Entrepreneurship

Who are the people that owns, operate, and take risk of a business venture?

• Aptitude

• Employee

• Entrepreneurs

• Entrepreneurship

Which is NOT a disadvantage of Entrepreneurship?

• Risky

• Uncertain Income

• You are the Boss

• Work long hours

Which is NOT an advantage of Entrepreneurship?

• You can be creative

• Make a lot of Money

• You will make decisions alone

• Can choose a business of interest

Jestine brings her friends together to generate ideas on her new business. What did Jestine did?

• Gap Analysis

• Focused- Group

• Brainstorming

• Business Meeting

Which Macro Environment Forces defines the governance system of the country or the local are of the business?

• Political Environment

• Ecological Environment

• Socio Cultural Environment

• Technological Environment

Which DOES NOT show the surging passion of the entrepreneur?

• He/She is drawn to find fulfilment in the act and process of discovery

• He/She will be willing to totally devote one’s self to the quest

• Despite several setbacks or disappointment, the entrepreneur is easily disheartened.

• He/She have the ability to nurture relationships with customers, employees, and suppliers.

Why does the need for segmentation crucial in Micro-market Analysis?

• Because the definition of “value for money” differs from group to group.

• Because they can clearly defined location or specific customer group that an enterprise wishes to serve.

• A is the correct answer

• Both A and B is correct.

What method of Customer Profiling defines the customer’s motivation, perceptions, preferences and lifestyle?

• Psychological

• Psychographics

• Demographics

• Techno graphics

“Entrepreneur, know thy market well”. What does this simple reminder to the entrepreneur mean?

• Alert all the time

• Should exert all efforts to know the market he or she wants to exploit.

• You will be able to reach your customer wherever they are

• All of the above

What questions does the entrepreneur need to ask in consideration to his preferences and capabilities in screening of opportunities?

• Do I have the drive to pursue this business opportunity to the end?

• Will I spend all my time, effort and money to make the business opportunity work?

• Will I sacrifice my exiting lifestyle, endure emotional hardship and forego my usual comforts to succeed in this business opportunity?

• All of the above