Diagnostic Test for Entrepreneurship

It is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make a profit.

• Business Plan
• Entrepreneurship
• Business Proposal
• Executive Summary

He said that: Entrepreneurship is the art of turning an idea into a business.

• Bill gates
• Fred Wilson
• Frank H. Knight
• Joseph Alois Schumpeter

What is the difference of businessman and entrepreneurs?

• Entrepreneurs develop new product; businessman develop existing product.
• Entrepreneurs are the owner of new product; businessman is the owner of old product.
• Entrepreneurs are the employees of the business; businessman is the owner of the business.
• Entrepreneur is the owner of the business; businessman is the employee of the business.

Determine the kind of entrepreneur that the example shows: “Pares Retiro is using the same Recipe of their pares since 2007 until to present.”

• Drone Entrepreneur
• Skeptic Entrepreneur
• Imitating Entrepreneur
• Innovative Entrepreneur

Joseph as the CEO of a Cellphone manufacturing company always invent, add new products and new methods in terms of their production. He always discovers potential markets and reorganizes the company’s structure. Joseph is _________ entrepreneur.

• Innovative
• Imitating
• Fabian
• Drone

Wally Viola copies the new product of his competitor. What kind of entrepreneur Wally is?

• Skeptic entrepreneur
• Imitating entrepreneur
• Drone entrepreneur
• Innovative entrepreneur

Benny Bilang is a fabian entrepreneur who owns a traditional pop corn shop. One of his competitors introduced a “make your own flavor” option. Which statement best describes Benny’s next move?

• He added a new 3 flavor to his menu.
• He made no modification to his business.
• He introduced “make your own flavor” option but cheaper.
• He introduced “make your own flavor” option when he noticed a 50% decrease on his monthly revenue.

Which is the most important characteristic for imitative entrepreneurs to possess?

• Willingness to take risks
• Creativity and originality
• Highly specialized knowledge in a particular field
• The ability to identify successful models and adapt them to new contexts

In what way do Fabian entrepreneurs differ from other types of entrepreneurs?

• They pursue gradual, incremental changes rather than rapid transformation.
• They prioritize short-term profits over long-term sustainability.
• They prioritize rapid growth and expansion over profitability.
• They rely on bold, high-risk strategies to achieve success.

Which best describes the definition of an entrepreneur?

• A person who works as an employee for a company.
• A person who provides goods and services to customers for a fee.
• A person who invests in established businesses to generate profits.
• A person who takes the initiative to create a business to capitalize on an opportunity.