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ENTREP ST REVIEWER > Lesson 1 A-B > Flashcards

Lesson 1 A-B Flashcards

1
Q

Creating ideas that will cater the neverending needs and wants of the market.

A

THE WORLD OF BUSINESS

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2
Q

This law requires lending institutions to allocate at least eight percent of their total loan portfolio to micro and small businesses.

A

REPUBLIC ACT 9501

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3
Q

Before the amendments, the law requires only a six percent minimum allocation for these, and a minimum two percent allocation for medium enterprises.

A

REPUBLIC ACT 9501

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4
Q

What is the meaning of the acronym MSMEs?

A

Micro, Small and, Medium Enterprises

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5
Q

In the Philippines is defined as any business activity or enterprise engaged in industry, agri-business, services and manufacturing.

A

MSMEs ( Micro, Small and , Medium Enterprises

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6
Q

What is the Asset Size of “Micro” ?

A

Up to P3,000,000 and 1-9 number of employees

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7
Q

What is the Asset Size of “Small” ?

A

P3,000,001-P15,000,000 with the number of 10-99 employees

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8
Q

What is the Asset Size of “Medium” ?

A

P15,000,001-P100,000,000 with the number of 100-199 employees

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9
Q

What is the total record of business enterprises operating in the country based on Philippine Statistics Authority ( PSA) ?

A

1,003,111

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10
Q

On October 16, 2016, this 25-year long term vision was approved and adopted by the Philippine Government with the signing of an Executive Order. 5, s. 2016.

A

AmBisyon Natin 2024

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11
Q

AmBisyon Natin 2040 served as the government’s guide to create and implement policies, programs, and projects to help realize and attain its goals in the next 25 years, particularly in these areas:

A
  • Building a prosperous, predominantly middle-class society where no one is poor
  • Promoting a long and healthy life
  • Becoming smarter and more innovative
  • Building a high-trust society.
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12
Q

What are the 3 strategic outcomes of AmBisyon Natin 2024?

A
  1. Matatag
  2. Maginhawa
  3. Panatag na Buhay
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13
Q

What are the 3 Pillars of AmBisyon Natin 2040 ?

A
  1. Malasakit
  2. Pagbabago
  3. Patuloy na Pag-unlad
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14
Q

What are the impact of entrepreneurship?

A
  • Employment opportunities for Filipinos
  • Establish Industrial linkages
  • Improves foreign exchange rates
  • Supplies the economy with goods and services
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15
Q

Strengthens the role of entrepreneurship in the economic growth of the country.

A

Patuloy ng Pagunlad

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16
Q
  • Adaptation of the modern technology
  • Research and Development
  • Innovation
A

Patuloy ng Pagunlad

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17
Q

Mandates TESDA (Technical Education and Skills Development Authority) to carry out the government’s program consciously and purposively by providing relevant, accessible, high quality, and efficient technical education and skills development.

A

Section 2, RA 7796 TESDA Act of 1994

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18
Q

On July 12, 2019, the Department of Education (DepEd) and TESDA signed a Memorandum of Understanding (MOU) creating a Joint Working Group (JWG) to synchronize technical-vocational-livelihood (TVL) education and skills training in the Philippine basic education system.

A

DEPED and TESDA

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19
Q

On August 7, 2017, the Department of Trade and Industry (DTI) also linked up with TESDA to offer training on entrepreneurship through DTI’s Skills Training for Employment/Entrepreneurship Program (STEEP).

A

DTI and TESDA

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20
Q

What is the meaning of the acronym “TNK” ?

A

Trabaho, Negosyo, Kabuhayan

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21
Q

This joint project also contributes to the national goal of realizing the “inclusive growth towards shared prosperity, powered by smarter Filipino entrepreneurs.”

A

Trabaho, Negosyo, Kabuhayan ( TNK)

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22
Q

What are the entrepreneurship subjects in SHS?

A
  • Broaden your career choices.
  • Gain a better perspective as employees or managers.
  • To become wise investors.
  • To become well-informed consumers
  • Be a good listener
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23
Q

What are the indicators of success in entrepreneurship?

A
  • Innovative products and/or services.
  • Ideas that will catapult to a business.

-The ability to find the suppliers and build trust and confidence.

-Happy and goal-oriented work environment.

  • Satisfied customers.
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24
Q

This term would still have to face many trials and errors to be able to achieve success.

A

Entrepreneur

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25
Q

Is both an art and science of converting ideas into marketable good

A

Entrepreneurship

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26
Q

Is a proactive business venture to make a profit.

A

Entrepreneurship

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27
Q

It involves seeking opportunities for a market.

A

Entrepreneurship

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28
Q

Is the process of the risk that one is willing to take in order to gain profit.

A

Entrepreneurship

29
Q

is the process of searching and using resources effectively and converting them into profitable endeavors.

A

Entrepreneurship

30
Q

In the 19th century, this French classical economist, and scholar coined the French term Entrepreneur from the word entreprendre, which is usually translated as “undertaker” or “adventurer.”

A

Jean-Baptiste Say

31
Q

Who is the founder of Mang Inasal?

