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WorksheetsENTREPRENEURSHIP_REVIEW TEST
Total questions: 41
Worksheet time: 30mins
Entrepreneurs enter a business because of its profitability.
TRUE
FALSE
New business ideas provide business opportunities.
TRUE
FALSE
Entrepreneurial process starts with identification of entrepreneurial opportunities.
TRUE
FALSE
Not all changes in the external environment provides business opportunities.
FALSE
TRUE
Discovery and advancement in the use of technology are additional good source of business opportunities.
TRUE
FALSE
Interest and hobbies of the people are possible good source of entrepreneurial ideas.
TRUE
FALSE
Industry environment of business is under technological discovery and advancement sources of opportunities.
TRUE
FALSE
The variables in the physical environment include the economic forces.
TRUE
FALSE
Entrepreneurial heart flame refers to the ability of the entrepreneurto sense without using the five senses.
TRUE
FALSE
Entrepreneurial mind frame permits the entrepreneur to see things in a very positive and optimistic light.
TRUE
FALSE
The business operates in the industry environment.
TRUE
FALSE
Opening a Halo – halo business during summer seasons.
TRUE
FALSE
Environmental scanning is conducted only when a new business is opened.
TRUE
FALSE
When the barriers to the competitive forces are high, the effect to the growth of the business is likewise high.
TRUE
FALSE
Entrepreneurs need not observe and evaluate the priorities of the government.
FALSE
TRUE
Mr. Cruz sees things in a very positive and optimistic way in the midst of difficult situation.
Entrepreneurial heart flame
Entrepreneurial gut game
Entrepreneurial mind frame
You are being intuitive.
Entrepreneurial heart flame
Entrepreneurial gut game
Entrepreneurial mind frame
refers to the physical environment, societal environment, and industry environment where the business operates.
External environment
Changes in the environment
Sources of Opportunities
The Societal environment includes the various forces like
Political forces
Economic forces
Sociocultural forces
Technological environment
Wildlife
The physical environment includes
Climate
Natural resources
Wildlife
lifestyles
Sociocultural
The industry environment of the business includes
Competitors
Customers
Government
Creditors
RISK-TAKING ABILITIES
•OUT-OF-THE-BOX THINKING AND CREATIVITY
• PROBLEM-SOLVING ABILITIES
• TAKING INITIATIVE
• PERSISTENCE
(a)
The expertise and skills developed by a person who has worked in a particular field may lead to the opening of related business enterprise.
(a)
The interest, hobbies, and preferences of people are rich source of entrepreneurial ideas.
(a)
A person with entrepreneurial interest sees possibility of business opportunities in any new discovery or because of the use of latest technology.
(a)
IS A SET OF SKILLS AND BEHAVIOR NEEDED TO CREATE, DEVELOP, MANAGE, AND GROW A BUSINESS VENTURE.
(answer must be in capital)
(a)
•INITIATIVE •PROACTIVE •PROBLEM SOLVER •PERSEVERANCE
(answer must be in capital)
(a)
•POLITICAL, •CLIMATE, •LEGAL SYSTEM, •ECONOMIC AND SOCIAL CONDITIONS, AND •MARKET SITUATIONS.
(answer must be in capital)
(a)
AN ENTREPRENEUR MUST BE FIRM IN MAKING DECISIONS.
(a)
THE ENTREPRENEURS HAVE BIG BUSINESS IDEAS AND THEY DO NOT STOP IMPROVING AND THINKING O F NEW WORTHWHILE IDEAS FOR THEIR BUSINESS.
(a)
•Refers to the economic activity of a person who starts, manages, and assumes the risk of a business enterprise.
(a)
•An enterprise is created by entrepreneur; the process of its creation is called (a) .
•INNOVATIVE ENTREPRENEUR •IMITATING ENTREPRENEURS •FABIAN ENTREPRENEURS •DRONE ENTREPRENEUR •SOCIAL ENTREPRENEUR
(a)
land, capital, entrepreneur, labor are example of
factors of production
economic reward
limiting factor for rewards received
rent, interest, salary, profit
factors of production
economic rewards
limiting factors for rewards received
supply and demand, industry rates, skills of entrepreneur
factors of production
economic rewards
limiting factors for reward received
3 major clusters of entrepreneurial characteristics
(a)
directly related to the entrepreneur's desire to be an achiever in the field.
1.1 an opportunity-seeker
1.2 committed
1.3 persistent
1.4 a risk-taker
1.5 efficienct and quality-oriented
(a)
Supports the character traits in the achievement cluster.
1.goal-setter
2.an information-seeker
3.systematic in planning and monitoring
(a)
reflect the degree of the interpersonal relations
1.persuasive and positive networkers
2.self-confidence
(a)
A businessman established a business with an (a) . While an entrepreneur is an individual having an exclusive idea to initiate something new to bring change into the world.
