Divine Word College of Legazpi

SCHOOL OF BUSINESS, MANAGEMENT AND ACCOUNTANCY

Legazpi City

GE Elec 14
Entrepreneurial Mind
WORKSHEET LESSON 10 - MANAGING PROJECTS WITH UNCERTAIN OUTCOMES

UNCERTAINTY 1. Business ______refers to situations in which businesses face risks that can't be
foreseen or measured.
MARKETING MIX 2. A business must adapt its _______to continue to be effective at meeting its
customers' needs.
UNPREDICTABLE 3. The Great Recession of 2008 was an economic crisis with _____outcomes.
INFLATION RISK 4. It is also referred to as purchasing power risk.
UNSYSTEMIC RISK 5. This refers to risks that are not shared with a wider market or industry.
POLITICAL ECONOMY 6. The _____of the environment refers to how people control and,
periodically, struggle for control over institutions and organizations.
INSUFFICIENT INFORMATION 7. Because of ________about the present condition, it is hard to
define or predict future outcomes or events.
PROBABILITIES 8. In uncertainty, _______cannot be applied to the potential outcomes, because they
are unknown.
TECHNOLOGIES 9. As a project progresses and new _____ are developed, it may not be possible to
use the older versions of the product.
INNOVATION 10. Uncertainty in High-technology start-ups enters industries with very short technology
and product life cycles where constant _______is a must.
AMBIGUITY 11. Entrepreneurs need to confront ________and change on a daily basis.
CALCULATED 12. Successful entrepreneurs take _______ risks and try to turn the odds in their favor.
APPRECIATE 13. To be a top leader, a business owner will need to ________ uncertainty and deal
with it as it appears.
SCAN 14. To identify opportunities worth taking, entrepreneurs continuously _____the Environment.
FLEXIBLE 15. Entrepreneurial strategies and tactics must remain ________
BUFFER 16. In times of great uncertainty, adaptability serves as a ____ for the core technologies and
competencies of the organizations.
LEADING INDICATORS 17. Used to predict changes in the project, but they are not always accurate.
HIGHER 18. The higher the risk, the ____the expectation of returns, because investors are paid off for
the additional risk they take on their investments.
BUSINESS RISK 19. Anything that threatens a company's ability to achieve its financial goals is
considered a __________.
FINANCIAL RISK 20. It is a type of danger that can result in the loss of capital to interested parties.
COLLABORATIONS 21. Forming alliances and other types of _______could offer stability in what is
an otherwise turbulent environment.
CANDID 22. To build trust, leaders can provide _______communication that is factual, involves
relevant stakeholders, and demonstrates vulnerability and humanity.
MEASURE 23. Brainstorm all the potential risks that could occur in business and ______each risk as
low, medium, or high based on likelihood and impact.
MITIGATE RISK 24. Project managers, must know how to ______and use it as a core strategy in
project management.
PROGRESSES 25. A project management milestone is a measurement or way to monitor how a
project _________.