A

Edgar Sia

32
Q

Who is the founder of National Bookstore?

A

Socorro Ramos “ Nanay Coring”

33
Q

Who is the founder of Microsoft?

A

Bill Gates

34
Q

Who is the founder of Under Armour ?

A

Kevin Plank

35
Q

Who is the founder of Jollibee ?

A

Tony Tan Caktiong

36
Q

Who is the founder of Apple ?

A

Steve Jobs

37
Q

Who is the founder of Vista Land ?

A

Manuel Villar Jr.

38
Q

Who is the founder of Goldilocks ?

A

Milagros, Clarita , and Doris Leelin

39
Q

Who is the founder of Potato Corner?

A

Jose Magsaysay

40
Q

Who is the founder of Aristocrat ?

A

Engracia Cruz Reyes

41
Q

Who is the founder of mercury drug?

A

Manuel Que

42
Q

Who is the founder of Angksas?

A

Angeline Tham

43
Q

Who is the founder of Happy Skin ?

A

Risa Manaquil Trillo

44
Q

Who is the founder of The Moment Group?

A

Abby Napa

45
Q

Who is the founder of Solar Philippines?

A

Leandro Leviste

46
Q

Who is the founder of SALI ?

A

Aisa Mijeno

47
Q

Who are the authors of the book entitled “ Essentials of Entrepreneurship and Small Business Management” ?

A

Scarborough and Jeffrey Cornwell

48
Q

This book recognized several characteristics entrepreneurs tend to display.

A

“Essentials of Entrepreneurship and Small Business Management”

49
Q

What are the 10 characteristics of entrepreneurship?

A
  1. Desire for responsibility
  2. Risk
  3. Self- reliance
  4. Tolerance for ambiguity
  5. Confidence
  6. Determination
  7. Desire for immediate feedback
  8. High level of energy
  9. Skillfull in Organizing
  10. Value of achievement over money
50
Q

What are the other characteristics of an entrepreneur?

A
  1. High degree of commitment
  2. Creativity and Flexibility
  3. Resourcefulness
  4. Willingness to work hard
  5. Tenacity
51
Q

Who is the founder of Zesto ?

A

Mr. Alfredo Yao

52
Q

Who is the owner of samalamig stand ?

A

Aling Nena

53
Q

What are the kinds of entrepreneurs?

A
  1. Proactively Reacts
  2. Innovator
  3. Create game changing ideas
  4. Risk - taker
  5. Recognizes opportunities
  6. Easily adapts socially
  7. Creates Connections
  8. Makes sound decisions
  9. Analytical and Creative
54
Q

What are the core competencies of an entrepreneur?

A
  1. As a leader One must be very humble, approachable, friendly, and must know how to listen to people’s concerns. Believing that uniting a team would bring out the best in
    every employee, thus bringing out the best performance of the group. He or she must be responsible and decisive and know how to own up to every decision
55
Q

What are the core competencies of an entrepreneur?

A

As a Communicator An entrepreneur knows how to use all forms of communication to effectively share ideas and address certain concerns with their customers or employees

56
Q

What are the core competencies of an entrepreneur?

A

As a Specialist An entrepreneur must be an expert in his/her chosen business. One must understand the totality and specificity of the business.

57
Q

What are the core competencies of an entrepreneur?

A

As a Problem -solver An entrepreneur must possess critical thinking skills and look at problems as challenges or puzzles that need to be solved.

58
Q

What are the kinds of entrepreneur?

A
  1. Technopreneur
  2. Social Entrepreneur
  3. An Intrapreneur
  4. An Extrapreneur
59
Q

An entrepreneur who puts technology at the core of his or her business model.

A

Technopreneur

60
Q

Takes advantage of the country’s social problems and turn them to profitable institutions with the intention of
helping the disadvantaged community rather than making a profit.

A

Social Entrepreneur

61
Q

An entrepreneur in a large company or corporation who is tasked to think, establish, and run a new big idea or project.

A

Intrapreneur

62
Q

An entrepreneur who hops from one company to another to act as the innovation champion, providing creative and efficient solutions.

A

Extrapreneur

63
Q

They are usually the product managers or the business development managers of a company.

A

Intrapreneur

64
Q

The South African entrepreneur is known for Tesla Motors, famous for the first fully electric sports car. And was also famous for being a co-founder of PayPal

A

Elon Musk

65
Q

He Co-founded Apple, and computers with Steve Jobs

A

Steve Wozniak

66
Q

His first successful venture was Pyra Labs, which he help start and laer became Blogger, that was later sold to Google. And was also one of the founders of twitter

A

Evan Williams

67
Q

Founder of Mano Amiga, and Co-Founder of APEC Schools

A

Lyn Pinugu

68
Q

is the President and Founding Partner of Rags2Riches, Inc. (R2R) a social enterprise that was established in 2007. And this company aims to empower Philippine-based artisans, create eco-ethical fashion and home products, and alleviate poverty in Payatas, Quezon City.

A

Reese Fernandez -Ruiz

ENTREP ST REVIEWER (2 decks)

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