UNIT 1 - Lesson 1: Entrepreneurship: Overview and Concepts

Which of the following individuals creates unique ideas that will be useful in starting a business?

• entrepreneur

• investor

• manager

• businessman

Which of the following competencies relates when an entrepreneur thinks positively even when faced with unexpected problems?

• customer relation service

• optimism

• people-centeredness

• integrity

What is considered as the capability, capacity, and ability of the learner to handle situations in various areas of business operations?

• entrepreneurship

• competency

• goal setting

• risk-taking

An entrepreneur should know how to build trust and long-term relationships with customers.

Which of the following competencies is it referring to?

• conceptual thinking

• integrity

• risk-taking

• customer relations service

Which of the following is not a competency for entrepreneurial success?

• strategic thinking

• commercial aptitude

• overconfidence

• collaboration

Andy, an entrepreneur, starts a business he wants, but he is doubtful of himself if he can manage it right because he commits errors in his decisions.

What common competency is lacking in the entrepreneur?

• self-efficacy

• adaptability and flexibility

• interpersonal skills

• ambition

In terms of generating ideas for a business, what is the difference between an entrepreneur and a businessman?

• An entrepreneur is not the owner of the business.

• A businessman starts the business with an existing idea while an entrepreneur starts the business from his or her own unique idea.

• They have equal investments in the business.

• A businessman is more creative than an entrepreneur.

Which is not a benefit of entrepreneurship education to senior high school students?

• It will increase student’s entrepreneurial interest.

• It is only an additional subject because teachers want this.

• It will help learners analyze creative ideas for starting up a business.

• It will help learners write a business plan.

Why do we have a lot of competencies for entrepreneurial success?

• These competencies will be the foundation of our business if it is to earn a profit.

• It cannot be one competency only; it should be a combination of different characteristics in order to achieve success.

• These are stated in the book.

• Many entrepreneurs have these different characteristics.

Why is it important to have specific goals and objectives for the business?

• The company will have a good promotion for its products.

• The business will attain high sales of its products.

• The business will be able to complete the mission and vision statements of the company.

• Well-chosen goals point a new business in the right direction.