CHAPTER 2

Question 1

involves using digital tools, social media, and e-commerce platforms to launch and grow businesses.

Answer 1

Online entrepreneurship

Question 2

A Filipino entrepreneur and social media personality, best known as the founder and CEO of Colourette Cosmetics, a local beauty brand that promotes inclusivity, affordability, and high-quality makeup products suited for Filipina skin tones.

Answer 2

Nina Ellaine Dizon (Colourette Cosmetics)

Question 3

Created a sustainable fashion brand empowering local artisans.

Answer 3

Reese Fernandez-Ruiz (Rags2Riches)

Question 4

Built a retail empire and adapted to e-commerce with ShopSM.

Answer 4

Henry Sy (SM Group)

Question 5

was a Filipino food scientist, chemist, and war hero who is best known for inventing banana ketchup

Answer 5

Maria Orosa (1893–1945)

Question 6

explains how entrepreneurs identify and develop business opportunities

Answer 6

The Opportunity Recognition Theory

Question 7

Saw the need for cashless transactions and created fintech solutions for Filipinos

Answer 7

GCash & PayMaya

Question 8

is an approach to building businesses and products efficiently and effectively

Answer 8

The Lean Startup Methodology, introduced by Eric Ries

Question 9

refers to any kind of business activity conducted over the internet.

Answer 9

Online business

Question 10

15 TYPES OF ONLINE BUSINESS

Answer 10

1. E-Commerce Store
2. Dropshipping Business
3. Online Marketplace
4. Print-on-Demand Business
5. Subscription-Based Business
6. Affiliate Marketing
7. Online Coaching & Consulting
8. Digital Course & E-Learning Business
9. Blogging & Content Creation
10. YouTube Channel / Vlogging
11. Social Media Influencing
12. Freelancing & Remote Services
13. Online Reselling / Buy-and-Sell
14. Mobile App Development
15. Software as a Service (SaaS)

Question 11

an online shop that sells physical or digital products directly to consumers.

Answer 11

E-Commerce Store

Question 12

a retail model where sellers list products online but rely on third-party suppliers for inventory and shipping.

Answer 12

Dropshipping Business

Question 13

a platform where multiple sellers list their products for buyers to purchase.

Answer 13

Online Marketplace

Question 14

a business that customizes and prints products like T-shirts, mugs, phone cases only after receiving an order.

Answer 14

Print-on-Demand Business

Question 15

a business model where customers pay a recurring fee to access products or services.

Answer 15

Subscription-Based Business

Question 16

earning commissions by promoting other companies products through referral links or content.

Answer 16

Affiliate Marketing

Question 17

professionals offer personalized advice, training, or coaching through virtual platforms

Answer 17

Online Coaching & Consulting

Question 18

selling educational materials, training, or courses online.

Answer 18

Digital Course & E-Learning Business

Question 19

writing blogs, creating videos, or
producing digital content that earns through ads, sponsorships, or affiliate marketing.

Answer 19

Blogging & Content Creation

Question 20

a creating video content and
monetizing through ads, sponsorships, and memberships. Cong TV – A famous Filipino YouTuber earning through brand deals and ads.

Answer 20

YouTube Channel / Vlogging

Question 21

building an online following and earning through brand sponsorships, collaborations, and exclusive content.

Answer 21

Social Media Influencing

Question 22

providing professional services like writing, graphic design, web development, and virtual assistance.

Answer 22

Freelancing & Remote Services

Question 23

buying products at a lower price
and reselling them online for profit.

Answer 23

Online Reselling / Buy-and-Sell

Question 24

creating and selling mobile applications for various industries. GCash App – A popular Filipino fintech app for digital payments.

Answer 24

Mobile App Development

Question 25

offering software solutions on a subscription basis. PayMongo – A Filipino startup providing online payment solutions for businesses.

Answer 25

Software as a Service (SaaS)

Question 26

If you are running a small online business under your name, you need to register your Business Name with the __

Answer 26

Department of Trade and Industry (DTI) – For Sole Proprietors

Question 27

If you want to register a partnership or corporation, you must register with ___. — registration is required for bigger businesses, such as those seeking investors or planning to scale.

Answer 27

Securities and Exchange Commission (SEC) For Corporations & Partnerships

Question 28

After DTI or SEC registration, you must secure Barangay Business Clearance, Mayor’s Business Permit, and Fire Safety Inspection Certificate.

Answer 28

Local Government Unit (LGU) – Mayor’s Permit & Barangay Clearance

Question 29

If you run an online store and collect customer addresses for delivery, you must not share this information without consent.

Answer 29

Data Privacy Act of 2012 (RA 10173)

Question 30

A Facebook live seller must show the actual product price and offer a fair return policy.

Answer 30

E-Commerce Protection Under the Consumer Act (RA 7394)

Question 31

an Austrian economist, introduced the Innovation Theory of Entrepreneurship, which states that "entrepreneurs drive economic growth by introducing innovations" that disrupt existing markets and create new opportunities.

Answer 31

Joseph Schumpeter

Question 32

equation for business success: — old way and new way

Answer 32

old way: money x media = business new way: time x media = business

Question 33

Formula to Get Your Target Market

Answer 33

Market = P + PP + PN market = population + purchasing power + purchasing need