LESSON 1

Question 1

the term “entrepreneur” originates from the FRENCH word ________ which means ______

Answer 1

entreprendre, “to undertake”

Question 2

the start of a new business undertaking

Answer 2

• venture
• process
• secure
• share

Question 3

find a business partner/personal savings

Answer 3

securing funding

Question 4

Loans - borrow from banks/small amount of interest

Answer 4

securing funding

Question 5

investors - who believe in your idea for share profits

Answer 5

securing funding

Question 6

grants for competition

Answer 6

securing funding

Question 7

why is it important to register your business?

Answer 7

• it is like giving a birth certificate, it makes your business legal and official
• it allows you to pay taxes
• it protects the business name, no one else can use your business name
• it builds trust, business partner and customers will look up to you

Question 8

presenting your idea to the world and saying by…
“buy one take one”
telling the advantages of the product
sharing samples
free food taste
to encourage customers

Answer 8

launching products or services

Question 9

the term “entrepreneurship” comes from the word _____

Answer 9

entrepreneur

Question 10

it refers to a particular field of practice or process as compared to an entrepreneur which is a person practicing entrepreneurship

Answer 10

entrepreneur

Question 11

a person who ORGANIZES, OPERATES, and ASSUMES the risks of business ventures

Answer 11

entrepreneur

Question 12

a person who strongly advocates and correctly practices the concept

Answer 12

entrepreneur

Question 13

it is an owner of a business who his/her sources to bring an idea to life, setting the direction that transforms that idea into realms, thus providing and gaining value that balances effort, purpose and profit

Answer 13

entrepreneur

Question 14

the art of observing correct practices in managing and operating a self-owned wealth-creating business entreprise

Answer 14

entrepreneurship

Question 15

is the process of identifying opportunities, developing innovative ideas, and taking the initiative to create, manage, and grow a business or venture to address needs, solve problem, or provide values often while taking on financial and personal asks

Answer 15

entrepreneurship

Question 16

refers to a business or enterprise that correctly adopts and practices the principles of entrepreneurship

Answer 16

small business

Question 17

it is owned by one person with a limited workforce of not more than 20 persons

Answer 17

small business

Question 18

includes the small and medium enterprises (SMEs) that have been strongly promoted by both government and non government

e.g. milk tea business, sari - sari store business, buy and sell

Answer 18

small business

Question 19

it encompasses a range of industries and business models, including startups, innovative businesses or businesses operating in nice markets

Answer 19

small business

Question 20

they aim for growth and innovation

Answer 20

small business

Question 21

pertains to a business enterprise managed and operated by an owner who is not an advocate of and does not practices the concept and principles of entrepreneurship

Answer 21

ordinary small business

Question 22

wants to do things on their own
• independence
• direct involvement
• small-scale operations
• income generation focus

Answer 22

the self-employed

Question 23

feel the need to step up and ask some help from people around them
• delegation of task
• organized operations
• leadership focus
• profitability and stability

Answer 23

the manager

Question 24

feel the need to step up and ask some help from people around them
• delegation of task
• organized operations
• leadership focus
• profitability and stability

Answer 24

the manager

Question 25

enjoy seeing people flourish, stepping up, and producing great results with minimal supervision • vision oriented • empowerment • inspiring innovation • building relationship

Answer 25

the leader

Question 26

• focus on the big picture • defining the company vision/mission • long term objective

Answer 26

vision-oriented

Question 27

• delegate authority • empower team members to take initiative and make decisions

Answer 27

empowerment

Question 28

• foster a culture of creativity • encouraging teams to develop new ideas and solutions

Answer 28

inspiring innovation

Question 29

• prioritize strong relationships with employees, stakeholders, and clients to ensure collaboration and trust

Answer 29

building relationships

Question 30

setting clear, long-term goals, and aligning team efforts with organizational objectives

Answer 30

strategic thinking

Question 31

articulating the company’s vision and inspiring the teams to achieve it

Answer 31

communication

Question 32

understanding and managing emotions to build strong interpersonal relationships

Answer 32

emotional intelligence

Question 33

learning through change and uncertainty with resilience and flexibility

Answer 33

adaptability

Question 34

- look for more opportunities to grow - at the investor level, entrepreneurs transition from directly managing business to focusing on generating wealth through investments • passive involvements (relies on others) • portfolio diversification (various industries) (minimize risk and maximize returns) • focus on returns (prioritize high-growth opportunities and sustainable profitability) • mentorship (mentor startups and small business, offering guidance and expertise alongside capital)

Answer 34

the investor

Question 35

the investor skills

Answer 35

required: • financial literacy (understanding) • risk assessment (evaluating) • networking (building relationships) • negotiation (securing favorable terms for investments and partnerships)

Question 36

fully learned and continue to produce four-step process of thinking

Answer 36

the true entrepreneur

Question 37

four step process of thinking

Answer 37

idealization, visualization, verbalization, and materialization

Question 38

dream and desire to build an ideal environment

Answer 38

idealization

Question 39

create plans to make the dream a reality

Answer 39

visualization

Question 40

sharing their ideas with other people

Answer 40

verbalization

Question 41

vision becomes a reality

Answer 41

materialization

Question 42

venture means…

Answer 42

enterprise

Question 43

personal savings

Answer 43

securing funding

Question 44

undertaking business

Answer 44

• initiation of new business venture • identifying business idea • planning its execution • taking the first steps toward establishing it (securing funding, registering the business, or launching products or services)