Chapter 3

Question 1

Working with or extraction of raw materials/natural resources

Answer 1

Primary

Question 2

Making or converting raw materials into usable products through processing and manufacturing.

Answer 2

Secondary

Question 3

Service industries or providing essential services and support to allow other levels of industry to function

Answer 3

Tertiary

Question 4

Dramatic growth of this new sector. Working with creation and transfer of information (ICT, media sharing) including research and development. As well as knowledge based services like consultation.

Answer 4

Quaternary

Question 5

control the industrial and government decision-making processes includes industry executives and management and bureaucrats and elected officials in government

Answer 5

Quinary

Question 6

is a detailed classification of industries prevailing in the country according to the kind of productive activities undertaken by establishments.

Answer 6

Philippine Standard Industrial Classification (PSIC).

Question 7

An agribusiness tends to be large scale operations and deals with farming, processing and manufacturing, packaging and distributing agricultural products.

Answer 7

Agribusiness

Question 8

Swine raising is raising and breeding of domestic pigs as livestock.

Answer 8

Hog/pig raising

Question 9

Raising of domesticated birds such as chickens, ducks, turkeys and geese to produce meat or eggs for food

Answer 9

Poultry farming

Question 10

Raising of cattlefor milk, beef, and hides.

Answer 10

Cattle raising

Question 11

Planting rice for rice production

Answer 11

Rice farming

Question 12

Raising goats for milk and meat

Answer 12

Goat raising

Question 13

Planting corn for consumption

Answer 13

Corn farming

Question 14

Raising fish in a pen such as catfish, oyster, prawns, pangasius, bangus or tilapia is fun and exciting business, each species needs different environment to grow either fresh or salt water.

Answer 14

Fish pens

Question 15

Planting veggies is an agribusiness specially learn how to plant off – season varieties.

Answer 15

Vegetable farming

Question 16

The process of converting raw materials, components, or parts into finished goods that meet a customer’s expectations or specifications.

Answer 16

Manufacturing

Question 17

bread making is easy and simple business that can be done at home

Answer 17

Commercial Bread Making

Question 18

business that produce different soap products.

Answer 18

Soap Manufacturing business

Question 19

Business that sell drinking water package in a plastic bottles or container.

Answer 19

Drinking Water Business

Question 20

make or create furniture such as lockers, bookshelves, showcases, chairs, tables, etc

Answer 20

Furniture Making

Question 21

Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit and usually it’s done directly to its final consumer

Answer 21

Retail and Services

Question 22

The term “_______” is also applied where a service provider services the small orders of a large number of individuals

Answer 22

retailer

Question 23

Contemporary art galleries, Bookstores, Handicrafts, Musical instruments, Gift shops, and supplies for them.

Answer 23

Arts

Question 24

clothing, other fabrics, footwear, cosmetics, medicines and stationery. Goods that are consumed after one use or have limited period (typically under three years) in which you may use them.

Answer 24

Soft goods or consumables

Question 25

these are automobiles, appliances, electronics, furniture, sporting goods, lumber, etc., and parts for them. Goods that do not quickly wear out and provide utility over time.

Answer 25

Hard goods or durable goods

Question 26

typically require cold storage facilities.

Answer 26

Food product

Question 27

A product that is sold to the global market is an __________

Answer 27

Export

Question 28

a product that is bought from the global market is an ___________

Answer 28

Import

Question 29

is the exchange of capital, goods, and services across international borders or territories, significant share of gross domestic product (GDP).

Answer 29

International Trade

Question 30

enables small business owners to identify the threats and opportunities facing their businesses, and to focus their resources on developing unique capabilities that could lead to a competitive advantage.

Answer 30

Industry analysis

Question 31

is a tool that facilitates a company's understanding of its position relative to other companies that produce similar products or services.

Answer 31

Industry Analysis

Question 32

According to Robert Grant, author of “________________” an environmental analysis surveys the business landscapes to determine how external variables will affect its decision making.

Answer 32

Contemporary Strategy Analysis

Question 33

According to who and author of “Contemporary Strategy Analysis” that says an environmental analysis surveys the business landscapes to determine how external variables will affect its decision making?

Answer 33

Robert Grant

Question 34

identify and evaluate as to how these environmental changes will affect our business so that appropriate counter strategies can be made well in time.

Answer 34

Evaluation and Assessment

Question 35

an essential element in environment analysis. is concerned with estimation of direction and intensity of changes in environment factors.

Answer 35

Forecasting

Question 36

needed to manage the timely availability of required information by _________ . Many organizations have management information system for systematic gathering, processing, storing and providing information.

Answer 36

Searching and Scanning

Question 37

means to understand the various environment factors which affect the business and to identify published or unpublished sources of information which affect business. Eg. newspapers, magazines and journals

Answer 37

Monitoring-

Question 38

most widely known industry analysis is

Answer 38

Porter’s 5 Forces or Competitive Forces Model

Question 39

introduced by ___________ in his 1980 book “Competitive Strategy: Techniques for Analyzing Industries and Competitors.”

Answer 39

Michael Porter

Question 40

4Ps full

Answer 40

rice, product, promotion and place

Question 41

A business must be scalable for it to be successful.

Answer 41

Scalability

Question 42

A business is no more effective than the idea upon which it is built. Business creates its own plan to expand its economic growth.

Answer 42

Big Ideas

Question 43

A business is a system in which all parts contribute to the success or failure of the whole.

Answer 43

System

Question 44

A business must be dynamic- able to thrive through all economic conditions, in all markets, providing meaningful highly differentiated results to all of its customers.

Answer 44

Sustainability

Question 45

Without continued growth, operations will stagnate. This can result in lowered standards of quality for products or services, decreased customer service, and poor employee morale.

Answer 45

Growth

Question 46

A business creates a standard against which all businesses are measured as either successful, or not.

Answer 46

Standards

Question 47

A business is an economic entity, driving an economic reality, creating an economic certainty for the communities in which it thrives.

Answer 47

Profitability

Question 48

A business is not part of the owner's life, but is, in fact, its own entity.

Answer 48

Autonomy

Question 49

A business must manifest the higher purpose upon which it was seeded, the vision it was meant to exemplify, the mission it was intended to fulfil.

Answer 49

Vision

Question 50

A business is the fruit of a Higher Aim in the mind of the person who conceived it.

Answer 50

Purpose