Topic 1 (Key Components and Relevance of Entrepreneurship)

Question 1

words associated to entrepreneur

Answer 1

business, risk-taker, plan, innovation, finance, new, strategy, startup, professional, idea, launch, creative, teamwork

Question 2

behaviors that individual demonstrates; minimum standards of performance (Strebler et al., 1997)

Answer 2

competency

Question 3

underlying characteristic of a person resulting in effective action and superior performance in job (Boyatzis, 1982)

Answer 3

competency

Question 4

identified as a specific group of competencies relevant to the exercise of successful entrepreneurship that is associated w/ the development of small and new business

Answer 4

entrepreneurial competencies

Question 5

What are the 10 Personal Entrepreneurial Competencies (PECs)

Answer 5

Opportunity-seeking
Persistence
Commitment to Work Contract
Demand for Quality and Efficiency
Risk Taking
Goal Setting
Information Seeking
Systematic Planning and Monitoring
Persuasion and Networking
Self-confidence

Question 6

Habitually working diligently for a long period of time

Answer 6

Persistence

Question 7

Certainty in one’s ability and own judgement

Answer 7

Self-confidence

Question 8

Sticks to the plan and fights the temptation to do what’s unimportant

Answer 8

Systematic Planning and Monitoring

Question 9

Accepts full commitment and responsibility as well as a solid dedication to an endeavour

Answer 9

Commitment to Work Contract

Question 10

Strategic thinking and setting of goals

Answer 10

Goal setting

Question 11

Effective and efficient communication and relation to people

Answer 11

Persuasion and Networking

Question 12

Actively finding openings to start a new business, create a new market, or improve business operations

Answer 12

Opportunity seeking

Question 13

Demands quality and efficiency not only from himself but also from workers and suppliers

Answer 13

Demand for Quality and Efficiency

Question 14

Taking the chance to do something which is out of your comfort zone

Answer 14

Risk taking

Question 15

Updates with new information consistently

Answer 15

Information Seeking

Question 16

What are the PECs under Achievement?

Answer 16

OPCRD
Opportunity Seeking
Persistence
Commitment to Work Contract
Risk taking
Demand for Quality and Efficiency

Question 17

What are the PECs under Planning

Answer 17

GIS
Goal setting
Information Seeking
Systematic Planning and Monitoring

Question 18

What are the PECs under Power

Answer 18

PS
Persuasion and Networking
Self-confidence

Question 19

Enumerate the well known Filipino Entrepreneurs

Answer 19

1. Henry Sy - SM City
2. Tony Tan-Caktiong - Jollibee
3. John Gokongwei - JG Summits
4. Socorro Ramos - NBS
5. Cecilio Kwok Pedro
6. Mariano Que
7. Alfredo Yao
8. Corazon Ong
9. Gregorio Sanchez
10. Diosdado Banatao

Question 20

Notable Current and Young Entrepreneurs

Answer 20

1. Roma and Maan - handmade accessories store (Common Room PH)
2. Francis Plaza, Luis Sia, Jaime Hing III - Pay Mongo
3. Leandro Leviste - Solar Philippines
4. Cubo - sustainable housing from bamboo

Question 21

Young Pinoy entrepreneurs solve challenges using ______ solutions.

Answer 21

sustainable

Question 22

1 in 3 Filo Entrepreneurs started microbusinesses during _____?

Answer 22

pandemic

Question 23

Accdng to GoDaddy Global Entrepreneurship Survey, on the world’s smallest business - 90% of whom have?

Answer 23

less than 10 employees

Question 24

Social Enterprises

Answer 24

1. Ana Patricia Non - pioneered community pantry ‘Maginhawa Community Pantry’
2. Gulay Bouquet Valentines 2023

Question 25

_____ is a dynamic process of vision, change, and creation. (Kuratko 2019)

Answer 25

entrepreneurship

Question 26

It requires an application of energy and passion toward the creation and implementation of innovative ideas and creative solutions. (Kuratko 2019)

Answer 26

entrepreneurship

Question 27

Essential ingredients of entrepreneurship

Answer 27

TFCSV 1. take calculated risks 2. ability to formulate an effective venture team 3. creative skill to marshal needed resources 4. fundamental skill of building a solid business plan 5. vision to recognize opportunity where others see chaos, contradiction, and confusion

Question 28

a specific innovative way to satisfy want, overcome a problem, or meet a challenge

Answer 28

entrepreneurial idea

Question 29

defined as a want, problem, or challenge that can be addressed, solved, and satisfied by an innovative initiative

Answer 29

entrepreneurial opportunity

Question 30

innovators willing to take risks and generate ideas to create unique and potentially profitable solutions to modern-day problems; those who 'undertake' the risk of new enterprise

Answer 30

entrepreneur

Question 31

entrepreneur comes from the French verb entreprendre that means

Answer 31

"to undertake"

Question 32

an organization that engages in commercial activities --- the trade of goods and services with consumers

Answer 32

enterprise

Question 33

the goal of an enterprise is to?

Answer 33

earn profit

Question 34

it is the return or compensation to the entrepreneur for taking on the risk developing an idea into an actual business venture. it is created by an entrepreneur and the process of its creation is called entrepreneurship

Answer 34

profit

Question 35

Relevance of Entrepreneurship

Answer 35

DCIM 1. Development of managerial capabilities 2. Creation of Organizations 3. Improving standard of living 4. Means of economic development