Topic 1 Supplemental and Topic 2

Question 1

7 Steps of Entrepreneurial Journey

Answer 1

Inspiration
Preparation
Assessment
Exploring Resources
Business Plan
Navigation
Launch

Question 2

This mind-set can be exhibited inside
or outside an organization, in profit
or non-profit enterprises and in
business or non-business activities
for the purpose of bringing forth
creative idea

Answer 2

Entrepreneurial Mindset

Question 3

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

Answer 3

Entrepreneurial Mindset

Question 4

“high-____, high-____”, perfectly encompasses the life of an entrepreneur

Answer 4

high risk, high reward

Question 5

What are the risks faced by an entrepreneur

Answer 5

• failure
• unclear product or service goals
• lack of market fit
• wrong team members
• financial risk
• risk of burnout

Question 6

What are the rewards by the entrepreneur

Answer 6

• flexible working schedule
• autonomy
• alignment of career with beliefs
• freedom to choose your colleagues
• new businesses and new markets
  created
• economic development
• profits

Question 7

behavior you impose
on yourself - whether right or
wrong

Answer 7

ethics

Question 8

• doing the right thing
  even without the knowledge of
  other

Answer 8

integrity

Question 9

Areas of Responsibility

Answer 9

Legal
Financial
Ethical
Social/philantropic

Question 10

Desired Outcomes and Compliance

Answer 10

Comply with law – Required by govt
Profits – Required by shareholders
Act fairly and avoid doing harm — expected by shareholders
Be a good corporate citizen – desired by society

Question 12

represent the direction
(whether upward or downward)
that an industry or line of business
is taking; general change in the way business is developing

Answer 12

trend

Question 13

• buying, renting, selling,
  leasing and operating self-owned, leased
  apartment buildings, non-residential and
  dwellings: 41,165

Answer 13

real estate

Question 14

how many business name registrations for
2023?

Answer 14

984,332

Question 15

At its heart, a business generates
value for its customers. A _____ is a specific method used to create and deliver this value; encapsulate all the ‘assumptions about what a company gets paid for

Answer 15

business model

Question 16

types of traditional business model

Answer 16

product, service, shared assets, subscription, lease/rental, insurance, reselling, agency/promotion

Question 17

7 Most Successful Business Models in the Digital Era

Answer 17

1. Advertising-Supported
2. E-commerce
3. Freemium
4. Marketplace/Platform
5. Subscription
6. Aggregator Sites
7. Crowdfunding

Question 18

_________ includes all forms of business transactions, such as the
purchase of goods or services, undertaken through electronic means, such as
telephones, televisions, computers, and the Internet,

Answer 18

Electronic commerce or E-Commerce

Question 19

act of setting up a business that provides a good or service with hopes to secure a
profit

Answer 19

entrepreneurship

Question 20

provides a good or service with the same hopes, but profits are usually directed towards what the business owner has identified as a social issue he/she wants to address
* social
* environmental
* cultural

Answer 20

Social Enterprise

Question 21

this refers to any person or registered entity in the PH which aims to develop an innovative product, process or business model

Answer 21

startup

Question 22

What are the Steps for Business Registration in the PH

Answer 22

Step 1: DTI - Business Name Registration
Step 2: Local Business Permit Registration
Step 3: BIR Registration
Step 4: SSS, Philhealth, Pag-ibig Fund Registration