entrp all

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.

In entrepreneurship, the term "process" means that

entrepreneurship follows several steps or stages.

The phrase "creating something new" in entrepreneurship primarily refers to

innovation

Before entrepreneurs can create something new, they must first

gather resources.

The process of gathering resources before creating something new is called

resource bundling

Why is value important in entrepreneurship?

It creates demand, which generates revenue.

In entrepreneurship, risk is best defined as

uncertainty associated with a venture.

Which statement best describes an entrepreneur?

Develops a business based on a new concept or idea.

The primary objective of an entrepreneur is to

bring something new to the market.

Which is NOT a primary motive of entrepreneurs?

Company sustainability

Entrepreneurs generally raise capital through

angel investors and venture capital firms.

An intrapreneur is best described as

an employee who innovates within an organization.

The primary objective of an intrapreneur is to

directly enhance the sustainability and strength of the company.

Who bears most of the financial risk in intrapreneurship?

The company

Capital and resources for an intrapreneur's project are provided by

the company.

Which statement correctly differentiates entrepreneurs from intrapreneurs?

Entrepreneurs operate independently, while intrapreneurs innovate within organizations.

One of the most important characteristics shared by entrepreneurs and intrapreneurs is

leadership.

Strong leadership helps entrepreneurs by

motivating others toward a shared goal.

Intelligence and vision allow entrepreneurs to

recognize trends and capitalize on opportunities.

Adaptability means entrepreneurs

respond effectively to challenges and changing situations.

Gmail was developed through intrapreneurship at

Google

Who developed the first version of Gmail?

Paul Buchheit

Which Apple product mentioned in the module was created through intrapreneurship?

Macintosh (Mac)

Steve Jobs organized a group of intrapreneurs to develop the

Macintosh.

Facebook's hackathons resulted in the prototype of the

Like button.

Trading entrepreneurs primarily

buy finished goods and sell them to customers.

Manufacturing entrepreneurs

convert raw materials into finished products.

Agricultural entrepreneurs are involved in

agriculture-related activities.

Technical entrepreneurs primarily use

science and technology.

Non-technical entrepreneurs mainly rely on

alternative and imitative marketing strategies.

Which entrepreneur is given as an example of a non-technical entrepreneur?

Jack Ma

A private entrepreneur

is solely responsible for the business and its risks.

A state entrepreneur is one whose venture is undertaken by

the government.

A joint entrepreneur involves

a partnership between a private entrepreneur and the government.

A medium-scale entrepreneur has investments in plant and machinery

above Php 15 million to Php 100 million.

A large-scale entrepreneur has investments

exceeding Php 100 million.

Who founded National Book Store?

Socorro Ramos

Tony Tan Caktiong is associated with

Jollibee

Edgar Sia is the founder of

Mang Inasal

Joe Magsaysay founded

Potato Corner.

Araceli and Jun Manas founded

Hen Lin.

An employee develops a new inventory system using company resources to improve efficiency. This person is a

intrapreneur.

A business owner creates a new product using personal savings and investor funding. This person is most likely a(n)

entrepreneur.

A business buys vegetables from farmers and sells them to supermarkets without changing the products. This is an example of

trading entrepreneurship.

A company develops farm machinery using advanced engineering and robotics. This is an example of

technical entrepreneurship.

Which entrepreneur would MOST likely have the highest financial risk?

Entrepreneur operating independently

Which characteristic allows entrepreneurs to respond effectively when unexpected problems arise?

Adaptability

Which example BEST demonstrates innovation?

Creating a new product that solves a customer problem

Why is resource bundling important before innovation?

It provides the necessary resources to create something new.

Which statement BEST summarizes the relationship between value and demand?

Creating value encourages demand, which generates revenue.

Which statement BEST distinguishes an entrepreneur from an intrapreneur?

Entrepreneurs create and operate independent ventures, while intrapreneurs innovate within existing organizations using company resources.

Ethics in entrepreneurship primarily refers to

following moral principles in business

Which of the following is NOT an example of ethical behavior?

Tax evasion

Ethical business practices contribute to

social development

The primary goal of social entrepreneurship is

solve social problems

Which characteristic is most important for a social entrepreneur?

Compassion

Which of the following is an example of social entrepreneurship?

Establishing a community feeding program

According to the module, entrepreneurs should respond to uncertainty by

adapting quickly

What does the quote "Everybody has a plan until they get punched in the face" imply?

Entrepreneurs must adapt to unexpected challenges.

Agility means

responding quickly to information

Entrepreneurs view adversity as

an opportunity for innovation