Online Entrepreneurship: Supporting Creative Small Businesses Quiz

What is online entrepreneurship?

Focusing solely on local customers
Selling products only in physical stores
Utilizing traditional marketing techniques
Creating, managing, and growing a business venture through online platforms (correct)

How does the text describe the impact of the COVID-19 pandemic on online entrepreneurship?

It has increased overhead costs for online entrepreneurs
It has decreased the popularity of online entrepreneurship in the Philippines
It has accelerated the shift to online channels (correct)
It has had no effect on online entrepreneurship

What are examples of online marketplaces mentioned in the text?

Traditional physical stores only
Twitter and Pinterest
Shopee, Lazada, Zalora (correct)
Facebook and Instagram

Why is online entrepreneurship popular in the Philippines, according to the text?

Minimal overhead costs and low entry barriers (D) Signup and view all the answers

What does online entrepreneurship involve leveraging, as per the text?

Digital tools and technologies (D) Signup and view all the answers

Which activity is NOT mentioned as an example of online entrepreneurship in the text?

Traditional craftsmanship (A) Signup and view all the answers

What distinguishes small business entrepreneurship from social entrepreneurship?

Solving social and environmental issues (D) Signup and view all the answers

Which of the following best describes the nature of small businesses mentioned in the text?

Independently owned with limited resources (C) Signup and view all the answers

What distinguishes Bayani Brew as a social entrepreneurship venture?

Producing organic teas while providing livelihood opportunities (C) Signup and view all the answers

Which characteristic helps small businesses succeed in a competitive market according to the text?

Effectively managing resources (C) Signup and view all the answers

What is the main driver for social entrepreneurs according to the text?

Creating positive social impact (B) Signup and view all the answers

Which type of entrepreneurship in the text emphasizes innovation in business solutions?

Social entrepreneurship (C) Signup and view all the answers

Why is it important to understand the different types of entrepreneurship?

To identify the suitable business type that aligns with skills, resources, and goals. (D) Signup and view all the answers

How can understanding different types of entrepreneurship enhance an individual's chances of success?

By empowering individuals to make informed decisions. (A) Signup and view all the answers

What unique aspects do different types of entrepreneurship possess?

Each type has its own characteristics, advantages, and challenges. (A) Signup and view all the answers

How does understanding entrepreneurship types relate to the Philippine business landscape?

It helps in spotting emerging trends and understanding the market. (C) Signup and view all the answers

What role does understanding different types of entrepreneurship play in creating effective business plans?

It aids in creating tailored strategies based on industry trends. (B) Signup and view all the answers

How can knowledge about various types of entrepreneurship impact an individual's chances of success?

It empowers individuals to make informed decisions and increases success chances. (C) Signup and view all the answers

What is the main difference between freelancing and franchise entrepreneurship?

Freelancing involves offering services online, while franchise entrepreneurship uses an established company's branding. (B) Signup and view all the answers

What does the franchisee pay the franchisor for in franchise entrepreneurship?

Ongoing royalties (A) Signup and view all the answers

How does franchise entrepreneurship increase the chances of success for the franchisee?

By using an established brand and proven business model (C) Signup and view all the answers

Which of the following is an example of franchise entrepreneurship in the Philippines?

Jollibee - a fast food chain (D) Signup and view all the answers

What kind of support does the franchisor provide to the franchisee in franchise entrepreneurship?

Operational assistance and marketing support (D) Signup and view all the answers

How does freelancing differ from affiliate marketing?

Freelancing involves offering services online, while affiliate marketing focuses on promoting products through social media. (A) Signup and view all the answers

What is intrapreneurship?

A type of entrepreneurship where employees act like entrepreneurs within a company (C) Signup and view all the answers

How does intrapreneurship benefit companies?

By fostering a culture of creativity and innovation within the company (D) Signup and view all the answers

Which fast-food chain in the Philippines is mentioned as an example of intrapreneurship?

Jollibee (A) Signup and view all the answers

What are some popular menu items created through intrapreneurship at Jollibee?

Chickenjoy and Jolly Spaghetti (B) Signup and view all the answers

Which global consumer goods company in the Philippines is mentioned as an example of intrapreneurship?

Procter & Gamble (B) Signup and view all the answers

What successful products have been launched in the Philippines through intrapreneurship at Procter & Gamble?

Safeguard soap and Pantene shampoo (D) Signup and view all the answers