (DTI)

• Department of Labor and Employment (DOLE)

Multiple Choice

National and foreign employees and employers earning more than Php 1,000.00 must register and pay. Employers are required to register and pay for their employee's share and it shall be deducted from the regular working of their employees.

• Social Security System
  (SSS)

• Securities and Exchange Commission
  (SEC)

• Department of Trade and Industry
  (DTI)

• Department of Labor and Employment (DOLE)

• Asian Development Bank (ADB)

Multiple Choice

Membership is mandatory. Therefore all employers and employees must register and contribute to the fund. This government entity is under and directed by the Pag-IBIG fund.

• Social Security System
  (SSS)

• Home Development Mutual Fund (HDMF)

• Department of Trade and Industry
  (DTI)

• Department of Labor and Employment (DOLE)

• Asian Development Bank (ADB)

Multiple Choice

The responsibility of this health care is to give its members basic health Insurance and members are required to register.

• Social Security System
  (SSS)

• Home Development Mutual Fund (HDMF)

• Philippine Health Insurance Corporation (PhilHealth)

• Department of Labor and Employment (DOLE)

• Asian Development Bank (ADB)

Multiple Choice

recorded a total of 924,721 business enterprises operating in the Philippines. Micro, small and medium enterprises (MSMEs) account for 99.56% (920,677) of the total establishments, of which 89.59% (828,436) were microenterprises, 9.56% (88,412) were small enterprises, and 0.41% (3,829) were medium enterprises

• Philippine Statistics Authority (PSA)

• Home Development Mutual Fund (HDMF)

• Philippine Health Insurance Corporation (PhilHealth)

• Department of Labor and Employment (DOLE)

• Asian Development Bank (ADB)

Multiple Choice

This is where you register if your enterprise is a single

Proprietorship. The agency issues a certificate of registration of the business name.

• Social Security System
  (SSS)

• Department of Trade and Industry (DTI)

• Philippine Health Insurance Corporation (PhilHealth)

• Department of Labor and Employment (DOLE)

• Asian Development Bank (ADB)

Multiple Choice

If your enterprise is a partnership or corporation. It will issue a

Certificate of registration.

• Social Security System
  (SSS)

• Department of Trade and Industry (DTI)

• Philippine Health Insurance Corporation (PhilHealth)

• Department of Labor and Employment (DOLE)

• Securities and Exchange Commission (SEC)

Multiple Choice

If your set-up is a cooperative, register with this body. The

Agency will issue the certificate of registration.

• Cooperative Development Authority (CDA)

• Department of Trade and Industry (DTI)

• Philippine Health Insurance Corporation (PhilHealth)

• Department of Labor and Employment (DOLE)

• Securities and Exchange Commission (SEC)

Multiple Choice

You register with the municipality or where is your business. The

office will issue the business permit.

• Cooperative Development Authority (CDA)

• Department of Trade and Industry (DTI)

• Local Government Unit (LGU)

• Department of Labor and Employment (DOLE)

• Securities and Exchange Commission (SEC)

Multiple Choice

argue that entrepreneurs exhibit extreme optimism in their decision-making process. In a study of 2,994 entrepreneurs, they report that 81% indicate their odds of success as greater than 70%, and a remarkable 33% seeing odds of success of 10 out of 10.

• David McClelland

• Collins and Moore

• Bird

• Cooper, Woo and Dunkelberg

Multiple Choice

You register with a specific barangay municipality. This office will

issue the barangay clearance .

• Cooperative Development Authority (CDA)

• Department of Trade and Industry (DTI)

• Local Government Unit (LGU)

• Barangay Hall

• Securities and Exchange Commission (SEC)

Multiple Choice

You register your business with the office and apply for your

business taxpayer identification number (TIN) registration of

books and accounts, authority to print

• Cooperative Development Authority (CDA)

• Department of Trade and Industry (DTI)

• Local Government Unit (LGU)

• Bureau of Internal Revenue (BIR)

• Securities and Exchange Commission (SEC)

Multiple Choice

You register your business as an employer, yourself as a

self-employed. This office will issue an SSS number for your

business, yourself, and your workers.

• Social Security System (SSS)

• Department of Trade and Industry (DTI)

• Local Government Unit (LGU)

• Bureau of Internal Revenue (BIR)

• Securities and Exchange Commission (SEC)

Multiple Choice

If you employ five workers or more. register your business with

your agency. It will protect the workers.

