MODULE 1 & 2 ANSWERS – ENTREPRENEURSHIP

MODULE 1

PRE-TEST: Instruction: Read the statements carefully then write True if the statement is correct & write False if you
think the answer is not correct.
True 1. Entrepreneur means “to undertake.”
True 2. Entrepreneurship is a process of actions of an entrepreneur who is always in search of opportunities.
True 3. The greatest significance of entrepreneurship is to help identify and develop the managerial capabilities of
entrepreneurs.
True 4. Entrepreneurship will lead to the creation of organizations.
False 5. Entrepreneurship can improve the life of the entrepreneur only.
False 6. Coward people will become successful entrepreneur.
True 7. An entrepreneur is a “Risk Taker”.
False 8. Entrepreneurship is not an economic activity.
True 9. Entrepreneurs are innovative.
True 10. Profit potential is the compensation of the entrepreneur.
True 11. An entrepreneur can become a business consultant.
True 12. An entrepreneur can also be a researcher.
True 13. An entrepreneur can also become a salesman.
True 14. Entrepreneurship graduates can become a business reporter.
False 15. The entrepreneur could easily see the results of his efforts.

Activity 2 Self- Assessment

Direction: Find out if you have the qualities of an entrepreneur. Put a check mark on the box.
Qualities YES NO
Risk Taker
/
Communicator
/
Leader
/
Opportunity Seeker
/
Proactive
/
Innovator
/
Decisive
/

Assessment
Now, that you are finished accomplishing the module, let us check what you have learned. Answer the questions
given below by encircling the letter of the correct answer.

1. The entrepreneurs who create new ideas are called?

a. Innovative b. imitating c. Fabian d. Drone
2. The entrepreneur who lives on the labor of others is called?
a. Drone b. Fabian c. Imitating d. Innovative
3. These are entrepreneurs who are to follow the path shown by innovative entrepreneur.
a. Innovative c. Social Entrepreneurs
b. Imitating d. Fabian

4. Which of the following is NOT a function of an entrepreneur?

a. Skills management c. Conduct research
b. Risk taking d. Make no changes with his product
5. Entrepreneur means:
a. Risk taker b. To undertake c. To research d. To improve standard living
6. It is a personality factor which means “doing things even before being told”
 a. proactive b. perseverance c. persuasion d. initiative
7. It is a personality factor which means convincing customers to buy the product
a. Proactive b. persuasion c. Self-confidence d. risk taker
8. Which of the choices is NOT part of the environmental factors?
a. Political c. climate
b. Weather condition d. family background of the manager
9. All except one does NOT belong to the group?
a. Unfair trade practices c. Political protest
b. Strikes d. Product
10. The entrepreneur who is skeptical about the changes in the company is called?
a. Fabian b. social entrepreneur c. Drone d. imitating
11. Which is NOT a career for an entrepreneur?
a. Business consultant c. Research and Development
b. Sales d. Domestic Helper
12. They are entrepreneurs who drive social innovation and transformation in various fields.
a. drone b. social entrepreneur c. Fabian d. imitating
13. Which of the statements below is true?
a. Entrepreneur has limited career opportunities
b. Entrepreneurs are prone to constant high income
c. Entrepreneurs are contributor to the development of the society
d. Entrepreneurs are the reasons for unemployment problem
14. Which of the statement is NOT true?
a. An entrepreneur will patiently wait for his efforts to bear fruit.
b. The profit of the entrepreneur is immediate.
c. All entrepreneurs are successful
d. Entrepreneurs are researchers
15. Which of the following is NOT true?
a. Entrepreneurship create organizations C. entrepreneurs improves the economy
b. Improves the life of the entrepreneur alone d. None of the choices

