Entrepreneurial Business Planning Quiz

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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?

Cagayan Valley Signup and view all the answers

What distinguishes successful technopreneurs according to the text?

Intelligence, great ideas, innovations Signup and view all the answers

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

Video production Signup and view all the answers

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

Innovative Entrepreneur Signup and view all the answers

Which entrepreneur type copies existing products made by innovative entrepreneurs?

Imitating Entrepreneur Signup and view all the answers

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

Drone Entrepreneur Signup and view all the answers

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

Fabian Entrepreneur Signup and view all the answers

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

Innovative Entrepreneur 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?

Drone Entrepreneur Signup and view all the answers

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

Likes to innovate Signup and view all the answers

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

Takes failure in stride Signup and view all the answers

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

Establishing demand and competitive market analysis Signup and view all the answers

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

Part of a team Signup and view all the answers

Which process emphasizes establishing demand and competitive market analysis?

Entrepreneurial Process Signup and view all the answers

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

Strong vision and passion for innovation Signup and view all the answers

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

Idea Screening Signup and view all the answers

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

Concept Testing Signup and view all the answers

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

Improving management processes Signup and view all the answers

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

Prototyping Signup and view all the answers

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

To gather consumer feedback Signup and view all the answers

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

Test Marketing Signup and view all the answers

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

Future goals and how to achieve them Signup and view all the answers

What is considered as an entrepreneurial resource?

Technology, networks of contacts, and publicity Signup and view all the answers

During which stage of the entrepreneurial process is implementation focused?

Implementation Signup and view all the answers

What does scaling refer to in the Technopreneurial Process?

Challenges faced during rapid growth Signup and view all the answers

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

Physical, intellectual, human, and financial resources Signup and view all the answers

What does idea generation involve in the entrepreneurial process?

Developing and communicating ideas Signup and view all the answers