• Department of Labor and Employment (DOLE)

• Department of Trade and Industry (DTI)

• Local Government Unit (LGU)

• Bureau of Internal Revenue (BIR)

• Securities and Exchange Commission (SEC)

Multiple Select

Choose 3 Business Ideas in the Philippines

• T-Shirt Printing Company

• Food Cart

• Palamig

• Vegetable
  Plantation

• Online
  Phishing

Fill in the Blank

Entrepreneurship is often associated with resourcefulness, innovation, and the willingness to take calculated risks in order to launch a new, untested product or service into the market. The "_" is a term that refers to all of these characteristics.

Fill in the Blank

_ growth is the driving force behind wealth in a capitalist society.

Multiple Choice

studied 150 entrepreneurs and concluded that they are tough, pragmatic people driven by independence and achievement. They are seldom willing to submit to authority.

• David McClelland

• Collins and Moore

• Bird

• Cooper, Woo and Dunkelberg

Multiple Choice

sees entrepreneurs as mercurial, prone to insights, brainstorms, deceptions, ingeniousness, and resourcefulness. They are cunning, opportunistic

creative, and unsentimental.

• David McClelland

• Collins and Moore

• Bird

• Cooper, Woo and Dunkelberg

Fill in the Blank

What are three categories of entrepreneurs:

Multiple Choice

described the entrepreneur as primarily motivated by an overwhelming need for achievement and a strong urge to build.

• David McClelland

• Collins and Moore

• Bird

• Cooper, Woo and Dunkelberg

Multiple Choice

Identify the following characteristic:
_ is a feature that all successful businesspeople must possess. The attitudes and behavior of an entrepreneur with their employees and clients go a long way in shaping the company's culture. It is accompanied by dependability and discipline.

• CREATIVITY

• PROFESSIONALISM

• RISK-TAKING

• PASSION

• PLANNING

Multiple Choice

An entrepreneur's ability to take _ is crucial. One cannot discover something unique unless they have the will to explore the unknown. And it's possible that this one-of-a-kindness will make all the difference.

• CREATIVITY

• PROFESSIONALISM

• RISK-TAKING

• PASSION

• PLANNING

Multiple Choice

Identify the following characteristic:
The key to success is _ . An entrepreneur should be well- versed in his or her industry or expertise. Only by gaining knowledge can a problem or a crisis be resolved. It permits him to maintain track of the market's advancements as well as the continuously changing requirements.

• KNOWLEDGE

• SOCIAL SKILLS

• OPEN-MINDEDNESS TOWARDS LEARNING PEOPLE AND EVEN FAILURE,

• EMPATHY

• THE CUSTOMER IS EVERYTHING

Multiple Choice

Identify the following characteristic:
Something fresh is born from_ . Because there can be no innovation without originality. Entrepreneurs are known for their ability to jot down a lot of ideas and then act on them. Not every suggestion will be a success.

• CREATIVITY

• PROFESSIONALISM

• RISK-TAKING

• PASSION

• PLANNING

Multiple Choice

This is perhaps the most crucial of all the processes involved in putting on a show. Everything would be a loose string without it, as they say, "If you fail to plan, you plan to fail." It entails devising a strategy for the entire game ahead of time. It essentially summarizes up all the resources available to you and allows you to devise a structure and thought process for achieving your objective.

• CREATIVITY

• PROFESSIONALISM

• RISK-TAKING

• PASSION

• PLANNING

Multiple Choice

Your work should be something you enjoy doing. As a result, you appreciate what you're doing at work and remain highly motivated. _ operates as a driving force that motivates you to strive for greater success.

• CREATIVITY

• PROFESSIONALISM

• RISK-TAKING

• PASSION

• PLANNING

Multiple Choice

Acceptance is a virtue that an entrepreneur must possess. It is vital to fully comprehend whether condition or incident can be à beneficial opportunity. An open mind is essential to perceive such opportunities. An entrepreneur must be self-motivated. He should be upbeat about his defeats and humble about his victories.

• KNOWLEDGE

• SOCIAL SKILLS

• OPEN-MINDEDNESS TOWARDS LEARNING PEOPLE AND EVEN FAILURE,

• EMPATHY

• THE CUSTOMER IS EVERYTHING

Multiple Choice

Identify the following characteristic:
A skillset is a set of tools that an entrepreneur uses to run his firm. To be a successful entrepreneur, you must also have good _ . Overall, these are the attributes that an entrepreneur must possess to succeed.
Ex. relationship building; hiring and talent sourcing and team strategy formulation.

