Entrepreneurship Module 1 Assessment

Entrepreneur means "to undertake".

Entrepreneurship is a process of actions of an entrepreneur who is always in search of opportunities.

The greatest significance of entrepreneurship is to help identify and develop the managerial capabilities of entrepreneurs.

Entrepreneurship will lead to the creation of organizations.

Entrepreneurship can improve the life of the entrepreneur only.

Coward people will become successful entrepreneurs.

An entrepreneur is a "Risk Taker".

Entrepreneurship is not an economic activity.

Entrepreneurs are innovative.

Profit potential is the compensation of the entrepreneur.

An entrepreneur can become a business consultant.

An entrepreneur can also be a researcher.

An Entrepreneur can also become a salesman.

Entrepreneurship graduates can become business reporters.

The entrepreneur could easily see the results of his efforts.

Which of the following does not belong to the group?

The entrepreneurs who create new ideas are called

The entrepreneur who lives on the labor of others is called

These are entrepreneurs who are to follow the path shown by innovative entrepreneurs.

The entrepreneur who is skeptical about the changes in the company is called

Which is NOT a career for an entrepreneur?

They are entrepreneurs who drive social innovation and transformation in various fields.

Which of the statements below is true?

Which of the statements is NOT true?

Which of the following is NOT true?

An entrepreneur enters a business because of its profitability.

New business ideas provide business opportunities.

The entrepreneurial process starts with identification of entrepreneurial opportunities.

Not all changes in the external environment provides business opportunities.

Discovery and advancement in the use of technology are additional good sources of business opportunities.

Interest and hobbies of the people are possible good sources of entrepreneurial ideas.

The industry environment of the business is under technological discovery and advacement sources of opportunities.

The variables in the physical environment include the economic forces.

Entrepreneurial heart flame refers to the ability of the entrepreneur to sense without using the five senses.

Entrepreneurial mind frame permits the entrepreneur to see things in a very positive and optimistic light.

The business operates in the industry environment.

Opening a Halo – halo business during summer season is ideal.

Environmental scanning is conducted only when a new business is opened.

When the barriers to the competitive forces are high, the effect to the growth of the business is likewise high.

Which of the following is an example of a substitute product?

Match the following elements of the external environment with their corresponding descriptions:

The priorities, projects, programs, and policies of the government are also good sources of ideas.

Which of the following is NOT a factor included in the five forces of competition?

The threat of new entrants to the market is reduced when there are high capital requirements for entering the industry.

Which of the following is NOT a source of entrepreneurial ideas?

What does 'entrepreneurial gut game' refer to?

Explain why the five forces of competition model is important for entrepreneurs.

The entrepreneurial process is a linear, straightforward process that can be easily replicated.

Entrepreneurial heart flame is a driving force that fuels an entrepreneur's passion for their endeavors.

What is the significance of identifying potential new entrants to the market?

Explain the concept of 'economies of scale'.

The threat of substitute products is greater when the switching costs for consumers are high.

Which of the following is NOT a core competency of entrepreneurship?

The entrepreneurial process is characterized by its iterative nature, requiring entrepreneurs to frequently adapt and refine their plans and actions.

Which of the following is a typical sign that the market is saturated?

Identifying potential new entrants is an important aspect of understanding the competitive landscape in your industry.

Government regulations and policies typically have no impact on the entrepreneurial process.

The cost of switching to a substitute product is irrelevant to the competitive landscape in an industry.

Market research is essential for entrepreneurs to understand their target market and to identify opportunities.

Entrepreneurial gut game is based on rational decision-making, relying heavily on data and analysis.

High switching costs often discourage consumers from switching to substitute products.

The entrepreneurial process is an ongoing cycle of identifying opportunities, developing plans, and adapting to changing circumstances.

'Risk bearing' is a crucial element in entrepreneurship, as it involves taking calculated risks to develop and grow a business.

What can entrepreneurs do to mitigate the threat of substitute products?

Which of the following is NOT a factor to consider when evaluating the competitive landscape in an industry?

Identifying a profitable niche market can help entrepreneurs overcome the barriers to entry and build a successful business.

Entrepreneurial heart flame refers to a business's financial stability and its ability to generate profits.