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Summative Entrep 4.1 | PDF | Entrepreneurship | Economics
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Summative Entrep 4.1

1. The document discusses various aspects of entrepreneurship including opportunity seeking, screening, and seizing. It addresses the entrepreneurial mindset and ability to see opportunities even in difficult situations. 2. Entrepreneurial intuition or "gut game" allows entrepreneurs to sense opportunities without using the five senses. 3. Other topics covered include the entrepreneurial heartframe or passion, societal environment factors, Porter's five forces model, sources of entrepreneurial ideas such as interests, experiences and technology, and the results of identifying opportunities which can lead to new ventures.

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12K views3 pages

Summative Entrep 4.1

1. The document discusses various aspects of entrepreneurship including opportunity seeking, screening, and seizing. It addresses the entrepreneurial mindset and ability to see opportunities even in difficult situations. 2. Entrepreneurial intuition or "gut game" allows entrepreneurs to sense opportunities without using the five senses. 3. Other topics covered include the entrepreneurial heartframe or passion, societal environment factors, Porter's five forces model, sources of entrepreneurial ideas such as interests, experiences and technology, and the results of identifying opportunities which can lead to new ventures.

Uploaded by

Analuna Abonita
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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1.

It is the process of considering, evaluating, and pursuing market-based activities


that are believed to be advantageous for the firm.
A. Opportunity seeking C. Opportunity screening
B. Opportunity seizing D. Sources of opportunity

2. This is essential to opportunity seeking which allows the entrepreneur to see


things in a positive and optimistic light in the midst of crisis or difficult situations.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame B.
Entrepreneurial gut game D. Entrepreneurial heart frame

3. It is the ability of entrepreneur that can sense without using the five senses, also
known as intuition.

A. Entrepreneurial mind frame C. Entrepreneurial heart flame


B. Entrepreneurial gut game D. Entrepreneurial heart frame
4. One of the essetials of entrepreneur’s opportunity seeking that refers to the
driven passion of an individual.

A. Entrepreneurial mind frame C. Entrepreneurial heart flame B.


Entrepreneurial gut game D. Entrepreneurial heart frame
5. What variable of societal environment includes income level and employment
rate?

A. Economic forces C. Political forces


B. Sociocultural forces D. Technological forces

For questions 6 and 7 refer to the following statements:

A. Preferences and tastes of the customers easily change.


B. The buyer has the potential for backward integration.
C. The cost of switching the supplier cost is minimal.
D. Product differentiation is highly noticeable.
6. Which are the factors of the substitute product that pose a great threat in the
industry environment?
A. A, B, C, D C. A and D
B. A and C D. B and C
7. Which are the factors that influenced the buyer to have a less threats because of
the bargaining power?
A. A only C. A and D
B. A and C D. B and C
8. They are the one that pays cash in exchange to your goods and services.
A. Buyers C. Sellers
B. Competitors D. Suppliers

9. The intensity of rivalry among existing firms is characterized to the following factors
except one:
A. Diversity of rivals.
B. Number of competing firms.
C. Characteristics of the products or services.
D. The product represents a high percentage of the buyer’s cost.
10. The following are the forces competing within the industry except one:
A. Potential new entrants and Substitute Products
B. Buyers and Suppliers
C. Rivalry among existing firms
D. Needs and Wants
11. Which of the following good sources of entrepreneurial ideas determine the interest,
hobbies and preferences of people.
A. Changes in the environment C. People’s enterest B. Technological discovery
D. Past experiences
12. Societal environment includes the following, except:
A. Economic forces C. Political forces
B. Sociocultural forces D. Natural resources
13. Which among the following is the result of identifying entrepreneurial opportunities?
A. Creation of entrepreneurial ideas C. Sources of opportunity
B. Opening of entrepreneurial venture D. Entrepreneurial process
14. What entrepreneurial idea will you recognized, if you consider the new discovery and
advancement of technology as source of opportunity?
A. Changes in the environment
B. Technological discovery and advancement
C. Government’s thrust, programs, and policies
D. People’s interest
15. Source of entrepreneurial idea where expertise and skills developeb by a person
from its previous work can lead to the opening of a related business enterprise.
A. Government’s thrust, programs, and policies
B. Past experiences C. People’s interests
D. Technological discovery and advancement

ANSWER KEY
1. A 11. C
2. A 12. D
3. B 13. B
4. C 14. B
5. A 15. B
6. C
7. D
8. A
9. D
10. D

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