Entrepreneurship Career Opportunities Quiz
21 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What term describes an individual who has generated substantial value and profits from innovations in a very short period of time?

  • Umpreneur
  • Serial entrepreneur (correct)
  • Intrapreneur
  • Micropreneur
  • Which entrepreneur is known for founding Lamoiyan Corporation?

  • Tony Tan Caktiong
  • Cecilio Pedro (correct)
  • Alfredo Yao
  • Lucio Tan
  • What is the term used to describe individuals who start small businesses with very little capital?

  • Mezzoentrepreneurs
  • Macroentrepreneurs
  • Microentrepreneurs (correct)
  • Megaentrepreneurs
  • Which entrepreneur is associated with Philippine Airlines and Brewery?

    <p>Lucio Tan</p> Signup and view all the answers

    What term refers to individuals within a large organization who take direct responsibility for turning an idea into a profitable finished product?

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

    What is the focus of the social and cultural school of thought in entrepreneurship?

    <p>External factors and conditions shaping the entrepreneur</p> Signup and view all the answers

    Which traits are common to successful entrepreneurs according to the micro schools of thought?

    <p>Proactive personality, tenacity, need for achievement</p> Signup and view all the answers

    What is the primary focus of the financial/capital school of thought?

    <p>How to seek seed capital and growth funds</p> Signup and view all the answers

    What is the importance of strategic formulation in entrepreneurship?

    <p>Leveraging unique elements to form a venture</p> Signup and view all the answers

    What do displacement factors refer to in the context of entrepreneurship?

    <p>Factors that prevent a person from doing other activities due to group membership</p> Signup and view all the answers

    Which school of thought focuses on natural systems and constraints related to entrepreneurship?

    <p>Ecological school of thought</p> Signup and view all the answers

    What is the main difference between business entrepreneurs and social entrepreneurs?

    <p>Business entrepreneurs are driven by a profit motive, while social entrepreneurs have a mission to fill gaps in the market.</p> Signup and view all the answers

    Which type of entrepreneur is more likely to constantly innovate for market share?

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

    What is the key characteristic of an enterprising mindset?

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

    Which stage of the entrepreneurial process involves carrying out the business plan and confronting rivals?

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

    What is the main focus of social entrepreneurs when compared to small-business owners?

    <p>Filling gaps left by the market or the public sector</p> Signup and view all the answers

    Which factor does not affect the entrepreneurial journey according to the text?

    <p>Stress management skills</p> Signup and view all the answers

    What is a key source of business ideas according to the text?

    <p>'Discovery' stage of entrepreneurship process</p> Signup and view all the answers

    Which category of entrepreneur requires being highly educated and tech-savvy for their concepts?

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

    What is an essential part of recognizing entrepreneurial opportunities according to the text?

    <p>Having personal traits like imagination and initiative</p> Signup and view all the answers

    Which statement best describes the relationship between risk appetite and entrepreneurship?

    <p>Entrepreneurs with high risk appetite are willing to take risks to create value.</p> Signup and view all the answers

    Study Notes

    Key Terms in Entrepreneurship

    • Unicorn: An individual who generates substantial value and profits from innovations in a very short period.
    • Small Business Entrepreneur: Individuals who start small businesses with minimal capital.

    Notable Entrepreneurs

    • Dr. Cecilio K. Pedro: Founder of Lamoiyan Corporation.
    • Lucio Tan: Entrepreneur associated with Philippine Airlines and Tanduay Brewery.

    Roles and Responsibilities

    • Intrapreneur: Individuals within a large organization who directly manage the process of turning ideas into profitable products.

    Schools of Thought in Entrepreneurship

    • Social and Cultural School: Focuses on the impact of social and cultural environments on entrepreneurship.
    • Micro Schools: Highlight traits common to successful entrepreneurs; innovation, resilience, and adaptability.
    • Financial/Capital School: Primarily focuses on the investment and financial aspects of entrepreneurship.
    • Natural Systems School: Studies systems and constraints that affect entrepreneurship.

    Entrepreneurial Characteristics and Process

    • Business Entrepreneurs vs. Social Entrepreneurs: Business entrepreneurs typically focus on profit, while social entrepreneurs prioritize social change and community welfare.
    • Innovative Entrepreneurs: More likely to innovate consistently to gain market share.
    • Enterprising Mindset: Key characteristic includes a proactive approach to recognizing and seizing opportunities.
    • Entrepreneurial Process: The stage where business plans are executed and competition is faced.

    Focus Areas of Different Entrepreneurs

    • Social Entrepreneurs: Focus on addressing social issues compared to small-business owners who may prioritize financial stability.

    Influences on Entrepreneurship

    • Displacement Factors: Refer to external forces that create disruptions leading to entrepreneurial opportunities.
    • Educational and Technological Requirements: Certain entrepreneur categories need high education and tech-savviness for their innovative concepts.

    Recognizing Opportunities

    • Key Sources of Business Ideas: Identifying challenges in the environment can lead to new business opportunities.
    • Risk Appetite: There is a direct relationship between an individual's willingness to take risks and their success in entrepreneurship.

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Description

    Test your knowledge on various career/job opportunities available for individuals with an entrepreneurship degree, ranging from mid-level management and business consulting to teaching and business reporting. Learn about different types of entrepreneurs and the progression of economies based on entrepreneurship.

    More Like This

    Use Quizgecko on...
    Browser
    Browser