prelim

Question 1

characteristics of entrepreneur

Answer 1

need for achievement
risk taking
open mindedness
tolerance for ambiguity
internal locus of control
visionary

Question 2

based on the type of business

Answer 2

trading entrep
manufacturing
agricultural

Question 3

base on technology

Answer 3

technical entrep
non techical entrep

Question 4

based on ownership

Answer 4

private
joint
state

Question 5

base on size

Answer 5

small scale (15m below)
medium scale ( 100 below)
large scale 100m above

Question 6

base on clarence danof classification

Answer 6

innovating
imitative
fabian
drone

Question 7

market situation where there is a large number of
independent sellers offering identical products.

Answer 7

Pure competition

Question 8

A market situation where there is only one seller or producer
supplying unique goods and services.

Answer 8

monopoly

Question 9

known as one buyer
market situation

Answer 9

monopsony

Question 10

Pertains to market situation where there is relatively
large number of small producers or suppliers selling similar but not identical
products.

Answer 10

Monopolistic Competition

Question 11

A market situation where there are a few firms offering standardized
or differentiated goods and services. A few buyer market situation

Answer 11

oligopoly

Question 12

Determinants of Market Structure

Answer 12

1. Economic Freedom
2. Technology
3. Government Laws and Policies
4. Business Policies and Practices

Question 13

Entrepreneurial Opportunities

Answer 13

niche opportunities
turbulent markets

Question 14

The factors of production or distribution are owned and
managed by private individuals or corporations. It has been known by the terms
market economy or lassez faire economy.

Answer 14

free market economy

Question 15

It is exactly the opposite of capitalism. The factors of
production and distribution are owned and managed by the state.

Answer 15

Command Economy.

Question 16

It is a combination of capitalism and communism.

Answer 16

Mixed economy

Question 17

Forms of Technology

Answer 17

as an object
as a knowledge
as a process

Question 18

Characteristics of Technological Development

Answer 18

uncertain
dynamic
systemic
cumulative

Question 19

Role of Technology for Entrepreneurs

Answer 19

Communication.
Research and development.
Web-based marketing.
Computer technology.

Question 20

Characteristics of a Technopreneur

Answer 20

Hardworking.
Self-confident.
Builds for the future.
Profit-oriented.
Goal-oriented.
Persistent.
Copes with failure.
Responds to feedback.
Demonstrates initiative.
Willing to listen.
sets own standards.
Copes with uncertainty.
Committed.
Builds on strength.
Reliable and has integrity.
Risk-taker.

Question 21

Traits of a Successful Technopreneur

Answer 21

Leadership.
Flexibility.
Discipline.
Strategist.
Focus.

Question 22

Entrepreneurial Process and Technopreneurial Process

Answer 22

1. Discovery. This is the stage in which the entrepreneur generates ideas, recognizes
   opportunities, and studies the market.
2. Concept development. Creation of business plan: a detailed proposal describing
   the business idea.
3. Resourcing. The stage in which the entrepreneur identifies and acquires the
   financial, human, and capital resources needed for the business.
4. Actualization. The stage in which the entrepreneur operates the business and
   utilizes resources to achieve its goals and objectives.
5. Harvesting. The stage in which the entrepreneur decides on business’ future
   growth or development, or its demise or end.

Question 23

This is the stage in which the entrepreneur generates ideas, recognizes
opportunities, and studies the market.

Answer 23

discovery

Question 24

Creation of business plan: a detailed proposal describing the business idea

Answer 24

concept development

Question 25

The stage in which the entrepreneur identifies and acquires the financial, human, and capital resources needed for the business.

Answer 25

Resourcing.

Question 26

The stage in which the entrepreneur operates the business and utilizes resources to achieve its goals and objectives.

Answer 26

Actualization.

Question 27

The stage in which the entrepreneur decides on business' future growth or development, or its demise or end.

Answer 27

harvesting.

Question 28

Process of creating, developing and communicating abstract, concrete or visual ideas.

Answer 28

Idea generation.

Question 29

Process that evaluates and contrasts new product ideas to get the most promising ones for your business.

Answer 29

idea screening

Question 30

It is a quality check between the description of an idea and actual product development.

Answer 30

concept testing

Question 31

A process that offers concepts and insights into the development of the initial framework for any project. It

Answer 31

Business analysis.

Question 32

It is an initial creation of a product that shows the basics of what a product will look like, what the product will do, and how the product operates.

Answer 32

prototyping

Question 33

A strategy used by companies to check the viability of their new product or a marketing campaign before it is launched in the market on a large scale.

Answer 33

test marketing

Question 34

is the process of bringing new products or services to market.

Answer 34

commercialization

Question 35

A combination of data collection and analysis (monitoring) and assessing to what extent a program or intervention has, or has not, met its objectives (evaluation).

Answer 35

monitoring and evaluation

Question 36

These are the researchers, developers, scanner, marketing people, and financers. The researchers are the thinkers, idea generators and the innovators; developers are the implementers and technical people. And, scanner, marketing people, and financers are components of human resources.

Answer 36

human resources

Question 37

These are science parks and incubation centers, academic institutions and R&D centers, internet access, communication and other support services, geographic accessibility, and venture mentoring services/support. Incubation centers have programs that provide incubation services to assist technology start-ups in their vulnerable stages, enabling them to grow and flourish. Their supports are office space and facilities, technical and management assistance, promotion and development assistance, business support and financial aid package.

Answer 37

environment

Question 38

These are Intellectual Property Rights Office, Technology Licensing Office (facilitates commercialization of inventions) and legal services.

Answer 38

laws and policies

Question 39

These are investors, business sector, funding agencies and financial services.

Answer 39

financial resources

Question 40

intellectual property has three main elements:

Answer 40

human capital organization capital social capital