Quiz 1 from sir's ppt

Question 1

is an owner of business who invests his/her resources to bring an idea to life, setting the direction that transforms that idea into reality, thus providing and gaining value that balances effort, purpose and profit.

Answer 1

An entrepreneur

Question 2

5 Components of an Entrepreneur

Answer 2

Owner who invests resources

Bring an idea to life

Setting direction

Making things happen

Adding value

Question 3

is a person who introduces either a new process, product, service or business model to the marketplace that becomes commercially successful.

Answer 3

An innovator

Question 4

is a person who creates something new but has not attained commercial success.

Answer 4

Inventor

Question 5

KEY FACTORS TO SUCCESSFUL ENTREPRENEURSHIP

Answer 5

Commitment

Competency

Coordination

Question 6

2 Elements of Innovation

Answer 6

NEW

COMMERCIAL SUCCESS

Question 7

3 Ss Requisites to Prosperity

Answer 7

SQUAD –
SPREAD
SPEED

Question 8

An operations and financial challenge. This pertains to a system to manage account receivables effectively.

Answer 8

SPEED

Question 9

Marketing challenge

Answer 9

SPREAD

Question 10

Human resource or team which includes his or her choice of business partners

Answer 10

SQUAD –

Question 11

Is a strong drive to achieve goals and objectives through focus and pro-active follow through.

Answer 11

COMMITMENT

Question 12

Is the organization of different people or groups coming form various functions to attain efficiency, effectiveness and/or impact.

Answer 12

COORDINATION

Question 13

Is having a combination of ability, attitude and behavior to do a particular role or job repetitively well.

Answer 13

COMPETENCY

Question 14

GATE 1: PREPARATION

Answer 14

(Money, Model and Mentors)

Question 15

Is the cash component that creates the cycle of wealth conversion and prosperity.

Answer 15

Money

Question 16

Is the business model or the big picture plan to generate sales revenues, profit, cash flow, and growth.

Answer 16

Model

Question 17

Are the experienced advisers who can add value to the entrepreneur by giving sound guidance.

Answer 17

Mentors

Question 18

GATE 2: MARKETING

Answer 18

(Mindset, Market, and Message

Question 19

Is about belief that being an innopreneur is better than being just an entrepreneur. Mindset to find a novel differentiation of Unique Selling Proposition (USP) that solves a real problem.

Answer 19

Mindset

Question 20

Is the set of buyers that an entrepreneur focuses attention on.

Answer 20

Market –

Question 21

Is the brand positioning that will be communicated to persuade the target customers to buy.

Answer 21

Message

Question 22

GATE 3: EXECUTION

Answer 22

Machinery, Management Skills, and Methods

Question 23

– Is the ability to carry out the plans through people, rewards and leadership.

Answer 23

Management Skills

Question 24

A system and processes that allow the entrepreneur information and control.

Answer 24

Methods

Question 25

An organization structure that can deliver the value planned.

Answer 25

Machinery

Question 26

GATE 4: SELF- LEADERSHIP

Answer 26

Moving Forward, Mission and Mastery)

Question 27

Building capabilities, knowing the nuts and bolts of the business well, and eliminating gaps in the know-how.

Answer 27

Mastery

Question 28

- Is about purpose or the reason why the business exists beyond making profit.

Answer 28

Mission

Question 29

Is about having the grit to continue the business despite obstacles.

Answer 29

Moving Forward

Question 30

4 Clusters Capacity Requirements

Answer 30

Intelligence quotient (IQ) Creative quotient (CQ) Emotional quotient ( EQ) Adversity quotient (AQ)

Question 31

- for self-leadership, or the capacity to recover and make progress.

Answer 31

Adversity quotient (AQ)

Question 32

- for execution, or the capacity to sense and empathize.

Answer 32

Emotional quotient ( EQ

Question 33

– for marketing, or the capacity to innovate.

Answer 33

Creative quotient (CQ)

Question 34

for preparation, or the capacity to think and reason.

