ENTREP- MIRANDA

The following statements describes entrepreneurship, except

• 1. Entrepreneurship involves a continuous search for new ideas

• 1. Entrepreneurship is a science of converting ideas into business

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

• 1. 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

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

When an entrepreneur does thing before being asked, he has

• Perseverance

• Self-confidence

• Initiative

• Persuasion

Steve Jobs created a whole new industry for gadgets and music. He 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 involves

• 1. A new concept giving rise to a new business

• 1. An existing concept giving rise to a new business

• 1. An existing concept and an existing business

• 1. An existing business and new concept

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

• 1. A new concept giving rise to a new business

• An existing concept giving rise to a new business

• 1. An existing concept and an existing business

• 1. An existing business and new concept

Dirty Linen is a laundry business which had tree branches in Metro Manila, mostly in the center and south areas of the metropolis. The son of the owner, while still in college, was permitted by his parents to set up a fourth branch in Quezon City. This type of entrepreneurial enterprise involve

• A new concept giving rise to a new business

• An existing concept giving rise to a new business

• An existing concept and an existing business

• An existing business and new concept

   

Studying a problem, identifying its alternatives, comparing alternative in terms of costs and benefit implication and choosing the best alternative help in sharpening the decision-making skills of an entrepreneur, thus entrepreneurship is

• Development of managerial capabilities

• Means of improving standard of living

• Creation of organizations

• Means of economic development

When entrepreneurs assemble and coordinate physical, human and financial resources and direct them towards achievement and objectives through managerial skills, entrepreneurship results in the

• Development of managerial capabilities

• Improvement of standard of living

• Creation on organizations

• Means of economic development
  

Possession of luxury cars, computers, mobile phones, rapid growth of shopping malls, etc. All these are due to the efforts of entrepreneurs therefore, entrepreneurship is

• Development of managerial capabilities

• Improvement of standard of living

• Creation on organizations

• Means of economic development

When a person creates and uses innovative ideas and maximizes output from given resources, entrepreneurship is

• Development of managerial capabilities

• Improvement of standard of living

• Creation on organizations

• Means of economic development