Multiple Choice.

Choose the letter

of the best answer among the given
choices and write it on your paper.
1. It is a starting point at any new venture that involves
understanding and knowing the intricacies of the
macroenvironment, microenvironment, and internal
environment.
A. Running the business
B. Developing a business plan
C. Determining the capital needed
D. Scanning the marketing environment
2. The entrepreneur should have a control and monitoring
system to serve as a check and balance of the formulated
plans. What entrepreneurial process describes the
statement?
A. Running the business
B. Developing a business plan
C. Determining the capital needed
D. Opportunity spotting and assessment
3. This is the beginning of the entrepreneurial
process and is considered the most difficult.
A. Running the business
B. Developing a business plan
C. Determining the capital needed
D. Opportunity spotting and assessment
4. It is a comprehensive paper that details the
marketing, operational, human resource, financial,
strategic direction, and tactics of the business.
A. Business plan
B. Strategic plan
C. Financial plan
D. Concept paper
5. A step-by-step entrepreneurial procedure.
A. Running the business, Determining the capital needed, Developing a business plan, Opportunity
spotting and assessment
B. Opportunity spotting and assessment, Determining the capital needed, Developing a business plan,
Running the business
C. Opportunity spotting and assessment, Developing a business plan, Determining the capital needed,
Running the business
D. Developing a business plan, Determining the capital needed, Opportunity spotting and assessment,
Running the business
6. STEEPLED stands for?
A. Sociology, Technology, Economy, Ecology, Politics, Legal, Ethics, and Demography

B. Seeking, Technological, Economics, Political, Legal, Environment, and Demography

C. Socio-cultural, Technological, Economic, Environmental, Political, Legal, and
Demographic
D. None of the above
7. Opportunity screening is the process of cautiously
selecting the best opportunity. The selection will
depend on the entrepreneur’s ________.
A. risk appetite C. external intent
B. internal intent D. business risks
8. Innovation is the process of positively improving
an existing product or service. It is a key driver for
_____________.
A. economic growth C. degree of distinctiveness
B. constantly changes D. none of the above
9. The following are examples of
technological innovations, EXCEPT?
A. Wi-Fi C. typewriter
B. laptop D. jet airplane
10. What innovation occurs ordinarily as the
name implies?
A. Ordinary innovation C. Breakthrough innovation
B. Technological innovation D. None of the above
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