Types of Entrepreneurship: Small Business
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Questions and Answers

What is the main focus of Social Entrepreneurship?

  • Operating large companies
  • Innovating new technologies
  • Maximizing profits
  • Producing products and services to address social needs (correct)
  • Which skill is NOT emphasized as a key skill for entrepreneurs?

  • Programming Skills (correct)
  • Networking
  • Finance Skills
  • Speaking Confidently
  • What type of entrepreneur starts a business with the belief that their vision can change the world?

  • Scalable Startup Entrepreneur (correct)
  • Small Business Entrepreneur
  • Large Company Entrepreneur
  • Social Entrepreneur
  • Which aspect is NOT listed as a socio-economic benefit from entrepreneurship?

    <p>Overconsumption Promotion</p> Signup and view all the answers

    Which of the following is NOT a characteristic of an entrepreneur based on the provided text?

    <p>Mechanical Skills</p> Signup and view all the answers

    What makes Large Company Entrepreneurship different from Scalable Startup Entrepreneurship?

    <p>Size of the company</p> Signup and view all the answers

    What is one of the important characteristics that an individual must possess to perform entrepreneurial functions effectively?

    <p>Risk-taking</p> Signup and view all the answers

    Which factor is NOT part of the CROPPIES G model for assessing personal entrepreneurial qualities?

    <p>Creativity &amp; Innovation</p> Signup and view all the answers

    What characteristic did Lance Gokongwei, the president and CEO of Cebu Pacific, emphasize in accomplishing tasks effectively?

    <p>Goal Setting</p> Signup and view all the answers

    What is one key function that Ideation serves in the entrepreneurial process?

    <p>Generating New Ideas</p> Signup and view all the answers

    Which characteristic did Henry Sy, the founder of SM Group, exhibit by tolerating uncertainties and situations with no guarantee?

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

    Which quality is NOT mentioned as important for an individual to succeed in entrepreneurial endeavors?

    <p>Market Research Skills</p> Signup and view all the answers

    What is the main purpose of angel investors in providing capital to startups or small businesses?

    <p>To take ownership of the business</p> Signup and view all the answers

    Which type of business organization involves an association of two or more business partners with limited financial liability?

    <p>General partnership</p> Signup and view all the answers

    In which form of business organization does a person manage all operations and assume full financial responsibility?

    <p>Sole Proprietorship</p> Signup and view all the answers

    What is the purpose of venture capital being raised by investors pooling their money?

    <p>To provide funds for high-potential startups</p> Signup and view all the answers

    Which term refers to the total amount of funds needed by a firm to achieve its profit goals?

    <p>Capital requirement</p> Signup and view all the answers

    What does start-up capital refer to in the context of business operations?

    <p>Funds necessary to keep the business running until it breaks even</p> Signup and view all the answers

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