entrep 2.0

Which statement best defines the entrepreneurial mindset?

A way of thinking that helps individuals recognize opportunities and achieve success

An entrepreneurial opportunity exists when an individual

introduces something new that can generate profits greater than production costs.

Entrepreneurial action refers to

creating products, services, or processes that enter new markets.

Structural thinking is best described as

connecting existing knowledge with new opportunities.

Which situation best demonstrates structural thinking?

Applying drone technology to medical deliveries

Superficial similarities focus on

visible characteristics.

Structural similarities focus on

hidden functions or mechanisms.

Which pair correctly matches the type of similarity?

Superficial – Appearance

Two smartphones have different internal systems but almost identical designs. This is an example of

Superficial similarity

Grab and FoodPanda use similar delivery systems even though they offer different services. This demonstrates

Structural similarity

Bricolage means entrepreneurs

innovate using existing resources.

Which is the best example of bricolage?

Turning discarded wood into tables

Effectuation starts with

available resources.

Causation starts with

a predetermined goal.

Which statement correctly describes effectuation?

Act using available resources and adapt.

Which pair is INCORRECT?

Causation – Flexible objective

An entrepreneur starts selling handmade candles using materials already available at home before deciding on a final business model. This demonstrates

Effectuation

Cognitive adaptability refers to the ability to

make better decisions in uncertain environments.

Which is NOT one of the three factors used to evaluate entrepreneurs?

Personality type

Education is important because it helps entrepreneurs

learn faster.

According to the module, the typical entrepreneurial age is

22–45 years old

Which work experience is considered valuable?

All of the above

Corporate entrepreneurship is

innovation occurring inside an existing organization.

Entrepreneurial strategy focuses on

creating and exploiting opportunities while maximizing benefits and minimizing costs.

Resources are considered

the building blocks of business performance.

Market knowledge mainly helps entrepreneurs

solve customer problems.

Technological knowledge mainly helps entrepreneurs

create new products.

An error of commission occurs when an entrepreneur

takes action that results in a negative outcome.

An error of omission occurs when an entrepreneur

misses an opportunity by taking no action.

Which comparison is correct?

Commission – Did something

Which method gathers customer opinions through structured discussions?

Focus Group

Brainstorming is characterized by

verbal sharing of ideas in a group.

Brainwriting differs from brainstorming because participants

silently write ideas.

In Problem Inventory Analysis,

consumers identify existing problems first.

A startup asks ten customers to discuss their opinions about a new app before launching it. Which idea-generation method is being used?

Focus Group

During a meeting, employees openly shout out ideas without criticism. This is

Brainstorming

Six employees quietly write ideas on paper before exchanging them with one another. Which method is this?

Brainwriting

Customers list common complaints about reusable water bottles so a company can design a better version. Which method is illustrated?

Problem Inventory Analysis

An entrepreneur launches a business using only the tools already available at home and adjusts plans as the business grows. Which TWO concepts are demonstrated?

Bricolage and Effectuation

Which statement BEST summarizes successful entrepreneurial thinking?

Entrepreneurs recognize opportunities, use available resources creatively, and adapt to uncertainty.