Entrepreneurship: Identifying Business Opportunities and Managing Risks

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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?

Both economic and social benefits (A) Signup and view all the answers

What do Filipino values favorable to entrepreneurship promote?

Innovation and perseverance (A) Signup and view all the answers

What distinguishes an intrapreneur from other types of entrepreneurs?

Innovating within an established company (A) Signup and view all the answers

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

Developing new technologies and products (B) Signup and view all the answers

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

Inspiring others with a vision (B) Signup and view all the answers

Why do people generally resist innovation according to the text?

Because they prefer the status quo (B) Signup and view all the answers

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

Reacting (C) Signup and view all the answers

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

Study his moves and do groundwork (D) Signup and view all the answers

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

By aligning the organization with the external environment (A) Signup and view all the answers

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

Utang na loob (B) Signup and view all the answers

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

Bahala na (B) Signup and view all the answers

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

Gayagaya (D) Signup and view all the answers

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

Katapatan (B) Signup and view all the answers

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

Pakikipagsapalaran (C) Signup and view all the answers

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

Introducing new products and innovations (B) Signup and view all the answers

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

To provide the initial funding required for business operations (A) Signup and view all the answers

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

Profit is a financial reward for resources put into the venture (C) Signup and view all the answers

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

Minimize risks by systematically analyzing potential outcomes (C) Signup and view all the answers

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

By modernizing the economy through new technologies and industries (B) Signup and view all the answers

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

It contributes to creating more jobs and more income (D) Signup and view all the answers

What is the attitude represented by 'Bahala na'?

Neglecting planning and analytical process (A) Signup and view all the answers

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

Small Enterprise (D) Signup and view all the answers

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

Inadequate cost analysis and financial recording system (B) Signup and view all the answers

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

Believing imported items are superior to locally made products (A) Signup and view all the answers

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

Ability to manage time and learn (B) Signup and view all the answers

What does the 'Crab Mentality' represent in entrepreneurship?

Pulling down fellow entrepreneur (A) Signup and view all the answers