Entrep (Exam)

Question 1

provide a summary of assets the business will own, it’s projected liabilities.

Answer 1

Financial plan

Question 2

This section describe the target market for the new product or service

Answer 2

marketing plan

Question 3

in the section it is not enough for this section to provide a documentation of the venture’s form of ownership

Answer 3

organizational plan

Question 4

must be included whether the business is concerned with manufacturing or service.

Answer 4

operations plan

Question 5

this describes the complete manufacturing process.

Answer 5

production plan

Question 6

this must take into account in existing laws and regulations, as well as future legislation that could directly affected the business.

Answer 6

Politico-legal conditions

Question 7

it is a reference to individuals who have initiated the establishment of a business enterprise.

Answer 7

entrepreneurs

Question 8

is the process of carrying out the business plan.

Answer 8

implementation

Question 9

refers to the recognition of a business idea or the detection of opportunities that could make money for the entrepreneur.

Answer 9

discovery

Question 10

describe the process of identifying, sourcing, and financing human, nonhuman and other resources needed for the conduct of business.

Answer 10

organizing resources

Question 11

individuals who become entrepreneurs in develop countries are usually former employees of companies in the formal sector.

Answer 11

employment status

Question 12

are associated with uncertainties in business operation.

Answer 12

risk

Question 13

Refers to the systematic and rational way of providing an answer to question.

Answer 13

critical thinking

Question 14

Refers to thought processes that bring about discovery of new ideas.

Answer 14

creative thinking

Question 15

Involves thought processes that assess current situation that can be in the formulation of plans for the future.

Answer 15

strategic thinking

Question 16

Are threats coming from various environment outside the business firms.

Answer 16

external risks

Question 17

The process of identifying, assessing, and responding to these risks is called?

Answer 17

risk management

Question 18

Suggests the production of a prototype.

Answer 18

realization

Question 19

A preparatory stage, during which individuals assess his knowledge of the market.

Answer 19

precondition

Question 20

Involves the evaluation on whether the idea can be realized or not.

Answer 20

assessment

Question 21

Which entrepreneurial intentions and ideas are generated, using logic, creative thinking or both.

Answer 21

conception

Question 22

Provides the individual a hunch that can serve as an opportunity for business.

Answer 22

visioning

Question 23

A critical piece of information for any aspiring entrepreneur is the potential market for his product or service.

Answer 23

market information

Question 24

section of the business plan will require the entrepreneur to Include a list of all sources of revenue and a list plan will require the expenditures for the first year of operations,

Answer 24

financial section

Question 25

Refers to the systematic and rational way of providing an answer to question.

Answer 25

logical thinking

Question 26

Is the systematic way of generating ideas from a select group of Individuals using various rounds of consultations or sessions.

Answer 26

Delphi technique

Question 27

Refers to a systematic analysis of data generated from a survey of individuals.

Answer 27

statistical analysis

Question 28

Refers to an unstructured discussion of a group to elicit ideas.

Answer 28

brainstorming

Question 29

Is another technique used is discovering business ideas.

Answer 29

free association method

Question 30

It uses the group discussion method to elicit ideas from participants.

Answer 30

problem inventory analysis

Question 31

is a procedure of answering a problem with mechanism and technique incorporating creativity

Answer 31

Creative Problem Solving (CPS)

Question 32

Is usually applicable for business ideas that require substantial initial investments or those that are undertaken.

Answer 32

traditional approach

Question 33

It starts with the recognition of an opportunity and proceeds directly to the grabbing of the opportunity after sensing that it can be done.

Answer 33

intuitive approach

Question 34

This refers to the formation of business ideas.

Answer 34

idea stage

Question 35

Provides information about collateral or tangible assets that can be secured for the loan.

Answer 35

lender

Question 36

4 C’s of credit

Answer 36

character
cash flow
collateral
equity contribution

Question 37

key factors affecting creativity which are group in 4 categories

Answer 37

Problem Solving factors
Motivational Factors
Situational Factors
Organizational Factors

Question 38

six steps are followed in Osborne-Parnes model

Answer 38

1. setting the objective
2. Revisiting the objective
3. Identifying the problem
4. Looking for solution
5. Selecting solution
6. Accepting the solution.

Question 39

full name ni miss

Answer 39

Madel P. Erandio