• KNOWLEDGE

• SOCIAL SKILLS

• OPEN-MINDEDNESS TOWARDS LEARNING PEOPLE AND EVEN FAILURE,

• EMPATHY

• THE CUSTOMER IS EVERYTHING

Multiple Choice

is the ability to grasp what is going on in someone's head. This is a skill worth mentioning. You must recognize that it is the people who make the business tick! A smart entrepreneur should know the strengths and limitations of every individual that works for him.

• KNOWLEDGE

• SOCIAL SKILLS

• OPEN-MINDEDNESS TOWARDS LEARNING PEOPLE AND EVEN FAILURE,

• EMPATHY

• THE CUSTOMER IS EVERYTHING

Multiple Choice

A successful entrepreneur understands that the consumer is the most important aspect of his or her firm. The first stage is to figure out how to get a customer's attention. This can be accomplished by marketing and advertising, among other methods.

• KNOWLEDGE

• SOCIAL SKILLS

• OPEN-MINDEDNESS TOWARDS LEARNING PEOPLE AND EVEN FAILURE,

• EMPATHY

• THE CUSTOMER IS EVERYTHING

Multiple Choice

ENTREPRENEURS CHARACTERS:
Entrepreneurs must create business plans to achieve objectives in a variety of areas, including finance, marketing, production, sales, and personnel

• Planning skills

• Ability to communicate

• Marketing skills

• Interpersonal skills

• Basic management skills

Multiple Choice

ENTREPRENEURS CHARACTERS:
Entrepreneurs must be able to explain, discuss, sell, and market their products or services.

• Planning skills

• Ability to communicate

• Marketing skills

• Interpersonal skills

• Basic management skills

Multiple Choice

ENTREPRENEURS CHARACTERS:
Entrepreneurial success depends on having good marketing abilities that make people desire to buy goods or services.

• Planning skills

• Ability to communicate

• Marketing skills

• Interpersonal skills

• Basic management skills

Multiple Choice

ENTREPRENEURS CHARACTERS:
An entrepreneur's ability to form and maintain favorable connections with customers and clients, employees, financial lenders, investors, lawyers, and accountants, among others, is critical to the success of his or her business venture.

• Leadership abilities

• Ability to communicate

• Marketing skills

• Interpersonal skills

• Basic management skills

Multiple Choice

ENTREPRENEURS CHARACTERS:
Even if entrepreneurs hire others to handle the business's day-to-day operations, they must know whether their company has the necessary resources.

• Leadership abilities

• Ability to communicate

• Marketing skills

• Interpersonal skills

• Basic management skills

Multiple Choice

ENTREPRENEURS CHARACTERS:
The ability to create a company vision and encourage colleagues to achieve it is critical to success.

• Leadership abilities

• Ability to communicate

• Marketing skills

• Interpersonal skills

• Basic management skills

Fill in the Blank

An entrepreneur has traditionally been defined as "a person who organizes and manages any enterprise, especially a business, usually with considerable _ and _ ." Rather than working as an employee, an entrepreneur runs a business and assumes all the risk and reward of a given business venture, idea, or sound/service offered for sale.

Fill in the Blank

This happens when the new means of producing an existing product can deliver additional value, like producing a product at lower cost.

Multiple Choice

TYPES OF ENTREPRENEURS:
Mostly found in developing/underdeveloped countries, this class of entrepreneurs is characterized by their readiness to adopt successful innovations already inaugurated. They enjoy the existing innovations originated by innovating entrepreneurs, maybe in developed economies. They do not innovate the changes themselves; they only imitate techniques and technology innovated by others.

• Innovating

• Imitative

• Fabian

• Drone

Multiple Choice

TYPES OF ENTREPRENEURS:
lack the will to adopt new methods of productions. They exhibit great vigilance and apprehensions in experimenting with any change in their enterprise. They imitate only when it becomes clear that failure to do so would result in a loss of the relative position of their enterprise. They are sluggish and diffident in adopting even successful innovations.

