Personal Sources of Opportunities, Macro-environmental Factors

Question 1

Creates value by introducing products or services or finding better ways of making them.

Answer 1

Entrepreneur

Question 2

The main objective is simply to earn profit from producing, buying, and selling goods and services.

Answer 2

Ordinary Businessman

Question 3

8 Personal Sources of Opportunities

Answer 3

1.Education and Training
2.Innate Skills and Hobbies
3.Work Experiences and Exposures
4.Family Ties and Connections
5.Conducive Entrepreneurial Environment
6.Serendipitous Encounters
7.Brainstorming and Experimentations
8.Unexpected Success and Failures

Question 4

refers to the “big or macro forces” that affect the area, the industry, and the market. It influences how business should be conducted, how consumers will behave, how supply and demand will move, how different competitors would position themselves and how the cost of doing business will proceed.

Answer 4

Macro-Environment Sources

Question 5

Macro-environment divided into five categories.

Answer 5

SPEET
1. Socio-Cultural
2. Political
3. Economic
4. Ecological
5. Technological

Question 6

:represent a general view of a locality’s traditions, custom, beliefs, norms, and perceptions.
:includes the demographics and cultural dimensions that govern the relevant entrepreneurial endeavor

Answer 6

Socio-Cultural

Question 7

:Define the governance system of the country or the local areas of business.
:Includes political policies and processes, as well as permits, approvals, and licenses to operate the business.

Answer 7

Political

Question 8

:primarily caused by changes or movements in the Philippine Economy.
:affects revenues and cost and the supply and demand of the industry and the business being studied.

Answer 8

Economic

Question 9

:Includes all natural resources and the ecosystem that includes all human beings, animals, plants, and minerals
:includes environmental sources such as weather, climate, climate change, and other associated factors such as water shortages.

Answer 9

Ecological

Question 10

:Includes the pace of technological change and technical developments that have the potential for wide-ranging effects on society.
:The entrepreneur is left with no choice but to invest in new technologies in order to keep up with competition.

Answer 10

Technological