CONCEPTS
What is the primary goal of entrepreneurship?
a. Employment
b. Innovation
c. Profit
d. All of the above
d. All of the above
An entrepreneur who franchises a business is called a:
a. Franchisor
b. Franchisee
c. Manager
d. CEO
b. Franchisee
It contains the essence of the enterprise in a concise but powerful manner. It stresses the value of the product offering to the target customer who would most likely to buy.
a. business model
b. business plan
c. business concept
d. none of the choices
c. Business concept
An entrepreneur must have a vision. What does this mean?
a. They predict sales
b. They daydream often
c. They have a clear idea of future goals
d. They like art
c. They have a clear idea of future goals
a. big or macro forces
b. small or micro forces
c. socio-economic forces
d. political forces
a. big or macro forces
Which of the following is NOT a source of business ideas?
a. Personal interest
b. Trends and market needs
c. Dreams
d. Research and development
c. Dreams
Jeff Bezos is known as the founder of:
a. Google
b. Facebook
c. Amazon
d. Tesla
c. Amazon
a. business plan
b. business model
c. marketing strategies
d. logistics
b. business model
Ethical entrepreneurship means:
a. Breaking the rules to succeed
b. Avoiding taxes
c. Doing business fairly and honestly
d. Bribing competitors
c. Doing business fairly and honestly
It includes the the demographics and cultural dimensions that govern the relevant entrepreneurial endeavor.
a. Political-cultural environment
b. Socio-cultural environment
c. Ecological environment
d. None of the choices
b. Socio-cultural environment
The term "startup" refers to:
a. An old and large business
b. A nonprofit organization
c. A newly established business
d. A government-owned business
C. A newly established business
What company did Steve Jobs co-found?
a. Amazon
b. Samsung
c. Apple
d. Microsoft
c. Apple
What does O stands for in the acronym VMOKRAPI?
a. Overview
b. Objectives
c. Observation
d. Obligation
Vision, Mission, Objectives, Key Result Area, and Performance Indicator
Social responsibility in business means:
a. Hiring family only
b. Only aiming for profit
c. Contributing to community welfare
d. Buying expensive ads
c. Contributing to community welfare
Which is not a macro-environment forces?
a. Political Environment
b. Ecological Environment
c. Technological Environment
d. Industry Environment
d. Industry Environment
The ability to identify and seize new business opportunities is known as:
a. Intuition
b. Innovation
c. Opportunity recognition
d. Persuasion
c. Opportunity recognition
Who is the famous entrepreneur known for founding the SM Group of companies?
Henry Sy
The term “market” in business refers to:
a. A grocery store
b. A group of potential customers
c. Business permits
d. Competitors
b. A group of potential customers
What is the entrepreneurial mindset?
a. A fixed way of thinking
b. The belief in being hired
c. A proactive, innovative, and persistent attitude
d. A shy and passive personality
c. A proactive, innovative, and persistent attitude
Refers to the specific target market segment being served by a particular enterprise.
Micromarket
The word "entrepreneur" comes from the French word ________________ which means to undertake.
Entreprende
He is an economist, known for popularizing the term "creative destruction" which essentially means getting rid of an old obsolete way in order to usher in a new way of doing business.
Joseph Schumpeter
It contains everything that is relevant and important to the business audience. It is a synthesis of the entire plan.
Executive Summary
It means prioritizing customer needs and satisfaction
in a entrepreneurship.
Customer-centric
Consumer preferences