Activity 2 Entrepreneurship -Recognize Potential Market

Activity 1.1 Multiple choice

1. What does an entrepreneurial mind frame allow an entrepreneur to do?

a) See things in a negative and pessimistic way
b) Find solutions when problems arise
c) Avoid taking risks
d) Discourage innovation

2. What is the role of entrepreneurial heart flame in opportunity seeking?

a) It drives an entrepreneur's passion for discovery and satisfaction
b) It extinguishes an entrepreneur's desire to achieve goals
c) It promotes a lack of interest in the process of discovery
d) It discourages entrepreneurs from pursuing opportunities

3. What does the term "entrepreneurial gut game" refer to?

a) The ability to be intuitive and trust one's instincts
b) A lack of confidence in oneself and the business
c) Avoiding risks and playing it safe
d) Believing that reaching aspirations is impossible

4. How does an entrepreneurial mind frame help in difficult situations?

a) By seeing things in a negative and pessimistic way
b) By avoiding risks and challenges
c) By finding solutions and being optimistic
d) By relying solely on luck and chance

5. What is the significance of passion in opportunity seeking?

a) It drives an entrepreneur's desire to achieve goals
b) It hinders an entrepreneur's motivation and determination
c) It discourages innovation and creativity
d) It leads to a lack of interest in the act of discovery
6. Which of the following is a source of opportunities related to the external environment?
a) Changes in the physical environment
b) Technological discovery and advancement
c) Government's thrust, programs, and policies
d) People's interest

7. What is an example of a societal environmental force that can lead to entrepreneurial

ideas?
a) Climate
b) Natural resources
c) Political forces
d) Competitors
8. Which of the following is a source of opportunities related to technological
advancements?
a) Changes in the physical environment
b) Technological discovery and advancement
c) Government's thrust, programs, and policies
d) People's interest
9. How can government thrust, programs, and policies contribute to entrepreneurial
opportunities?
a) By restricting business activities
b) By discouraging innovation and creativity
c) By providing incentives and support for specific industries
d) By limiting competition among businesses
 10. What is an example of a source of opportunities derived from people's interests?
a) Changes in the physical environment
b) Technological discovery and advancement
c) Government's thrust, programs, and policies
d) Past experiences

Activity 1.2 Identification

________11. The force exerted by the buyers of goods and services in terms of their bargaining
power and ability to influence prices.

_______12. The suppliers of goods or services to the industry, and their ability to control the
supply or influence the industry.

_______13. The availability of alternative products or services that can fulfill the same customer
needs.

_______14. The threat posed by new businesses or competitors entering the industry.

________15. The competition and intensity of rivalry among the existing firms in the industry.

Activity 1.3
ESSAY 5 POINTS
WHY IT’S IMPORTANT TO HAVE A BUSINESS PLAN?