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1st Midterm Exam > Tle > Flashcards

Tle Flashcards

1
Q

is the entrepreneurial era

A

21st century

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2
Q

refer to the totality of the personality, knowledge, and other skills that a person must possess to effectively perform his/her functions and responsibilities as an entrepreneur.

A

Personal entrepreneurial competencies (PEC)

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3
Q
  • the ability of the entrepreneur to seize a business opportunity even in situations where other people see nothing but problems
A

Opportunity Seeking

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4
Q
  • the ability to accept responsibility to complete a job for a customer, thus creating a strong impact on customer loyalty
A

Commitment

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5
Q
  • the determination to finish a job at any cost, even in terms of personal sacrifice. This is part of achieving his/her set goals.
A

Persistence

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6
Q
  • The entrepreneur is ready to “expect the
    unexpected” because he/she is aware of the risks that go with the business. However, he/she is also prepared to assess and manage risks and expect earnings based on the risks taken. In business, the higher the risks, the higher the profit or loss.
A

Risk-taking

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7
Q
  • refers to getting things done efficiently and effectively. It involves doing things that meet the expected standards of excellence.
A

Demand for Efficiency and Quality

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8
Q
  • Entrepreneurs have a clear vision of the future, and from this vision, they set clear, realistic, and attainable goals and objectives
A

Goal Setting

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9
Q
  • is about using information to make informed decisions and improve their knowledge of the business Systematic
A

Information Seeking

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10
Q
  • The entrepreneur makes a careful and orderly plan of his/her business activities and continuously monitors the actual performance of the business against the desired standards and goals and then makes the needed decisions to achieve these.
A

Planning and Monitoring

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11
Q

• Entrepreneurs have the ability to establish linkages with significant people and convince and influence others, especially customers. Customer relationship is very important because it is a sure way to build customer loyalty that can translate into good business, good profit, and good sustainability of the business.

A

Persuasion and Networking -

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12
Q
  • This means having a strong belief in oneself to complete a task or meet the challenges of the business. It involves knowing one’s strengths and weaknesses.
A

Self-confidence

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13
Q
  • the ability of the entrepreneur in building harmonious relations with his staff, customers, suppliers, shareholders, investors, and other concerned parties
A

Interpersonal Skills

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14
Q
  • the skill in leading others, in delegating responsibilities, in teamwork, and in encouraging and inspiring workers to follow and be committed to the vision, mission, and goals of the enterprise
A

Leadership and Motivation

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15
Q
  • the proficiency in communicating one’s thoughts, emotions, and ideas to those concerned
A

Communication

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16
Q
  • the ability to listen to both sides of an issue and know how to listen diligently and show empathy when listening
A

Listening

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17
Q
  • the skill to carry out transactions and establish linkages with investors, customers, employees, and prospective clients
A

Negotiation and Networking

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18
Q
  • the correct practice of dealing with stakeholders with respect, integrity, fairness, and truth
A

Ethics

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19
Q

These are skills in which an entrepreneur can easily come up with new and creative ideas through constant practice and nurturing.

A

Critical and Innovative Thinking Skills -

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20
Q
  • It is seeing situations at different perspectives and coming up with an innovative idea.
A

Creative Thinking

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21
Q
  • It is a skill in coming up with sound solutions to problems on hand. Such ability can be acquired through knowledge, training, and experience.
A

Problem-solving and System Thinking

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22
Q
  • The entrepreneur sees opportunity in every situation he/she can easily spot trends, fads, and resources that are related to consumption, profitability, production, marketing, and the like.
A

Recognizing Opportunities

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23
Q
  • knowledge and skills related to the efficient and effective management of the business,
A

Functional Skills

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24
Q
  • This is about being hands-on in the management of the business. This means that the entrepreneur can perform tasks such as using the computer and other technologies, setting goals for the company, planning, organizing, and decision-making.
A

Practical Skills

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25
Q
  • He/She looks at the bright side of things or situations, even in the midst of the business being down. Hel She always looks forward and believes that the best is still to come. person is a happy person.
A

Optimism

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26
Q

must be met immediately or within a given time frame,

A

Needs

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27
Q

can be postponed or set aside until resources become available.