MODULE 2

What I Know
Let’s check first what you already know.
True or False. On the space provided before the number write T if the statement is true and F if the statement is false.
T 1. Entrepreneur enter a business because of its profitability.
__T___ 2. New business ideas provide business opportunities.
___F__ 3. Entrepreneurial process starts with identification of entrepreneurial opportunities.
___F__ 4. Not all changes in the external environment provides business opportunities.
____T_ 5. Discovery and advancement in the use of technology are additional good source of business opportunities.
__T___ 6. Interest and hobbies of the people are possible good source of entrepreneurial ideas.
____F_ 7. Industry environment of business is under technological discovery and advancement sources of
opportunities.
__F___ 8. The variables in the physical environment include the economic forces.
___F__ 9. Entrepreneurial heart flame refers to the ability of the entrepreneur to sense without using the five senses.
___T_ 10. Entrepreneurial mind frame permits the entrepreneur to see things in a very positive and optimistic light.
_T____ 11. The business operates in the industry environment.
_T___ 12. Opening a Halo – halo business during summer seasons.
___T_ 13. Environmental scanning is conducted only when a new business is opened.
__F__ 14. When the barriers to the competitive forces are high, the effect to the growth of the business is likewise
high.
___F_ 15. Entrepreneurs need not observe and evaluate the priorities of the government.
 ACTIVITY 1. WORD HUNT
Think of words or terms related to the topic and find the words in the grid horizontally, vertically, or diagonally. Write
the words or terms on the space provided below.
V E N T U R E A B C D E F A B C D E F S
A B N P O H W Q G S D L O S J E T U E Q
B C T R P R O D U C T S R L R E H R B E
C V R E P G O Y T R E P T G S T V A C N
V H E N O V R F D A B C U D E I O G V T
H K B E R C T K R F G E N H C J R K H R
K I C I T H U L V D E O C E U A T U K E
I D V D U K N S J Y I R Z O Q E U Y I P
D G H G N O U A O F G T U X N X N D R
G L K L I P W L R E P U R E P O J O G E
L H Z H T S P K L I O N H L I O M E L N
H A X Q I M I L G C V R I V A L R Y H E
A D S J E T U R E A B B S T I T U H A U
S S U B S T I T U T E S J E T U R F J R
V T U R E A B Q R S J E T U T U R E A B

1. VENTURES 6. OPPORTUNITIES
2. PRODUCTS 7. EMPLOYEE
3.RIVALRY 8. ECONOMY
4. SUBSTITUTE 9. GUT
5.ENTREPRENEUR 10. SERVICE

ASSESSMENT
Direction: Encircle the letter of your choice.
1. It is the process of considering, evaluating, and pursuing market-based activities that are believed to be
advantageous for the firm.
A. Opportunity seeking C. Opportunity screening
B. Opportunity seizing D. Sources of opportunity
2. This is essential to opportunity seeking which allows the entrepreneur to see things in a positive and
optimistic light in the midst of crisis or difficult situations.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. Entrepreneurial gut game D. Entrepreneurial heart frame
3. It is the ability of entrepreneur that can sense without using the five senses, also known as intuition.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. Entrepreneurial gut game D. Entrepreneurial heart frame
4. One of the essentials of entrepreneur’s opportunity seeking that refers to the driven passion of an
individual.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. Entrepreneurial gut game D. Entrepreneurial heart frame
5. What variable of societal environment includes income level and employment rate?
A. Economic forces C. Political forces
B. Sociocultural forces D. Technological forces
For questions 6 and 7 refer to the following statements:
 A. Preferences and tastes of the customers easily change.
B. The buyer has the potential for backward integration.
C. The cost of switching the supplier cost is minimal.
D. Product differentiation is highly noticeable.
6. Which are the factors of the substitute product that pose a great threat in the industry environment?
A. A,B,C,D B. A and C C. A and D D. B and C
7. Which are the factors that influenced the buyer to have a less threats because of the bargaining power?
A. A only B. A and C C. A and D D. B and C
8. They are the one that pays cash in exchange to your goods and services.
A. Buyers C. sellers
B. Competitors D. suppliers
9. The intensity of rivalry among existing firms is characterized to the following factors except one:
A. Diversity of rivals. C. Characteristics of the products or services
B. Number of competing firms. D. Product represents a high percentage of the buyer’s cost
10. The following are the forces competing within the industry except one:
A. Potential new entrants and Substitute Products
B. Buyers and Suppliers
C. Rivalry among existing firms
D. Needs and Wants