LESSON 1 - PRETEST (ENTREP)

The following statements describes entrepreneurship, except

• Entrepreneurship is a science of converting ideas into business.

• Entrepreneurship involves a continuous search for new ideas.

• Entrepreneurship is making sure a company is making profit but doesn’t focus on innovation.

• Entrepreneurship refers to the concept of developing and managing a business venture in order to gain profit by taking several risks in the corporate world.

Entrepreneurship is an execution of

• insight

• ideas

• instinct

• intelligence

Entrepreneurship happens when a person identifies an opportunity and introduce something new where he can make a profit.

• True

• False

• Maybe

• TrueI don’t know

They are innovators, willing to take risks and generate new ideas to create unique and potentially profitable solutions to modern-day problems. They are those who undertake the risk of new enterprises.

• Doctors

• Engineers

• Entrepreneurs

• Frontliners

When an entrepreneur does things before being asked, he has

• initiative

• perseverance

• persuasion

• self-confidence

When an entrepreneur introduces innovative solutions to any obstacles and problems in the enterprise, he is a

• planner

• risk-taker

• problem-solver

• proactive

When an entrepreneur convinces customers and financiers to patronize his business, he has

• self-confidence

• Perseverance

• persuasion

• initiative

It is the return or compensation to the entrepreneur for taking on the risk of developing an idea into an actual business venture.

• Market

• Product

• Profit

• Sales

Steve Jobs created a whole new industry for gadgets for music and boosted the music industry with his invention of the iPod and the downloading of music through iTunes. Apple, the company he founded, saw its sales grow by leaps and bounds with these products. This type of entrepreneurial enterprise involve

• a new concept giving rise to a new business

• an existing business and new concept

• an existing concept giving rise to a new business

• an existing concept and an existing business

Mang Inasal took the country by storm because its founder correctly perceived a need of people for affordable, quick-served inihaw or grilled chicken Thus, this business was founded and flourish, to the extent of offering very real competition to Jollibee’s popular Chicken Joy. This type of entrepreneurial enterprise involve

• an existing concept and an existing business

• an existing concept but giving rise to a new business

• an existing business and new concept

• a new concept giving rise to a new business