WorksheetsMidterm Exam in Entrepreneurial Management
Total questions: 42
Worksheet time: 40mins
Which of the following questions concerning innovation is not relevant?
“What is the problem?”
“Whom does it affect?”
“What costs are involved?”
“When the product goes to market?”
Which of the following statements is true?
Innovation is the specific function of entrepreneurship.
Innovation is the process by which entrepreneurs consume marketable ideas.
Innovation does not involve change.
Innovation is the government’s responsibility.
Which of the following are keys to understanding opportunity and its development for entrepreneurs?
creativity and capital
innovation and creativity
background and knowledge
incubation and experience
Entrepreneur sense potential in business problems by asking
who is to blame and how to relocate them?
what about profits?
what if and why not?
farfetched, unimaginative questions
The two most important aspects of creativity are
design and solution.
intelligence and technical competence.
process and people.
capital and opportunity.
Which of the following statements is true?
People are born with creativity and can do nothing to change their level of creativity.
People can learn to be creative.
Creativity has nothing to do with learning.
The creative mind cannot be developed.
Some ways to develop a creative mind include
reading a variety of textbooks on entrepreneurship.
creative minds are born not made.
observing other entrepreneurs.
getting away from it all.
The incubation process involves which of the following?
working harder
letting the subconscious work
talking with friends
changing jobs
Which of the following statements is true?
The right brain helps people analyze and verbalize.
The right brain helps people understand analogies and imagine things.
The left brain helps people understand analogies and imagine things.
Right and left brain concepts are meaningless.
Which of the following can help speed up the idea process?
working harder
seeing new movies
taking breaks while working
intuition
Which of the following can help carry out the evaluation and implementation stage?
increasing energy level
hide your ideas from knowledgeable people
avoid advice from others
ignore hunches and feelings
A person can develop their own creativity by
quitting a boring job.
focusing on making money.
taking up a new hobby.
seeing new and different relationships in people, objects, and places around them.
Which of the following is a characteristic of creative people?
bright but not necessarily brilliant
poor image of themselves
rigid and dogmatic
unmotivated by challenging problems
Which of the following statements is true?
The right brain is more important in the creative process than the left brain.
The left brain is more important in the creative process than the right brain.
Both sides of the brain are important to the creative process.
Motivation, not the brain is the key to the creative process.
Which of the following mental habits inhibit creativity and innovation?
either/or thinking, stereotyping
functional perspective, mindsets
security hunting, risks
stereotyping, incubation
Security hunting means
using probability and stereotypes to minimize risk
finding a permanent source of venture capital
sticking firmly to decisions
installing a security system
Which of the following statements is not true?
Creative ideas never come out of the blue.
Ideas often emerge during activities unrelated to the enterprise.
ANSs usually come to an individual incrementally.
Creative individuals allow their subconscious to mull over information.
Which one is not one of the phases in the creative process?
background or knowledge accumulation
evaluation and implementation
the incubation process
preliminary investigation
In the incubation process, ways of getting away from a problem include
working harder
working on something else.
going to parties.
visiting the library.
Successful entrepreneurs are able to identify
those ideas that are workable and that they have skills to implement.
those ideas that will make money.
those ideas that are not feasible.
those ideas that will win instant approval from customers.
It is the objective of the entrepreneur to sustain product quality and market acceptance.
(a)
It refers to the product acceptance before it is rolled out into the production area.
(a)
It refers to the place where the facilities will be located.
(a)
Customers look not only on the product’s quality but also on its appearance and usability.
(a)
Entrepreneurs must look at it is as an important component in the production of goods.
(a)
The entrepreneur creates these problems when they fail to sustain growth and expansion.
(a)
This is created when there is market sustained patronage and customer satisfaction.
(a)
These are the conduit of entrepreneur in vertical or horizontal expansion.
(a)
Profitability and market expansion is affected by the entry of another product.
(a)
The entrepreneur must maintain in plant operation product standard and specification.
(a)
Owned by a few individuals, usually relatives and friends. They limit ownership to the public and maintained common interest to the corporation so as to avoid outside opinions and suggestions.
(a)
Each member will receive a computed surplus to be distributed to the group. It is divided to be enjoyed by the group as the financial statement as a proof and evidence.
(a)
Government agency for business registration.
(a)
Government agency for Tax Account Number.
(a)
Owned by any individual who buys shares of stock which are openly traded in the stock markets. They invite outsiders and open ownership to the public to attract more funds as investments.
(a)
Government agency for Cooperatives.
(a)
Government agency for the Recruitment or placement agency for foreign employment.
(a)
Government agency for the registration of Partnership and Corporation.
(a)
Cooperative is not limited to a certain group of people but rather to other group of individuals who are willing to be a part of the organization.
(a)
Government agency for the registration of Single Proprietorship.
(a)
How can you sustain the growth and expansion of your business operation considering the many factors that must be accounted for in the operation of the company?
How does the business name affect the market interest in the situation of it’s previously nonexistence?
