Republic of the Philippines

PHILIPPINE STATE COLLEGE

OF AERONAUTICS
Mactan Campus, BGBNEAB, Lapu-
Lapu City

Institute of engineering and technology

PRELIM EXAMINATION
2nd Semester Academic Year 2020-2021
GEC 4110
ENTREPRENEURIAL MIND

Name: Sancho, James Russell S. _ID#: ___11819-04502__Date: _05-05-21__

Course: BSAMT Year & Section: _III - Juliet_ Score: __________________

I. IDENTIFICATION
Directions: Read the statements or meaning carefully. Identify the correct answer of the meaning and statements of
the following items. Write your answer in the blank provided on your Test Questionnaire. (26 pts)
Intrapreneurship 1. Also known as corporate entrepreneurship.
Established entrepreneurs 2. Individuals still managing a successful business after the first 42-months.
Potential entrepreneurs 3. Individuals who are interested on potentially creating a business and have identifies
opportunities to do so.
Early stage entrepreneurs 4. Individuals engaged in the beginning steps of creating a business and the business has not
been operating for over 42- months.
Entrepreneurs 5. They always search for change, responds to it and exploits it as an opportunity.
Occupational notion of entrepreneurship 6. Owning and managing one’s own business enterprise.
Entrepreneurship 7. Is widely recognized as a process which involves businesses of all sizes, be they knew or
preexisting, owner-managed, family-run or corporations.
Planning 8. A critical component of strategic management practice.
Environmental scanning 9. The managerial activity of monitoring events and trends in an
organization’s environment.
Locus of planning 10. It refers to the depth of employee involvement in a firms strategic
planning activities.
Planning horizon 11. Which is the length of the future time period that decision-makers consider in planning.
Control systems 12. A system to ensure a business strategy meet predetermined goals and objectives.
Strategic and financial controls 13. Control systems that stimulate innovation, proactiveness, and risk-taking.

II. ESSAY. Discuss your answer in not less than five sentences and not more than 30 sentences. (50 pts)
Criteria 10 points 7 points 5 points 3 point

Correct explanation Explanation 100 % Explanation is 75 % Explanation is 50 Below 50% or the

correct correct % correct content of the answer is
very far

14-38.

1. What is the difference between entrepreneurs and businessman?

- It's a common misconception that a businessman and an entrepreneur are the same person, but the two
terms apply to two different people who have different approaches to business. To put it another way, a
businessman follows a pre-determined course carved out by someone else with an unoriginal idea, while
an entrepreneur believes in forging his own path with fresh ideas. An entrepreneur has the potential to
become a businessman in the future. However, there is a fine line between a businessman and an
entrepreneur. A businessman is a market competitor, while an entrepreneur is a market leader. We'll
explain the distinctions between businessman and entrepreneur in the following article.
 2. What is corporate entrepreneurship?
- Corporate entrepreneurship, also known as intrapreneurship, is the idea of encouraging workers to think
and act like entrepreneurs while remaining within the boundaries of an established organizational
framework. Employees with the right vision and experience are encouraged to spot opportunities and
grow innovations that lead to new goods, services, and even business lines. Instead of making tiny,
gradual improvements, corporate entrepreneurship initiatives can generate innovative ideas. In addition,
rather than being introduced by management, workers are more likely to lead innovation.

3. What is the importance of human resource management in the emerging firm?

- The successful management of people in an organization is known as human resource management. HR
management aids in the alignment of employee success with the organization's strategic goals.
Furthermore, an effective HR management team will offer businesses a competitive advantage. Human
resource management is an essential part of every company's operations. It is an organization's human
resource system that decides what types of employees are needed to support the organization's goals and
processes, as well as the criteria for recruiting the desired staff.

4. Explain the importance of entrepreneurial marketing?

- Entrepreneurial marketing entails creativity, taking risks, and being proactive. Entrepreneurial marketing
strategies aim to highlight a company's most important assets while highlighting their appeal to customers.
To set yourself apart from the competition, concentrate on new goods or superior customer service.
Entrepreneurial marketing helps level the playing field by allowing small businesses to expand without
the benefits of larger, more developed companies. Small businesses that face more difficult external
environments, on the other hand, may need more aggressive marketing strategies to effectively compete
and grow market share.

5. Explain e-marketing?
- E-marketing (also known as electronic marketing) is a form of marketing that takes place over the
internet. Internet marketing and online marketing are two synonyms for E-Marketing that are often used
interchangeably. E-marketing is the process of promoting a business, product, or service over the Internet
through computers and mobile devices. E-marketing is the preparation and execution of product and
service conception, delivery, promotion, and pricing in a computerized, networked environment, such as
the Internet and the World Wide Web, to promote exchanges and meet consumer demands.

III. Enumeration. Read the questions carefully. Remember and enumerate the correct answers. (24 pts)

39-50.

1. What are the two current issues of entrepreneurship?

 Managing growth and change
 Cultural considerations
2. What are the five business forms?
 sole proprietorship
 corporation
 limited liability company (LLC)
 joint venture
 some form of partnership
3. What are the two dominant legal concerns in the choice of a business form?
 Liability
 taxes
4. What are the three protection that the government provides for intellectual property?
 Patent
 Trademark
 copyright law

Prepared and Submitted by:

FAITH B. BALASABAS
Instructor I