I.

IDENTIFICATION
Directions: Identify what are being described in the following statements. Choose your
answers inside the box and write them on the blanks provided before the
numbers. (2 pts. each)
Entrepreneurship Entrepreneur Macro View Micro View

Environmental School of Thought Financial/Capital School of Thought Displacement School of Thought

Entrepreneurial Trait School of Thought Venture Opportunity School of Thought Gazelle Strategic

Formulation School of Thought Integrative Approach Entrepreneurial Assessment Approach

1. This is a dynamic process of vision, change, and creation. It requires an application

of energy and passion towards the creation and implementation of new ideas and
creative solutions.
2. He is the one who undertakes to organize, manage, and assume the risks of a
business.
3. Presents a broad array of factors that relate to success or failure in contemporary
entrepreneurial ventures. This array includes external processes that are sometimes
beyond the control of the individual entrepreneur, for that they exhibit a strong
external locus of control point of view.
4. He is an innovator or developer who recognizes and seizes opportunities into
workable/marketable ideas; adds value through time, effort, money, or skills; assume
the risk of a competitive marketplace to implement these ideas; and realize the
rewards from these efforts.
5. This examines the factors that are specific to entrepreneurship and are part of
internal locus control. The potential entrepreneur has the ability, or control, to direct
or adjust the outcome of each major influence in this view.
6. It focuses on the opportunity aspects of venture development. The search for idea
sources, the development of concepts, and the implementation of venture
opportunities are the important interest areas for this school.
7. This approach is grounded in the study of successful people who tend to exhibit
similar characteristics that, if copied, would increase success opportunities for the
emulators.
8. This emphasizes planning process in successful venture development.
9. This entrepreneurial emphasis’ entire focus is the search for seed and growth capital,
based on capital seeking process.
10. It focuses on the negative side of group phenomena, in which someone feels out of
place- or literally “displaced” from a group. It holds that the group hinders a person
from advancing or eliminates certain critical factors needed for person to advance.
As a result, the frustrated individual will be projected into an entrepreneurial pursuit
out of his own motivation to succeed.
11. It deals with the external factors that affect a potential entrepreneur’s lifestyle. These
can be either negative or positive forces in molding entrepreneurial desires. Ex. the
social group of an entrepreneur, the atmosphere of friends and relatives can
influence the desire to become an entrepreneur.
12. It builds around the concept of inputs to the entrepreneurial process and outcomes
from entrepreneurial process
13. It stresses making assessments qualitatively, quantitatively, strategically, and
ethically in regard to the entrepreneur, he venture and the environment.
14. It is a business establishment with at least 20% sales growth every year (for 5 years)
starting with at least 100,000.
15. It is the new revolution, and it’s about continual innovation and creativity.

II. TRUE OR FALSE

Directions: Read and analyze whether each statement below is TRUE or FALSE. Write W if the
statement is true, and X if the statement is false.

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 1. Mountain versus mountain gap strategies refer to identifying major market segments as well as in-
between markets that arise from larger markets.
2. Entrepreneurs are born, not made.
3. Entrepreneurs are doers and thinkers.
4. Entrepreneurs are always inventors.
5. All entrepreneurs need luck.
6. Entrepreneurship helps to improve the standard of living of a person by increasing the income.
7. Entrepreneurship generates employment.
8. Entrepreneurs are Academic and Social Misfits.
9. All Entrepreneurs Need Money.
10. Better widget strategies refer to innovations that encompass new or existing markets.

III. PROBLEM SOLVING

Gazelle . . . or Turtle? (10 points)
ABC Corporation recently celebrated its fifth year of business, going into the sixth. Marylle, the
proprietor, started the software manufacturing and distribution company when he was still working as a
professor at a local college, but now she enjoys being in a fast-paced technology industry. Following is
a snapshot of Marylle’s annual sales since inception:
Year 1 120, 000
Year 2 250, 000
Year 3 320, 000
Year 4 400, 000
Year 5 550, 000
Is ABC Corporation a gazelle? Support your answer by showing your solution on the space provided after each
number.

IV. ENUMERATION
Directions: Enumerate the following in any order:
Macro View School of Entrepreneurial Thought
1.
2.
3.
Micro View School of Entrepreneurial Thought
1.
2.
3.
Give 4 notable myths that prevail in entrepreneurship that is dispelled.
1.
2.
3.
4.

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