Week 2

Question 1

Allows the entrepreneur to see things in a very positive and optimistic way in the midst of difficult situation.

Answer 1

Entrepreneurial Mind Frame

Question 2

Entrepreneurial heart Flame

Answer 2

Entrepreneur’s driven passion, they are attracted to discover satisfaction in the act and process of discovery.

Question 3

Is the great desire of an entrepreneur to achieve his/her goal

Answer 3

Passion

Question 4

Ability of the entrepreneur of being intuitive. also means confidence in one’s self and the firm believes that everything you aspire can be reached

Answer 4

Entrepreneurial gut game

Question 5

Changes in the environment

Answer 5

Entrepreneurial ideas arise when changes happen in the external environment. A person with an entrepreneurial Drive views these changes positively.

Question 6

refers to the physical environment, societal environment, and industry environment where the business operates

Answer 6

External Environment

Question 7

The weather conditions

Answer 7

Climate

Question 8

Such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain

Answer 8

Natural recources

Question 9

Includes all mammals, bird, reptiles, fish,, etc., that live in the wild

Answer 9

wildlife

Question 10

includes all the laws, rules, and regulations that govern business practices as well as the permit, approvals , and licenses necessary to operate the business

Answer 10

Political forces

Question 11

Such as income level and employment rate

Answer 11

economic forces

Question 12

customs, lifestyles and values that characterized a society

Answer 12

sociocultural forces

Question 13

new inventions and technology innovations

Answer 13

Technological environment

Question 14

a person with entrepreneurial interest sees possibility of business opportunities in any new discovery or because of the use of latest tech

Answer 14

Technological discovery and advancment

Question 15

The priorities, projects, programs, and policies of the government are also good sources of ideas.

Answer 15

Government’s thrust, programs, and policies

Question 16

The interest, hobbies, and preferences of people are rich sources of entrepreneurial ideas

Answer 16

People’s interest

Question 17

Expertise and skills develop by a person who has worked in a particular field may lead to the opening of related business

Answer 17

Past experiences

Question 18

an industry environment is a competitive environment. regardless of what product or services you have, competition is always present

Answer 18

Forces of competition model

Question 19

it is the act or process of tryng to get or win something.

Answer 19

competition

Question 20

the one that pays cash in exchange to your goods and services

Answer 20

Buyers

Question 21

State or situation in which people or groups are competing with each other

Answer 21

Rivalry among existing firms

Question 22

Means anything that takes the place or function of another

Answer 22

Substitute products

Question 23

Are the one that provide something that is needed or wanted

Answer 23

Suppliers