Laguna University

Sta. Cruz, Laguna

QUIZ-SSP04

Prof. MARIAN P. ALFONSO, MBA

True or False: Read the sentence carefully and write T if it is correct and F if not.

1. The opportunity is an attempt to interact with clients in trades that meet

their needs while producing returns that allow you to continue to operate
and develop your company over time
2. Effective entrepreneurial processes enable entrepreneurs and teams to
rapidly and efficiently assemble a broad range of resources. Unique
resources such as money, talent and know-how (e.g., accountants, lawyers),
machinery, and manufacturing facilities are combined into all creative and
entrepreneurial projects.
3. Record keeping and accounting and legal process and advice are essential
resources that must be considered at the start of every venture. New
ventures require legal incorporation, financial record keeping, and
rudimentary systems. Resources to provide for these expenses must be
built into the budget.
4. "Ideation" is a course to create, grow and test concepts for the launch of
creative and successful new projects. Ideation includes a process of
experimentation designed to contribute to the development, whether
business or social projects, of diverse and impactful companies
5. A brilliant business idea comes out of nowhere and forcefully latches itself
onto your brain.” — Dale Partridge. That’s what happened with Apple’s
Steve Jobs or Facebook’s Mark Zuckerberg. Good ideas are common but
great ideas require the discipline of the creator.
6. Ideation should be the first investment of anybody who seeks to be an
entrepreneur.
7. Trademarks:: protects the creative work of composers, authors/writers,
artist, film makers, and others. It endures during the lifetime of the creator
and for 50 years after his or her death.
8. Copyrights is a word, name, symbol, or device (or any combination of these)
used by the manufacturers or merchants to identify their goods and
distinguish them from those made or sold by others (Orcullo, 2004).

9. Trade Secrets: Gives an inventor exclusive legal right to exclude anyone else
from manufacturing, selling, marketing, importing, or using an invention
during the life of the patent- which is 17 years under the Philippine laws
(Orcullo, 2004)
 10. Patents: Trade secrets are intellectual property (IP) rights on confidential
information which may be sold or licensed. (WIPO, 2000)

MULTIPLE CHOICE: Choose the letter of the correct answer.

ANSWER
11. It refers to a personal interest in the task, e.g., achievement motivation
intrinsic motivations include a large proportion of self-development and self-
actualization
a. INTRINSIC MOTIVATION
b. EXTRINSIC MOTIVATION
12. It refers to an external reward that follows certain behavior
a. INTRINSIC MOTIVATION
b. EXTRINSIC MOTIVATION
13. GEM means
a. Global Entrepreneurship Monitor
b. Global Market Monitor
14. It suggests that there is an internal stimulus, e.g., hunger or fear, driving the
person and that the individual seeks a way to reduce the resulting tension.
The need for tension reduction thus represents the motivation
a. DRIVE THEORIES
b. INCENTIVE THEORIES
15. It emphasizes the motivational pull of incentives, i.e., there is an end point
in the form of some kind of goal, which pulls the person toward it, such as
achievement motivation in the entrepreneur
a. DRIVE THEORIES
b. INCENTIVE THEORIES
16. An entrepreneur promotes a rational combination of factors of production
on the basis of transfer of resources to the sphere of higher productivity
a. Jean-Baptiste Say (1896)
b. Josef Schumpeter (1936)

17. Entrepreneurship is a concrete activity, practice, the content of which is the

innovation in all spheres, including in management. Profit is not the main
objective of entrepreneurship
a. Peter Drucker (1985)
b. Israel Kirtsner (1998)
18. The entrepreneurial element is the vigilance of the individuals to potentially
profitable opportunities. He considers entrepreneurship as arbitration or as
an activity leading to equilibrium
a. Peter Drucker (1985)
b. Israel Kirtsner (1998)
19. Entrepreneurs are the key drivers that foster economic and social
development in community.
a. Manager
b. Entrepreneurs
10. __________________ is the one who always
searches for change, responds to it and exploits it as an opportunity
a. Manager
b. Entrepreneurs

Good luck 