WorksheetsMIDTERM EXAM IN GELEC 2 - ENTREPRENEURIAL MINDS
Total questions: 30
Worksheet time: 15mins
According to Islam, what is the importance of being transparent and honest with customers?
It helps in building trust and gaining repeated customers
It is a requirement for earning lawful income
It is a way to seek pleasure of Allah and the Prophet
It is a major sin
What does Islam emphasize in all aspects of human life?
Ethical values
Financial success
Competition
Profit maximization
According to the Holy Quran, what is the reward for those who spend their wealth in charity?
No fear and no grief
Eternal paradise
Material wealth and success
High social status
What does Islam consider as a major sin?
Interest (usury)
Charitable donations
Honesty and truthfulness
Generosity and integrity
In an interest-free society following the ethics of Islam, what will be the stamps of that society?
Honesty, truthfulness, generosity, integrity, sincerity
Profit maximization, competition, materialism
Corruption, dishonesty, greed, selfishness
Indifference, laziness, lack of ambition
According to Proverbs 9:10, what is basic in all wisdom?
Reverence and fear of God
Knowledge and understanding
Good judgment and wisdom
Profitability and fruitfulness
Where does wisdom know how to discover knowledge and understanding, as mentioned in Proverbs 8:12?
In the hours of your day
In the years of your life
In the fear of God
In the pursuit of profit
According to Proverbs 9:11, what will wisdom make more profitable and fruitful?
The hours of your day
The years of your life
The reverence and fear of God
The pursuit of profit
What happens if you scorn wisdom, as stated in Proverbs 9:12?
You hurt yourself only
You hurt others
You gain more knowledge
You become more profitable
According to Proverbs 24:3, how does an enterprise become strong and profitable?
By wise planning and common sense
By holding one's tongue
By listening to father's advice
By committing work to the Lord
What is the core of your business identity?
Brand and corporate DNA
Management focus
Trade and business associations
Technology
Where should you keep your management focus?
ASEAN and the world
Philippines
Operations outside the Philippines
Developing and managing outside the Philippines
Who can provide free advice and help in the international market?
Local and ASEAN business and trade associations
Employees
Customers
Technology
What should you do to communicate your wishes and commitment?
Keep your plans secret
Share your plans
Ignore your plans
Delay your plans
What should you do to keep your employees motivated?
Be generous to them
Ignore them
Replace them
Reduce their salaries
What does AHA Marketing mean?
Aligning marketing strategies with the latest trends
Competing with other companies in the market
Creating innovative products
Focusing on profit above all else
What is the concept of Paradox Marketing?
Combining contradictory concepts to create a dynamic marketing strategy
Using traditional marketing techniques
Ignoring the latest marketing trends
Focusing only on product quality
What is the main goal of Transformative marketing?
Maximizing profit
Creating breakthroughs in marketing
Expanding into global markets
Providing excellent customer service
What does Engagement marketing focus on?
Reaching a large number of customers through social media
Creating emotional connections with customers
Offering excellent service to customers
Collaborating with competitors
What is the key principle of Good-for-All marketing?
Thinking about the needs of the community, customers, and company
Focusing on individual needs only
Ignoring societal and industrial needs
Maximizing profits at any cost
Which form of business organization is owned by only one person?
Partnership
Corporation
Cooperative
Single Proprietorship
In which form of business organization are the profits divided among the partners?
Single Proprietorship
Corporation
Cooperative
Partnership
Which form of business organization is an artificial being created by operation of law?
Cooperative
Partnership
Single Proprietorship
Corporation
In which form of business organization does control reside in the board of trustees?
Corporation
Single Proprietorship
Cooperative
Partnership
Which form of business organization requires a few legal documents with moderate costs?
Single Proprietorship
Partnership
Corporation
Cooperative
What is one of the key factors in making a family business last from generation to generation?
Good cash management
Establishing committed relationships with clients
Controlling inventory
Maintaining the quality of the product
What is an important aspect of maintaining a family business?
Having a continuous supply of raw materials
Being cost efficient
Involving all members of the family
Creating an innovation culture
What should family business owners consider when it comes to their product or service?
The features and design of the product
The price and advertising strategies
The convenience of distribution
All of the above
What is an important factor in ensuring the success of a family business?
Conducting continuing research
Having a brand name with name recall
Enhancing the uniqueness of the business
All of the above
What is a key practice for maintaining a family business?
Agreement on business protocols
Avoidance of conflict of interest issues
Working relationships among partners
All of the above
