Entrepreneurship: Identifying Business Opportunities and Managing Risks
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Questions and Answers

What are the types of resources required by an entrepreneur to establish and run a new enterprise?

  • Land and buildings
  • Machinery and materials
  • Workers and customers (correct)
  • Managers and money

    • Who is a Social Entrepreneur?

  • A solo entrepreneur working independently
  • An intrapreneur working within a company
  • A provider of products/services aiming for social benefit (correct)
  • A manufacturer focusing on mass production

    • Which type of entrepreneur is concerned with starting a new enterprise when the current one is successful?

  • Trader
  • Specialty Service Entrepreneur
  • Serial Entrepreneur (correct)
  • Franchisee

    • What are the primary contributions of an entrepreneur?

    <p>Both economic and social benefits</p> Signup and view all the answers

    What do Filipino values favorable to entrepreneurship promote?

    <p>Innovation and perseverance</p> Signup and view all the answers

    What distinguishes an intrapreneur from other types of entrepreneurs?

    <p>Innovating within an established company</p> Signup and view all the answers

    What is one of the main responsibilities of an entrepreneur according to the text?

    <p>Developing new technologies and products</p> Signup and view all the answers

    What is a key characteristic of an entrepreneur's role in terms of visioning?

    <p>Inspiring others with a vision</p> Signup and view all the answers

    Why do people generally resist innovation according to the text?

    <p>Because they prefer the status quo</p> Signup and view all the answers

    Which function is NOT part of an entrepreneur's managerial role according to the text?

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

    What does an entrepreneur do before implementing new ideas according to the text?

    <p>Study his moves and do groundwork</p> Signup and view all the answers

    How does an entrepreneur align his organization with the environment according to the text?

    <p>By aligning the organization with the external environment</p> Signup and view all the answers

    What term in Filipino culture represents a sense of community cooperation and unity?

    <p>Utang na loob</p> Signup and view all the answers

    Which concept in entrepreneurship involves the act of taking calculated risks?

    <p>Bahala na</p> Signup and view all the answers

    Which term refers to the Filipino trait of imitation or copying as a way to prepare for entrepreneurship?

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

    What promotes ethical business practices and sincere intentions when dealing with others?

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

    Which Filipino trait is characterized by a high sense of adventure and excitement for new experiences?

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

    What is a key characteristic of an entrepreneur according to the text?

    <p>Introducing new products and innovations</p> Signup and view all the answers

    Why is capital important for starting a business, as per the text?

    <p>To provide the initial funding required for business operations</p> Signup and view all the answers

    What is the significance of profit in a business, based on the text?

    <p>Profit is a financial reward for resources put into the venture</p> Signup and view all the answers

    What does an entrepreneur do in terms of risks, according to the text?

    <p>Minimize risks by systematically analyzing potential outcomes</p> Signup and view all the answers

    How does entrepreneurship contribute to the economy, as mentioned in the text?

    <p>By modernizing the economy through new technologies and industries</p> Signup and view all the answers

    What role does entrepreneurship play in employment generation according to the text?

    <p>It contributes to creating more jobs and more income</p> Signup and view all the answers

    What is the attitude represented by 'Bahala na'?

    <p>Neglecting planning and analytical process</p> Signup and view all the answers

    What type of enterprise has 10 to 99 employees according to the classification provided?

    <p>Small Enterprise</p> Signup and view all the answers

    What is a common cause of enterprise failure as mentioned in the text?

    <p>Inadequate cost analysis and financial recording system</p> Signup and view all the answers

    What does 'Colonial Mentality' refer to in the context of the text?

    <p>Believing imported items are superior to locally made products</p> Signup and view all the answers

    Which personal entrepreneurial competency involves the 'Ability to manage time and learn'?

    <p>Ability to manage time and learn</p> Signup and view all the answers

    What does the 'Crab Mentality' represent in entrepreneurship?

    <p>Pulling down fellow entrepreneur</p> Signup and view all the answers

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