ANSWER KEY

Definition of Terms

1. C. Micro market
2. B. Consumer dislikes
3. A. Consumer preferences
4. D. Entrepreneurial gut game
5. B. Entrepreneurial heart flame
6. D. Entrepreneurial mind frame
7. A. Returns
8. C. Relative Ease of Implementation
9. B. Resources Required
10. D. Risks
11. B. Responsiveness
12. A. Reach
13. E. Range
14. C. Revolutionary Impact
15. D. Relevance

TEST II DEFINITION OF TERMS

1) Resonance
2) Reinforcement
3) Revenues
4) Personal Screen
5) Market problems
6) “jack-of-all-trades, master-of-none” syndrome
7) Entrepreneur
8) Sense making
9) Customer focus
10) Influence
11) Initiative
12) Adaptability
13) Innovator
14) Risk appetites
15) Grit

ENUMERATION:

31-35

1. Socio-cultural Environment
2. Political Environment
3. Economic Environment
4. Ecological Environment
5. Technological Environment

36-40

1. Owner who invests resources

2. Brings an idea to life
3. Setting direction
4. Making things happen
5. Adding value

41-47

Competencies of Entrepreneur

41. Owner who invests resources

42. Brings an idea to life

43. Setting Direction

44. Making things happen

45. Adding value

 ENTREPRENEURSHIP

MIDTERM EXAMINATION

Identify the appropriate answer in every number. Write in ½ lengthwise of paper.

TEST I: MULTIPLE CHOICE (ERASURES NOT ALLOWED)
1. The target customers that represent the immediate customers of an enterprise, meaning those
who are currently buying the goods or services offered by the enterprise and its direct competitors.
It likewise pertains to a clearly defined location or specific customer group that an enterprise
wishes to serve.
A. Consumer preferences B. Consumer dislikes C. Micro market D. Entrepreneurial gut game
2. Refer to the things that irritate customers.
A. Consumer preferences B. Consumer dislikes C. Micro market D. Entrepreneurial gut game
3. Refer to the tastes of particular groups of people.
A. Consumer preferences B. Consumer dislikes C. Micro market D. Entrepreneurial gut game
4. Known as intuition, refers to the ability of the entrepreneur to sense without using the five senses.
A. Consumer preferences B. Consumer dislikes C. Micro market D. Entrepreneurial gut game
5. Known as surging passion, refers to the entrepreneur’s fulfillment in the act and process of
discovery.
A. Returns B. Entrepreneurial heart flame C. Relative Ease of Implementation
D. Entrepreneurial mind frame
6. Allows the entrepreneur to see things in a very positive and optimistic light in the midst of crisis or
difficult situations.
A. Returns B. Entrepreneurial heart flame C. Relative Ease of Implementation
D. Entrepreneurial mind frame
7. It is a fact that products with low costs of production and operations but are sold at higher prices
will definitely yield the highest returns on investments. It can also be intangible; meaning, they
come in the form of high profile recognition or image projection.
A. Returns B. Entrepreneurial heart flame C. Relative Ease of Implementation
D. Entrepreneurial mind frame
8. Will the opportunity be relatively easy to implement for the entrepreneur or will there be a lot of
obstacles and competency gaps to overcome?
A. Returns B. Entrepreneurial heart flame C. Relative Ease of Implementation
D. Entrepreneurial mind frame
9. Opportunities requiring fewer resources from the entrepreneur may be more favored than those
requiring more resources.
A. Returns B. Resources Required C. Relative Ease of Implementation D. Risks
10. In an entrepreneurial endeavor, there will always be risks. However, some opportunities carry
more risks than others, such as those with high technological, market, financial, and people risks.
A. Returns B. Resources Required C. Relative Ease of Implementation D. Risks
11. To customer needs and wants. If the opportunity that you want to pursue addresses the
unfulfilled or underserved needs and wants of customers, then you have a better chance of
succeeding.

A. Reach B. Responsiveness C. Revolutionary Impact D. Relevance E. Range

12. Opportunities that have good chances of expanding through branches, distributorships,
dealerships, or franchise outlets in order to attain rapid growth are better opportunities.
A. Reach B. Responsiveness C. Revolutionary Impact D. Relevance E. Range
13. The opportunity can potentially lead to a wide range of possible product or service offerings, thus,
tapping many market segments of the industry.
A. Reach B. Responsiveness C. Revolutionary Impact D. Relevance E. Range
14. If you think that the opportunity will most likely be the “next big thing” or even a game-changer
that will revolutionize the industry, then there is a big potential for the chosen opportunity.
A. Reach B. Responsiveness C. Revolutionary Impact D. Relevance E. Range
15. The vision, mission, and objectives of the entrepreneur. The opportunity must be aligned with
what you have as your personal vision, mission, and objectives for the enterprise you want to set
up.
A. Reach B. Responsiveness C. Revolutionary Impact D. Relevance E. Range

TEST II DEFINITION OF TERMS (ERASURES NOT ALLOWED)

1. It is the values. Other than vision, mission, and objectives, the opportunity must match the
values and desired virtues that you have or wish to impart.
2. An Entrepreneurial Interests. How does the opportunity resonate with the entrepreneur’s
personal interests, talents, and skills?
3. In any entrepreneurial endeavor, it is important to determine the sales potential of the products
or services you want to offer. Is there a big enough market out there to grab and nurture for
growth?
4. In screening opportunities, the entrepreneur first has to consider his or her preferences and
capabilities by asking three basic questions.
5. Refer to existing inefficiencies, awkward workflows or non-optimal solutions or silent problems.
6. Feeling overwhelmed by the number of channels you are creating product for — be it email,
webinars, blogs, product for social media
7. An owner of a business who invests his/her resources to bring an idea to life, setting the
direction that transforms that idea into reality.
8. Scanning the environment to detect and interpret what is happening today in order to connect
and take actions on potential future outcomes.
9. Choosing, initiating and sustaining relationships with customers.
10. Ability to use personal branding and interpersonal styles to gain buy-in from customers.
11. Being proactive in taking prompt actions to attain objectives.
12. Adjusting to external changes while initiating internal changes to attain objectives.
13. It is a person who introduces either a new process, product, service or business model to the
marketplace that becomes commercially successful.
14. Sees rewards for taking on opportunities that have potential positive (or negative) consequences.
15. Persistency to attain long-term goals despite adversity.

TEST III ENUMEARATION ((ERASURES NOT ALLOWED)

Macro Environmental Sources of opportunities 31-35

Components of an Entrepreneur 36-40

Competencies of Entrepreneurs 41-47

“GOD IS WATCHING YOU”

TEACHER: HANELYN H. ESCALONA