Q4 Entrepreneurship Reviewer SY 2023 - 2024

Which of the following best defines a heterogeneous product?

• A product with high demand

                     

                  

• A product with limited features

                   

• A product with similar characteristics and appearance

• A product with dissimilar characteristics and appearance

How does effective supply chain management contribute to cost reduction?

• a. By increasing purchasing costs

• b. By adding unnecessary inventory

• c. By minimizing delays in production

• d. By limiting communication with suppliers

In which phase of the recruitment process should a company conduct background checks on potential hires?

• a. Before the interview stage

• b. After extending a job offer

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• c. Throughout the entire process

• d. During the reference check stage

When recruiting qualified individuals for a business enterprise, which factor should an entrepreneur prioritize to ensure effective talent acquisition?

• a. Hiring individuals with the lowest salary expectations

• b. Selecting candidates solely based on educational qualifications

• c. Prioritizing candidates with extensive experience in unrelated fields

• d. Ensuring candidates possess the necessary skills and expertise for the job requirements

Which of the following is NOT a benefit of using internal referrals as a recruitment method?

• a. Cost-effectiveness

• b. Diverse pool of candidates

• c. Faster hiring process

• d. Higher retention rates

What is the primary purpose of a business plan?

• a. To develop strategies for capturing value

• b. To identify major competitors in the market

• c. To outline the components of a business model

• d. To guide entrepreneurs throughout the business process

What is the purpose of conducting a SWOT analysis as part of the market plan creation process?

• a. To select the company's next CEO

• b. To determine the company's annual revenue

• c. To evaluate the company's social media presence

• d. To identify internal strengths and weaknesses and external opportunities and threats

A bookstore owner decided to offer a 25% discount for a particular series of books that sell for ₱800 each. By doing so, her average sales increased from 15 books to 30 books a day. If she bought each book in the series at a price of ₱500 from the supplier, by how much was her daily profit increased or decreased by offering such a discount on the books?

• a. Decreased by ₱1,500

• b. Decreased by ₱2,000

• c. Increased by ₱3,500

• d. Increased by ₱4,000

When evaluating different marketing channels, which factor should be considered most important?

• a. Availability of free samples

• b. Cost-effectiveness and reach

• c. Length of the company name

• d. Personal preferences of the marketing team

Which of the following is not a step to follow before operating a business?

• a. Selling the product

• b. Register your business

• c. Set up accounting system

• d. Advertise the business using Facebook