Entrepreneurship

Question 1

Developing, conducting, managing, operating, directing, and evaluating a business venture

Answer 1

entrepreneurship

Question 2

Act of discovering new ways of combining resources

Answer 2

entrepreneurship

Question 3

Individual or a collective who develops a new company, carries most of the risks and enjoys most of the benefits of a joint effort through profit

Answer 3

entrepreneur

Question 4

Innovator, source of new ideas, products, services, and business/procedures

Answer 4

entrepreneur

Question 5

etymology of entrepreneur

Answer 5

“entre” to enter; “prendre” to take; “entreprendre” to undertake

Question 6

Endless curiosity to discover new or different ideas

Answer 6

opportunity seeking

Question 7

Quality that allows someone to continue doing/trying something even though it is difficult or opposed by other people

Answer 7

persistence

Question 8

Keeping of an entrepreneur’s word or promise

Answer 8

Commitment work contract

Question 9

Entrepreneurs try to do something better, faster, or cheaper

Answer 9

demand for quality and efficiency

Question 9

Willingness and ability to make decisions and take actions that involve uncertainty, potential loss, and possibility of failure

Answer 9

risk taking

Question 10

When business professionals create specific objectives for the future

Answer 10

goal setting

Question 11

An entrepreneur undertakes personal research on how to satisfy customers and solve problems

Answer 11

information seeking

Question 12

An entrepreneur plans for whatever he/she expects in the business; does not leave things on luck

Answer 12

systematic planning and monitoring

Question 13

An entrepreneur acts to develop and maintain business contacts by establishing good working relationship

Answer 13

persuasion and networking

Question 14

Entrepreneurs must believe in oneself if he/she wants others to believe in him/her

Answer 14

self-confidence

Question 15

a. Began working as a saleswoman in Goodwill Bookstore in Escolta when she was 18 years old
b. Married to Jose Ramos when they put up the National Book Store

Answer 15

Socorro C. Ramos

Question 16

a. Jollibee sold Magnolia Ice Cream instead and it was known as selling chicken and burgers.

Answer 16

Tony Tan Caktiong

Question 17

a. Company was a mess until he worked in the tobacco industry
b. Ambition was to be a scientist but became a businessman
c. Owns Asia Brewery, Tanduay, Fortune Tobacco, Philippine Airlines, Allied Bank, and more

Answer 17

Lucio Tan

Question 18

a. Born in Xiamen, China on December 25, 1923
b. Used to market American Shoes

Answer 18

Henry Sy

Question 19

a. President and chaiman of Ayala Corporation
b. Won several awards (2012 Entrepreneur of the Year)

Answer 19

Jaime Augusto Zobel de Ayala

Question 20

a. Came from a poor family and earned riches because of hard work and determination
b. Zest-O is liked by mothers because of its comfort of being put in a growing children’s lunch box
c. One of the country’s leading juice producers

Answer 20

Alfredo Yao

Question 21

a. First worked at a drugstore
b. Invested his P100 in sulfathiazole tablets
c. Sold his goods by making use of a wooden pushcart

Answer 21

Mariano Que

Question 22

a. Created the Lamoiyan Corp.; manufactures Hapee and Kutitap
b. Received the “Most Excellent Plan for Equal Employment Opportunities Award” as he gives priority to those who have trouble hearing

Answer 22

Cecilio K. Pedro

Question 23

a. Founded CDO Foods
b. A dietician; knew what Filipinos’ tastes were
c. CDO Foodsphere, Inc has been listed as a leading meat topping supplier

Answer 23

Corazon D. Ong

Question 24

A “blueprint”

Answer 24

business plan

Question 25

written document describing in detail how a business — usually a new one — is going to achieve its objectives

Answer 25

business plan

Question 26

sets out a written plan from a marketing, financial and operational point of view.

Answer 26

business plan

Question 27

Use short sentences instead of long complicated ones.
Use simple and straightforward language.
Avoid using shortcuts, jargons, and acronyms.
Use bullet points for lists.

Answer 27

simple/specific

Question 28

Describe the goal clearly.
Contains concrete and measurable objectives.
Include specific actions and activities

Answer 28

measurable

Question 29

Should list out attainable goals
Should specify the goals to achieve
Suggested number of pages is from 20 to 30 pages of text and another 10 pages of appendices.

Answer 29

achievable/attainable

Question 30

Summarize other data by using simple business charts or summary tables such as bar charts, two dimensional bars, pie charts and Gantt charts.
Contains the company’s vision and mission.

Answer 30

realistic/relevant

Question 31

Follow the time-bound plan.
Achieve goals within the time frame

Answer 31

time-bound