Mindset

Question 1

is a course of action that involves all functions, activities
and actions associated with identifying and evaluating
perceived opportunities and the bringing together of
resources necessary for the successful formation of a
new firm to pursue and seize the said opportunities.

Answer 1

ENTREPRENUERIAL PROCES

Question 2

THE SUM OF YOUR KNOWLEDGE, INCLUDING BELIEFS AND THOUGHTS ABOUT
THEWORLD AND YOURSELF IN IT

Answer 2

MINDSET

Question 3

YOUR FILTER FOR INFORMATION YOU GET IN AND PUT OUT. DETERMINES HOW YOU RECEIVE AND REACT TO INFORMATION. A HABIT

Answer 3

MINDSET

Question 4

when one perceives his talent and abilities as a set of
traits

Answer 4

FIXED MINDSET

Question 5

when one perceives his talent and abilities as a set
that can be improved.

Answer 5

GROWTH MINDSET

Question 6

1. New goods
    2. New methods of production
    3. New markets
    4. New sources of inputs
    5. New types of organizing

Answer 6

INNOVATIVE ACTIVITIES

Question 7

This means new products or service that initially started at
the bottom of the marketplace but eventually moved up and removed the
competitor.

Answer 7

Disruptive innovation.

Question 8

This innovation happens when a product was first introduced in
developed countries and later introduced in developed markets

Answer 8

Reverse.

Question 9

happens when small improvements on
the products or service are done but not totally changing the entire product or
service

Answer 9

Incremental.

Question 10

This innovation happens when a new product or service that has
never existed appears in the market

Answer 10

Breakthrough.

Question 11

This innovation occurs when a company taps the internal and external
ideas to improve their current operations

Answer 11

Open.

Question 12

a specific state of mind that orientates human conduct toward seeking
opportunities, taking risks to realize those opportunities and have the
tenacity to push an idea through to make it a re

Answer 12

ENTREPRENEURIAL MINDSET

Question 13

refers to the awareness and focus on identifying an opportunity through
solving a problem, and a willingness to move forward to advance that
idea

Answer 13

ENTREPRENEURIAL MINDSET

Question 14

The process of planning and executing conception,
pricing, promotion, and distribution of ideas, goods, and
services to create exchanges that satisfy individual and
organizational objectives.

Answer 14

MARKETING

Question 15

. “The activity of meeting people who might
be useful to know, especially in your job.

Answer 15

Networking

Question 16

environment
opportunities
role models
creativity

Answer 16

Innovation

Question 17

. This involves macro scanning and micro
scanning.

Answer 17

Idea/scanning the environment.

Question 18

s the environment that has a direct impact
on the business being planned. It includes customers, suppliers,
intermediaries, competitors and the general public

Answer 18

The micro environment

Question 19

s composed of environments that the company
can’t control but can be really easily affected by it. It includes
demographic forces, economic factors, technological factors, legal
factors, political factors, geographic factors, cultural factors etc

Answer 19

macro-environment

Question 20

 The goal here is to seek better ways of surviving the existing competition

Answer 20

Identifying the opportunity

Question 21

the process of combining
resources in order to pursue the identified market opportunities. A systematic
research in order to refine the ideas of an entrepreneur is necessary in this stage

Answer 21

DEVELOPING OPPORTUNITITES

Question 22

• screening and evaluation
  part is critical. A professionally evaluated product or service is essential before
  taking the risk.

Answer 22

EVALUATING THE OPPORTUNITY

Question 23

A team with strong skills can pursue
opportunities better. After evaluating an opportunity, it is essential to check on
the people who will make the idea into a reality

Answer 23

EVALUATING THE TEAM