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Entrep-Q1-M2 Review

The document discusses what the reader already knows about entrepreneurship by having them complete a true/false quiz. It then provides a scrambled word activity to unscramble business terms. Finally, it includes a multiple choice assessment about sources of entrepreneurial opportunities and aspects of industry environment.

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BUNTA, NASRAIDA
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432 views2 pages

Entrep-Q1-M2 Review

The document discusses what the reader already knows about entrepreneurship by having them complete a true/false quiz. It then provides a scrambled word activity to unscramble business terms. Finally, it includes a multiple choice assessment about sources of entrepreneurial opportunities and aspects of industry environment.

Uploaded by

BUNTA, NASRAIDA
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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What I Know

Let’s check first what you already know.


True or False. On the space provided before the number write t if the statement is true and f
if the statement is false.
True _ 1. Entrepreneur enter a business because of its profitability.
True _ 2. New business ideas provide business opportunities.
False 3. Entrepreneurial process starts with identification of entrepreneurial
opportunities.
False _ 4. Not all changes in the external environment provides business
opportunities.
True _ 5. Discovery and advancement in the use of technology are additional good source of
business opportunities.
True _ 6. Interest and hobbies of the people are possible good source of
entrepreneurial ideas.
False _ 7. Industry environment of business is under technological discovery and
advancement sources of opportunities.
False 8. The variables in the physical environment include the economic forces.
False _ 9. Entrepreneurial heart flame refers to the ability of the entrepreneur to sense
without using the five senses.
True__10. Entrepreneurial mind frame permits the entrepreneur to see things in a very
positive and optimistic light.
True 11. The business operates in the industry environment.
True 12. Opening a Halo – halo business during summer seasons.
True 13. Environmental scanning is conducted only when a new business is opened.
False 14. When the barriers to the competitive forces are high, the effect to the growth
of the business is likewise high.
False 15. Entrepreneurs need not observe and evaluate the priorities of the government

What’s New

FIX ME
Direction: Arrange the scrambled letters to form a correct word.

1. UPSIERSPL SUPPLIERS 6. UTSBETIUST SUBSTITUTES


2. NISSUBES BUSINESS 7. ICEVERS SERVICE

3. KERTAM MARKET 8. PECITIONMTO COMPETITION

4. EDICRRSTO CREDITORS 9. IMCLTEA CLIMATE


5. SUTEMOSRC CUSTOMERS 10. NTERTSAN ENTRANTS ___________

Assessment
Direction: Choose the best answer and write it in a small letter.
1. It is the process of considering, evaluating, and pursuing market-based activities that
are believed to be advantageous for the firm.
A. Opportunity seeking C. Opportunity screening
B. Opportunity seizing D. Sources of opportunity
2. This is essential to opportunity seeking which allows the entrepreneur to see things
in a positive and optimistic light in the midst of crisis or difficult situations.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. Entrepreneurial gut game D. Entrepreneurial heart frame
3. It is the ability of entrepreneur that can sense without using the five senses, also
known as intuition.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. Entrepreneurial gut game D. Entrepreneurial heart frame
4. One of the essentials of entrepreneur’s opportunity seeking that refers to the driven
passion of an individual.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. Entrepreneurial gut game D. Entrepreneurial heart fram
5. What variable of societal environment includes income level and employment rate?

A. Economic forces C. Political forces


B. Sociocultural forces D. Technological forces For

questions 6 and 7 refer to the following statements:

A. Preferences and tastes of the customers easily change.


B. The buyer has the potential for backward integration.
C. The cost of switching the supplier cost is minimal.
D. Product differentiation is highly noticeable.
6. Which are the factors of the substitute product that pose a great threat in the
industry environment?
A. A,B,C,D C. A and D
B. A and C D. B and C
7. Which are the factors that influenced the buyer to have a less threats because of the
bargaining power?
A. A only C. A and D
B. A and C D. B and C
8. They are the one that pays cash in exchange to your goods and services.
A. Buyers C. sellers
B. Competitors D. suppliers
9. The intensity of rivalry among existing firms is characterized to the following factors
except one:
A.
Diversity of rivals.
B.
Number of competing firms.
C.
Characteristics of the products or services.
D.
The product represents a high percentage of the buyer’s cost.
10. The following are the forces competing within the industry except one:
A. Potential new entrants and Substitute Products
B. Buyers and Suppliers
C. Rivalry among existing firms
D. Needs and Wants
11. Which of the following good sources of entrepreneurial ideas determine the interest,
hobbies and preferences of people.
A. Changes in the environment C. People’s enterest
B. Technological discovery D. Past experiences
12. Societal environment includes the following, except:
A. Economic forces C. Political forces
B. Sociocultural forces D. Natural resources
13. Which among the following is the result of identifying entrepreneurial opportunities?

A. Creation of entrepreneurial ideas C. Sources of opportunity


B. Opening of entrepreneurial venture D. Entrepreneurial process

14. What entrepreneurial idea will you recognized, if you consider the new discovery and
advancement of technology as source of opportunity?
A. Changes in the environment
B. Technological discovery and advancement
C. Government’s thrust, programs, and policies
D. People’s interest

15. Source of entrepreneurial idea where expertise and skills developeb by a person from its
previous work can lead to the opening of a related business enterprise.
A. Government’s thrust, programs, and policies
B. Past experiences
C. People’s interests
D. Technological discovery and advancement

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