Entrepreneurial Mindset Midterm Quiz

What is the main goal of entrepreneurship?

• To avoid risks and play it safe

• To create, develop, and manage a business venture for profit

• To work for an established company

• To focus only on personal hobbies

Which of the following best describes an entrepreneur?

• Someone who prefers a stable job with fixed income

• A person who starts and manages a business despite risks

• An individual who only works on government projects

• Someone who avoids making decisions

Why is entrepreneurship important to the Philippine economy?

• It creates more government jobs

• It reduces competition in the market

• It promotes innovation and generates employment

• It focuses only on big corporations

What is one key characteristic of a successful entrepreneur?

• Fear of failure

• Willingness to take calculated risks

• Avoidance of challenges

• Dependence on luck

In the food and hospitality industry, an entrepreneur must have:

• Strong customer service skills and creativity

• Unlimited financial resources

• A government position

• A background in medicine

Self-discovery in entrepreneurship helps individuals:

• Identify their strengths and weaknesses

• Avoid new challenges

• Depend on others for decision-making

• Ignore their interests and skills

Why is it important for entrepreneurs to understand their own strengths?

• To delegate all responsibilities to others

• To maximize their potential and improve their business approach

• To avoid making decisions in the business

• To rely on external support for success

A person who enjoys meeting new people and socializing is likely to be good at:

• Financial analysis

• Customer relations and networking

• Back-office operations

• Manufacturing

Which of the following skills is most important for an aspiring entrepreneur in the HRM field?

• Mastery of cooking only

• Effective communication and leadership

• Ignoring customer feedback

• Focusing only on digital marketing

How can Filipino HRM students develop an entrepreneurial mindset?

• By practicing problem-solving and decision-making

• By avoiding risks and challenges

• By relying only on family businesses

• By focusing solely on schoolwork