Module 16

ENTREPRENEURSHIP
Final Examination

Test 1 – Identification (Filling the blanks)

1. Concept Development is the process to identify the best solution for challenges involving
guideline, training and materials to achieve significant advances in future operations.
2. Manpower refers to the ideal number of people or position to perform the methods.
3. The lifeblood of a business emanates from effective marketing industry an entrepreneur is
in.
4. Marketing is the money-making tool which generates funds to finance the business
operations.
5. Business Plan is used to gather important information in planning and operating the
business.
6. Observations means data is gathered by observing and recording the respondent`s action in
activity.
7. Marketing Management is the process of analyzing, planning, and execution of the
conception, pricing, promotion and distribution of goods, services and ideas to satisfy
individual and organizational goals.
8. Marketing Plan is the roadmap towards successful demand creation and management of
products or services.
9. Management a marketing plan involves analysis, objective setting, strategy formulation,
action planning, implementation and control.
10.Executive Summary a marketing plan should start with a brief summary of the plan1s main
objectives and recommended strategies that will help in the achievement of the desired
objectives.

Test 2 – Enumeration

1. What are the four (4) M`s of operation in business?

Manpower, Method or Measurement, Machine and Materials
2. What are the eight (8) process of product or concept development?
Identify customer needs
Establish target specifications
Analyze competitive products
Generate product concepts
Select a product concept
Refine product specifications
Perform economic analysis
Plan the remaining development project
3. What are the six (6) basic marketing principles?
Needs, Wants, and Demands, Products and Services, Value, Cost and Satisfaction
4. What are the five (5) levels of hierarchy of needs according to Maslow?
Self- actualization
Esteem needs
Belongingness and love needs
Safety needs
Physiological needs
5. What are the four (4) steps in evaluating the identified marketing?
Determine if the market problem is urgent
 Know if the market problem is pervasive
Recognize if the buyers will pay to have this problem solved
Identify if somebody is solving the problem

6. What are the five (5) ways in analyzing market need?

Observations
Experiments.
Interviews
Surveys
Data collection and research
7. What are the eight (8) contents of an effective marketing plan?
Monitoring and Control
Projected Profit and Loss statement
Action Program
Marketing Strategy
Objectives
Opportunity and Issue Analysis
Current and Projected Marketing Situation
Executive Summary
8. What are the three (3) factors that may affect economic trends?
Gross Domestic Product growth rate
Inflation rate or Consumer Price Index
Exchange rate
9. What are the four (4) basic rights of consumers?
The right to safety
The right to be I formed
The right to choose
The right to be heard
10.What are the three (3) other social responsibility?

Employment

Education and training

Community development

Test 3 – Essay

1. Explain how do you recruit qualified people for your business.

The key in hiring for your company is not necessarily finding people who thrive in
uncertainty but rather finding people who thrive in the kind of organizational culture
your company strives for. Resist the urge to hire people just because they share the
same personality traits and background as you. Businesses benefit from having
different points of view to challenge and develop the company into the future.
2. Explain further the core concept of marketing.
The core concept of marketing is a social and management process by which individuals or
businesses achieve what they require or desire by creating, presenting, and exchanging
value-added products with one another.
3. Explain SWOT analysis.
A SWOT analysis will assist you in identifying high-performing aspects of your
organization. These are the crucial success criteria that offer your company a competitive a
dvantage. Identifying these assets can assist you in ensuring that they are maintained so th
at you do not lose your competitive advantage.
4. Explain social responsibility in business.

Social responsibility is an ethical paradigm in which an individual is expected to collab
orate and work with others for the benefit of the community that will inherit the world 
that the individual leaves behind.