WorksheetsMidterm Examination: The Entrepreneurial Mind
Total questions: 46
Worksheet time: 1hrs 9mins
It is a multifaceted concept that encompasses the ability to generate new ideas, solutions, and expressions.
A. PRINCIPLE OF INNOVATION
B. PRINCIPLE OF CREATIVITY
C. ENTREPRENEURIAL PROCESS
It is a principle that is associated with how one approaches a problem or difficult situation. It involves finding a unique and creative solution to any unanswered question or problem.
A. PRINCIPLE OF INNOVATION
B. PRINCIPLE OF CREATIVITY
C. ENTREPRENEURIAL PROCESS
Entrepreneurs generate ideas and recognize opportunities.
A. PRINCIPLE OF INNOVATION
B. PRINCIPLE OF CREATIVITY
C. ENTREPRENEURIAL PROCESS
The idea is to keep your products and their designs simple, functional and uncluttered. It is not always elaborate; it can also lie in simplicity.
A. PRINCIPLE OF INNOVATION
B. PRINCIPLE OF CREATIVITY
C. ENTREPRENEURIAL PROCESS
A comprehensive analysis of your target market, including its size, growth potential, trends, and competition.
A. PRINCIPLE OF INNOVATION
B. PRINCIPLE OF CREATIVITY
C. ENTREPRENEURIAL PROCESS
This means intellectual knowledge, procedural knowledge, technical knowledge all combined together.
A. PRINCIPLE OF INNOVATION
B. PRINCIPLE OF CREATIVITY
C. ENTREPRENEURIAL PROCESS
Entrepreneurs need to widen their visions which allows them to see the potential in things that other people cannot see.
A. PRINCIPLE OF INNOVATION
B. PRINCIPLE OF CREATIVITY
C. ENTREPRENEURIAL PROCESS
Motivation is the driving force behind an individual.
A. PRINCIPLE OF INNOVATION
B. PRINCIPLE OF CREATIVITY
C. ENTREPRENEURIAL PROCESS
Creating an emotional bond with your customers will ensure they have great experiences with your product and your brand.
A. PRINCIPLE OF INNOVATION
B. PRINCIPLE OF CREATIVITY
C. ENTREPRENEURIAL PROCESS
The process in which entrepreneurs acquire financial resources.
A. PRINCIPLE OF INNOVATION
B. PRINCIPLE OF CREATIVITY
C. ENTREPRENEURIAL PROCESS
It's the force behind artistic masterpieces, scientific breakthroughs, and everyday problem-solving.
Creativity
Innovation
Expertise
Critical thinking
It encompasses the creation and implementation of new ideas, products, processes, and services that bring value to individuals, organizations, and society as a whole.
Creativity
Innovation
Expertise
Critical thinking
It encompasses the creation and implementation of new ideas, products, processes, and services that bring value to individuals, organizations, and society as a whole.
Creativity
Innovation
Expertise
Critical thinking
This stage details about your business, its legal structure, ownership, and management team.
Resourcing
Harvesting
Actualization
Concept Development
This stage details the proposal describing your business idea.
Resourcing
Harvesting
Actualization
Concept Development
New and creative ideas come to people who follow their passions with hard work and persistence.
Put a dent in the universe
Do what you love
Kick start your brain
Sell dreams not products
Creativity was about connecting things. This means we must seek innovation and creative ideas from other industries as well.
Put a dent in the universe
Do what you love
Kick start your brain
Sell dreams not products
The idea is to make the customers feel a part of the company, part of something bigger. Innovate the products that facilitate people in achieving their dreams.
Do what you love
Master the message
Sell dreams not products
Put a dent in the universe
Creating an emotional bond with your customers through innovation will ensure they have good time with your product and your brand.
Create great experiences
Create emotional connection
Create great satisfaction
Master the message
It is the desire that pushes a person to initiate any action or behaviour or sustain such behaviour as well.
Innovation
Creativity
Expertise
Critical thinking
This is the stage where you engage with your potential customers to understand their needs and wants.
Concept Development
Acquisition Stage
Harvesting
Discovery
This is the stage where it helps you understand your competitive advantage and potential challenges.
Concept Development
Acquisition Stage
Harvesting
Discovery
This is composed of five (5) stages in developing a business plan
Entrepreneurial Development
Entrepreneurial Activities
Entrepreneurial Process
Entrepreneurial Intention
The act of introducing something new or different.
Innovation
Imagination
Originality
Problem Solving
Conceptualizing new solutions, products, or approaches to existing problems.
Imagination
Idea Generation
Implementation
Concept Development
Identify the context or stages where the following entrepreneurial process is conducted.
26.GRAND OPENING
A. Discovery
B. Concept Development
C. Resourcing
D. Actualization
E. Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
27. Future Venture
A. Discovery
B. Concept Development
C. Resourcing
D. Actualization
E. Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
28. Day to Day Operations
A. Discovery
B. Concept Development
C. Resourcing
D. Actualization
E. Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
29. Financial Projections
A. Discovery
B. Concept Development
C. Resourcing
D. Actualization
E. Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
30.Market Analysis
Discovery
Concept Development
Resourcing
Actualization
Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
31.Study Demographics
Discovery
Concept Development
Resourcing
Actualization
Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
32. Trends and Competition
Discovery
Concept Development
Resourcing
Actualization
Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
33.Human Resources
Discovery
Concept Development
Resourcing
Actualization
Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
34. Five or Ten Year Plan
A. Discovery
B. Concept Development
C. Resourcing
D. Actualization
E. Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
35.Generate Ideas
A. Discovery
B. Concept Development
C. Resourcing
D. Actualization
E. Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
36.Implementation of Ideas
A. Discovery
B. Concept Development
C. Resourcing
D. Actualization
E. Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
37.SWOT Analysis
A. Discovery
B. Concept Development
C. Resourcing
D. Actualization
E. Harvesting
Identify the context or stages where the following entrepreneurial process is conducted.
38.Identify Potential Investors
Discovery
Concept Development
Resourcing
Actualization
Harvesting
Management Team
A. Discovery
B. Concept Development
C. Resourcing
D. Actualization
E. Harvesting
40.Test the Market
A. Discovery
B. Concept Development
C. Resourcing
D. Actualization
E. Harvesting
Consider skills or hobbies
Discovery
Concept Development
Resourcing
Actualization
Harvesting
Conduct surveys
Discovery
Concept Development
Resourcing
Actualization
Harvesting
Choose business location
Discovery
Concept Development
Resourcing
Actualization
Harvesting
Company description
Discovery
Concept Development
Resourcing
Actualization
Harvesting
Acquire capital
Discovery
Concept Development
Resourcing
Actualization
Harvesting
Bonus question (5 points): I think outside the box, then build a new one. What am I? (a)
