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 (C)</p> Signup and view all the answers

What distinguishes successful technopreneurs according to the text?

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

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

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

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

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

Which entrepreneur type copies existing products made by innovative entrepreneurs?

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

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

<p>Drone Entrepreneur (D)</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 (A)</p> Signup and view all the answers

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

<p>Innovative Entrepreneur (D)</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 (A)</p> Signup and view all the answers

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

<p>Likes to innovate (C)</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 (B)</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 (C)</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 (B)</p> Signup and view all the answers

Which process emphasizes establishing demand and competitive market analysis?

<p>Entrepreneurial Process (C)</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 (A)</p> Signup and view all the answers

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

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

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

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

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

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

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

<p>To gather consumer feedback (C)</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 (B)</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 (B)</p> Signup and view all the answers

What is considered as an entrepreneurial resource?

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

During which stage of the entrepreneurial process is implementation focused?

<p>Implementation (D)</p> Signup and view all the answers

What does scaling refer to in the Technopreneurial Process?

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

What does idea generation involve in the entrepreneurial process?

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

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