Answer 34

Intelligence quotient (IQ)

Question 35

7 Competencies of an Entrepreneur

Answer 35

``` Risk appetite Sensemaking Customer-Focus Initiative Influence Adaptability Grit ```

Question 36

Persistency to attain long-term goals despite adversity.

Answer 36

Grit

Question 37

Adjusting to external changes while initiating internal changes to attain objectives.

Answer 37

Adaptability

Question 38

Ability to use personal branding and interpersonal styles to gain buy-in from constituents.

Answer 38

Influence

Question 39

– Being proactive in taking prompt actions to attain objectives.

Answer 39

. Initiative

Question 40

Choosing, initiating and sustaining relationships with customers.

Answer 40

Customer-Focus

Question 41

Scanning the environment to detect and interpret what is happening today in order to connect and take actions on potential future outcomes.

Answer 41

Sensemaking

Question 42

sees rewards for taking an opportunities that have potential positive (or negative) consequences.

Answer 42

Risk appetite–

Question 43

being proactive to take prompt actions to attain objectives.

Answer 43

INITIATIVE

Question 44

adjusting to external changes while initiating internal changes to attain objectives.

Answer 44

ADAPTABILITY

Question 45

4 Competencies of an Innovator

Answer 45

Creativity Critical Thinking Collaboration Communication

Question 46

engaging constituents to make them understand and accept your message.

Answer 46

Communication

Question 47

developing relationships with the right partners to attain objectives.

Answer 47

Collaboration

Question 48

offering unique ways to solve defined problems.

Answer 48

Critical Thinking

Question 49

forming a mental image or new ideas about the future.

Answer 49

Creativity

Question 50

what are needed to bring an idea to life

Answer 50

Money Model Mentor

Question 51

What are the levels of strategy

Answer 51

Corporate Level Business Level Functional Level

Question 52

"What industry do we enter/exit and why?"

Answer 52

Corporate

Question 53

What is or could be our competitive advantage

Answer 53

Business level

Question 54

What is the compelling reasons for consumers and customer to buy our products and /or services and prefer us over competition

Answer 54

Functional Level

Question 55

Money advances which may be sourced form indivduals, informal channel or financial intermediaries

Answer 55

Loans

Question 56

Terms of sales advantageous to the seller, as cash with order (cwo), asking for down payment (dp), cash on deliver (cod) or collecting franchise fee upfron

Answer 56

Customer's advances

Question 57

Money invested by an outside individual to a firm

Answer 57

Angel investor

Question 58

Big amount of money invested by an outside individual to a firm

Answer 58

Super Angel

Question 59

Amount of money invested by outside investors

Answer 59

Venture Capital

Question 60

Amount of money invested by outside investors, typically over 10 individuals froming themselves a private equity investing company focusing on firms that already have revenues and profit

Answer 60

Private Equities

Question 61

Amount of money invest via initial public offering (IPO) form the stock market

Answer 61

Going Public

Question 62

Why are partners needed?

Answer 62

Provide initial funding Opening doors to further fund Creating immediate credibility Making the entrepreneur highly accountable

Question 63

Benefits of having a great partner

Answer 63

Provide immediate feedbacks Help give operatonal and strategic directions Provide additional funding Spread out financial risk Narrow knowledge gap Offer immediate credibility to your company Open their network of contacts to you to lower costs or raiser revenues Give an assurance of fairness on dealing with valuation and stock owner ship Mentor on a professional level Mentorship on a personal level

Question 64

What are investors looking for

Answer 64

Market Product People Return of investment

Question 65

To determine if there is a scalable or sustainable market

Answer 65

Market

Question 66

To determine if the value and proposition is compelling and ownable

Answer 66

Product

Question 67

to determine if the entrepreneur is trustworthy and believable

Answer 67

People

Question 68

TO determine if beyond market product and people, it is a good investement

Answer 68

Return on investment

Question 69

a trusted and experience adviser who is interested in the success of the mentee

Answer 69

mentor

Question 70

Qualities of a great mentors

Answer 70

- Interested in the success of the mentee - invest time to listen and understand different situation of the mentees - provide advice, both business and personal - help mentees by tapping into mentor's network - Open doors of opportunities - lessen risk by calling attention to such areas - inspire the mentee - sincerely desire that the entrepreneur succeeds and be even better than them

Question 71

Type of mentors

Answer 71

Operational functional' personal strategic

Question 72

Guides on matter related to present operations, especially key factors for success that the firm should do exceptionally well

Answer 72

Operational

Question 73

client acquisition, presentation and execution

Answer 73

Operational

Question 74

related to support functional areas on which the entrepreneur may need some advice

Answer 74

Functional

Question 75

accounting tax and human resource

Answer 75

Functional

Question 76

Guides on matter related to personal growth

Answer 76

Personal

Question 77

work life harmony

Answer 77

Personal

Question 78

Guides on matter related to the future vision of the entreprenuer

Answer 78

Strategic

Question 79

consulting, service

Answer 79

Strategic