A

wants

28
Q
  • leather, rattan and other native materials, embroidery, beads, broken gadgets, and the like
A

handicrafts

29
Q
  • fruits and vegetables, beans and nuts, pork and beef, fish and seafood, herbs and spices, food services
A

cookery

30
Q
  • soap and detergents, washing powder, brooms and mops, brushes and floor polish, different services
A

household services

31
Q
  • beauty products, beauty services
A

beauty care services

32
Q
  • cooking, first aid, caregiving services, caregiving tools and equipment
A

caregiving

33
Q
  • textile, sewing, ready-to-wear items, designing, embroidery
A

dressmaking

34
Q
  • This is knowing yourself-your strengths and weaknesses, what you know, what you can do, and what you would like to do in the future.
A

Self-awareness

35
Q
  • Do you have within you the drive to make things happen? What gets you interested? What keeps you going? Having the drive to expand your knowledge, sharpen your skills, and improve yourself depends on how intense your urge and your interest are.
A

Self-motivation

36
Q
  • This is a trait inherent to successful entrepreneurs.
    means being brave or fearless. A successful entrepreneur dares to take the risk in business.
A

Courage

37
Q
  • This is a trait that makes a good impression on other people-employees, customers, investors, and other stakeholders. certain of his/her actions and can be trusted and relied on.
A

Confidence

38
Q
  • This is a trait that tests an entrepreneur’s tolerance in handling persistent problems involving personnel, production, marketing, financing, and the like. Being patient requires waiting, and inconvenience is part of the challenges an entrepreneur may face.
A

Patience

39
Q
  • This is similar to being patient and tenacious, which means an entrepreneur can hold fast and strong to his/ her position, especially amid the many problems besetting the business. He/She does not give up easily, even when others are down and feeling hopeless.
    .
A

Perseverance

40
Q

is an industrious person who does not count the number of hours of work. He/ She works with patience and intensity until the work sees its completion. As they say, the key to success is “hard work and more hard work.”

A

Hard Work

41
Q
  • Decisions in business are made now and then.At times when immediate decisions are to be made, he/she can follow his/her intuition and trust himself/herself on this.
A

Decisiveness

42
Q
  • A successful entrepreneur is honest not only to himself/herself but to everyone related to the business. He/She does what is right, even when others are doing what is wrong
A

Integrity

43
Q

Refer to dealing with stakeholders with respect, integrity, fairness, and truth.

A

Ethics

44
Q

It means communicating one’s thoughts, emotions, and ideas to those concerned.

A

Communication

45
Q

What is right, even when others are doing what is wrong.

A

Integrity

46
Q

It is a challenges of an entrepreneur that requires waiting and patients.

A

Patience

47
Q

They pertain to a thing that is necessary and indispensable to a person.

A

Needs

48
Q

These pertain to non-essential things.

A

Wants

49
Q

These pertain to not essential things

A

Wants

50
Q

A process that involves listing of ideas and trimming the down based on the feasibility of resources and in accordance with customer needs! wants.

A

Screening Ideas

51
Q

Refers to the availability of many sources for new ideas.

A

Generating New Product Ideas

52
Q

It is a responsibility to see to it that the money is used to fulfill obligations.

A

Control of Finances

53
Q

Nothing more enjoyable and satisfying than fulfilling something one feels.

A

Passion

54
Q

口
A process that involves identifying business needs and determining solutions to business problems.

A

Business Analysis

55
Q

A number of experts to assess the product quality based on a scorecard.

A

Product Development

56
Q

True or false?

They say that opportunities are not endless.

A

False

57
Q

True or false?
Economic forces (density, size, and distribution of its population).

A

False

58
Q

True or false?

Demography (presence of type and size of businesses and industries).

A

False

59
Q

True or false?

Socio-economic characteristics (occupation, income, and lifestyle of the residents).

A

True

60
Q

True or false?
Presence of competition (offering similar products that will influence consumer demand of the product).

A

True

61
Q

True or false

Part of the requirement before developing a product is finding out the consumer needs.

A

True

62
Q

True or false

• Consumer needs and wants dictate the demand for the product.

A

True

63
Q

True or false?

• The best way to know about consumers in a community is to study the geographical location of the place.

A

True

64
Q

True or false?

• Environmental scanning is knowing about a community through observation, interview, and a simple survey.

A

True

65
Q

True or false?

• Generating ideas can be sourced mainly from what you read in class.

A

False

1st Midterm Exam (11 decks)

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