• Innovating

• Imitative

• Fabian

• Drone

Multiple Choice

TYPES OF ENTREPRENEURS:
are referred to as those who refuse to adopt opportunities to change the existing production methods. However, they are earning significantly reduced returns than other producers, who have adopted new and technologically advanced methods. Sometimes such entrepreneurs may suffer losses, but they are not ready to make changes in their existing production methods. They struggle to exist, not to grow

• Innovating

• Imitative

• Fabian

• Drone

Multiple Choice

a Chinese immigrant, is the brains behind this popular food chain. His family maintained a Chinese restaurant in Manila at the time, which enabled him finish college. You've probably heard the catchphrase "langhap sarap" as a Filipino.

• HENRY SY (Shoe Mart)

• TONY TAN CAKTIONG (Jollibee Foods)

• SOCORRO RAMOS (National Bookstore)

• JOHN GOKONGWEI JR. (J.G. Holdings)

• JOE MAGSAYSAY (Potato Corner)

Multiple Choice

He was born into a poor household in Jinjang, Xiamen, China. Due to the challenges in their home country, they moved to the Philippines in 1936 and opened a tiny convenience shop in Manila. World War II broke and ruined the family's business not long after the transfer. He continued to pursue his entrepreneurial interest by selling worn military combat boots and other items to American soldiers.

• HENRY SY (Shoe Mart)

• TONY TAN CAKTIONG (Jollibee Foods)

• SOCORRO RAMOS (National Bookstore)

• JOHN GOKONGWEI JR. (J.G. Holdings)

• JOE MAGSAYSAY (Potato Corner)

Multiple Choice

worked as a salesgirl at a bookshop before founding National Book Store. With barely P200 in their bank account, she and her husband founded the National Book Store. Despite the Japanese government's rigorous regime, they used it to sell books and educational supplies to kids.

• HENRY SY (Shoe Mart)

• TONY TAN CAKTIONG (Jollibee Foods)

• SOCORRO RAMOS (National Bookstore)

• JOHN GOKONGWEI JR. (J.G. Holdings)

• JOE MAGSAYSAY (Potato Corner)

Multiple Choice

His life narrative differs from the standard rags-to-riches tales in that it has a twist. He is the son of one of Cebu's wealthiest families and was born in China. When his father died, though, everything went wrong, and he had to support his family by selling Cebu items. He then attempted exchanging goods by boat and truck until he began importing goods from the United States

• HENRY SY (Shoe Mart)

• TONY TAN CAKTIONG (Jollibee Foods)

• SOCORRO RAMOS (National Bookstore)

• JOHN GOKONGWEI JR. (J.G. Holdings)

• JOE MAGSAYSAY (Potato Corner)

Multiple Choice

A dropped out of school to work at a fast-food restaurant, founded it in early 1990. He was subsequently offered the opportunity to become a manager, and his store management abilities came in handy when he and a friend decided to open Potato Corner. He went on to become one of the Philippines' most successful businesspeople.

• HENRY SY (Shoe Mart)

• TONY TAN CAKTIONG (Jollibee Foods)

• SOCORRO RAMOS (National Bookstore)

• JOHN GOKONGWEI JR. (J.G. Holdings)

• JOE MAGSAYSAY (Potato Corner)

Multiple Select

Choose 3 Internal factors of success

• good quality product

• adequate funding

• government policy

• Effective management

• excellent staffing

Multiple Select

Choose 2 Internal factors of success

• Vision
• proper technology

• significant market demand

• minimal competition

• excellent staffing

Fill in the Blank

It is a fundamental element in becoming an entrepreneur. It is the powerful motivating force that gives the entrepreneur a sense of perspective of what he hopes, expects, and desires for his intended business.

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it flows from the entrepreneurial process of visioning. It is the formal, articulated expression of what the entrepreneur hopes and wishes to achieve.

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Choose 3 External factors of success

• minimal competition

• adequate funding

• government policy

• Effective management

• excellent staffing

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This can be in the form of a physical device, which provides a new means to satisfy a need or solve problems.

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refers to action or actions that will satisfy a particular need or solve a particular problem.

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a new way of getting a product to the end-user, which the customer finds easier, more convenient, and less time-consuming.

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based on his study of American agriculture, classified entrepreneurs in the manner that entrepreneurs have less initiative and drive at the initial stage of economic development, and as economic development proceeds, they become more innovative and enthusiastic (Gupta and Khanka, 2010).

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This can be mean building relationships based on trust, which creates value by reducing cost in communication, monitoring, and

strengthening networks against fierce competition.

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means offering additional serviced elements to the product,

like offering training in product use.