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Entrepreneurship: Establishing the Enterprise

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Entrepreneurship: Establishing the Enterprise

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Questions and Answers

What is a key factor that the purpose of an enterprise must have according to the text?

Be altruistic and selfless

Be unclear and ambiguous

Be compelling enough to motivate the entrepreneur (correct)

Be financially lucrative

What aspect of a business concept is emphasized in the text as important for establishing an enterprise?

Being complex and difficult to understand

Having a memorable brand name (correct)

Being conventional and familiar

Focusing on short-term gains only

In the context of entrepreneurship, what is meant by 'a company of angels' as mentioned in the text?

A team composed entirely of family members

An enterprise that focuses on charitable activities

A group of investors with high financial demands

Partners who are well-meaning and like-minded (correct)

What is a key purpose of a good business plan?

To communicate what the enterprise is all about (C) Signup and view all the answers

What does the term 'MSME' stand for based on the text?

Micro, Small, Medium Enterprises (C) Signup and view all the answers

Why is having a very clear purpose emphasized in entrepreneurship?

To motivate and drive the entrepreneur (A) Signup and view all the answers

What was the most significant financial problem for enterprises during the pandemic based on the survey conducted by ADB?

Paying staff wages and social security charges (D) Signup and view all the answers

Which sector was most adversely affected by the pandemic according to the ADB survey findings?

Wholesale and retail trade (D) Signup and view all the answers

According to Fortune Business Insight, how much has the value of Instant Ramen increased from 600 million?

Tens of billions of dollars (B) Signup and view all the answers

Which spending category in the Philippines experienced the largest growth post-pandemic according to Euromonitor?

Leisure and recreation (C) Signup and view all the answers

What is a common characteristic of successful entrepreneurs from the new generation as outlined in the text?

Acting quickly and making immediate decisions (B) Signup and view all the answers

What trait did Lim Bee Huat, featured in the text, exhibit as an entrepreneur?

Passion to succeed (C) Signup and view all the answers