Entrepreneurial Business Planning Quiz
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Questions and Answers

What is the main focus of commercialization?

  • Product development
  • Market penetration (correct)
  • Customer support
  • Employee training

    • Which activities are part of commercialization?

  • Recruitment, training, payroll management
  • Manufacturing, inventory management, quality control
  • Legal services, IT support, customer feedback
  • Production, distribution, marketing (correct)

    • Why is Monitoring and Evaluation important in business?

  • To increase employee benefits
  • To diagnose problems and improve performance (correct)
  • To decrease production costs
  • To reduce taxes

    • Which Philippine province is mentioned as the birthplace of Diosdado 'Dado' Banatao?

    <p>Cagayan Valley</p> Signup and view all the answers

    What distinguishes successful technopreneurs according to the text?

    <p>Intelligence, great ideas, innovations</p> Signup and view all the answers

    Which aspect of commercialization helps in reaching out the vision and value of products?

    <p>Video production</p> Signup and view all the answers

    Which type of entrepreneur thrives on discovering and developing new products and ideas?

    <p>Innovative Entrepreneur</p> Signup and view all the answers

    Which entrepreneur type copies existing products made by innovative entrepreneurs?

    <p>Imitating Entrepreneur</p> Signup and view all the answers

    Which entrepreneur type is reluctant to change even in the face of financial losses?

    <p>Drone Entrepreneur</p> Signup and view all the answers

    Which entrepreneur type is skeptical about making changes without being satisfied with the outcome in the market?

    <p>Fabian Entrepreneur</p> Signup and view all the answers

    Which entrepreneur type enjoys challenges and is willing to take risks in new innovations?

    <p>Innovative Entrepreneur</p> Signup and view all the answers

    Which entrepreneur type is characterized by being happy with the current state of their business, even in the presence of financial losses?

    <p>Drone Entrepreneur</p> Signup and view all the answers

    What is a key characteristic that differentiates an entrepreneur from a technopreneur?

    <p>Likes to innovate</p> Signup and view all the answers

    Which of the following is a characteristic of an entrepreneur based on the text?

    <p>Takes failure in stride</p> Signup and view all the answers

    What is emphasized during the Opportunity Analysis phase of the Entrepreneurial Process?

    <p>Establishing demand and competitive market analysis</p> Signup and view all the answers

    What is a common feature between entrepreneurs and technopreneurs mentioned in the text?

    <p>Part of a team</p> Signup and view all the answers

    Which process emphasizes establishing demand and competitive market analysis?

    <p>Entrepreneurial Process</p> Signup and view all the answers

    What is a primary motivator for technopreneurs according to the text?

    <p>Strong vision and passion for innovation</p> Signup and view all the answers

    What process evaluates and contrasts new prospective ideas for a business?

    <p>Idea Screening</p> Signup and view all the answers

    Which process involves testing new or hypothetical products/services before their launch?

    <p>Concept Testing</p> Signup and view all the answers

    What is the main focus of Business Analysis in the context mentioned?

    <p>Improving management processes</p> Signup and view all the answers

    Which phase involves designing the product to show its functionalities and specifications based on prior analysis?

    <p>Prototyping</p> Signup and view all the answers

    What is the purpose of Test Marketing as described in the text?

    <p>To gather consumer feedback</p> Signup and view all the answers

    Which step involves experimenting with the product's viability in actual stores and real-life buying scenarios?

    <p>Test Marketing</p> Signup and view all the answers

    What is a key component of a business plan according to the text?

    <p>Future goals and how to achieve them</p> Signup and view all the answers

    What is considered as an entrepreneurial resource?

    <p>Technology, networks of contacts, and publicity</p> Signup and view all the answers

    During which stage of the entrepreneurial process is implementation focused?

    <p>Implementation</p> Signup and view all the answers

    What does scaling refer to in the Technopreneurial Process?

    <p>Challenges faced during rapid growth</p> Signup and view all the answers

    Which resources are essential for a business according to the text?

    <p>Physical, intellectual, human, and financial resources</p> Signup and view all the answers

    What does idea generation involve in the entrepreneurial process?

    <p>Developing and communicating ideas</p> Signup and view all the answers

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