Questions and Answers
What is the primary goal of an entrepreneur?
Entrepreneurship decreases poverty.
True
What is a key characteristic of an entrepreneur compared to a business individual?
Innovative
Entrepreneurs create opportunities and ensure social __________.
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Match the following terms to their correct descriptions:
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Which of the following is NOT a relevance of entrepreneurship to SHS students?
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Entrepreneurs focus on a low risk margin.
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What does entrepreneurship education promote among students?
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What is the primary role of an entrepreneur?
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Entrepreneurship involves only low-risk business activities.
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Define entrepreneurship in one sentence.
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An entrepreneur is someone who organizes and operates a business venture while assuming the _____ of that business.
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What is one key outcome of entrepreneurship?
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Match the following concepts with their correct definitions:
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All business individuals are considered entrepreneurs.
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What does the term 'entrepreneur' derive from?
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Which group is responsible for researching and presenting the factors affecting entrepreneurship?
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Group 5 is tasked with presenting the skills that an entrepreneur should possess.
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Name one activity format that groups can use for their presentations.
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Group 4 will research the skills that an entrepreneur should ______.
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Match the groups to their specific tasks:
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What is a key component of entrepreneurship education?
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Entrepreneurship education exclusively focuses on theoretical knowledge.
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Name one of the skills that entrepreneurship education provides to budding entrepreneurs.
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Entrepreneurship education helps individuals develop their own ______.
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Which entrepreneur founded Jollibee?
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Match the entrepreneurs with the companies they founded:
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Collaboration is not important in entrepreneurship education.
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Who among the following is known for founding the National Bookstore?
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Study Notes
Understanding the Concept of Entrepreneurship
- An entrepreneur is an individual who takes on the risks of starting and managing a new business venture.
- Entrepreneurship is characterized by high risk but potential for high rewards, contributing to economic growth and innovation.
- The process involves creating a business to produce goods/services for profit while managing financial risks.
Characteristics of Entrepreneurs vs. Ordinary Business Individuals
- Nature: Entrepreneurs are innovative and creative, whereas ordinary business individuals tend to follow existing ideas.
- Goal: Entrepreneurs focus on customer needs, while ordinary individuals are profit-oriented.
- Risk Margin: Entrepreneurs assume high risks for potentially higher returns, while ordinary individuals prefer minimal risks.
- Market Position: Entrepreneurs typically aim to be market leaders, while ordinary individuals are viewed as market players.
- Orientation: Entrepreneurs are opportunity-oriented and willing to explore new ventures, whereas ordinary individuals are more resource-oriented.
Relevance of Entrepreneurship
- Entrepreneurship contributes to wealth generation and decreases poverty in the economy.
- It creates job opportunities, fosters social justice, and stimulates economic productivity and confidence.
- Addresses critical social issues by driving innovation and social change.
Importance of Entrepreneurship Education for Students
- Prepares students for livelihood opportunities even before pursuing higher education.
- Encourages creative thinking and nurtures unconventional talents across various socioeconomic backgrounds.
- Enhances initiative, creativity, and self-confidence, fostering socially responsible behavior.
- Equips students with critical thinking skills, enabling them to analyze and make informed decisions.
- Provides exposure to real-world experiences, promoting innovation, creativity, and collaboration among peers.
- Facilitates development of business ideas and venture management skills.
Notable Entrepreneurs and Their Companies
- Tony Tan Caktiong
- Mariano Que
- Corazon D. Ong
- Cecilio Pedro
- Ernesto L. Cu
- Henry Sy
- Socorro Ramos
Group Activity Suggestions
- Group 1: Present on personality and environmental factors affecting entrepreneurship.
- Group 2: Discuss the essential functions of an entrepreneur with examples.
- Group 3: Explore different types of entrepreneurs and provide examples.
- Group 4: Identify key skills required for successful entrepreneurship.
- Group 5: Examine potential career opportunities for entrepreneurship graduates.
Inspirational Quote
- “If you can dream it, you can do it.” – Walt Disney
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Description
This quiz explores the fundamental concepts of entrepreneurship, highlighting the characteristics that differentiate entrepreneurs from ordinary business individuals. Learn about the risks, rewards, and the innovative nature that defines successful entrepreneurs. Test your knowledge on how entrepreneurship drives economic growth and innovation.
