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    Lumasag, Ac T. CODE 3056: Let's Check

    Uploaded by

    Kayla Hingking Torayno
    This document provides activities to check understanding of entrepreneurship concepts. Activity 1 involves identifying 10 terms related to entrepreneurship like stages in the entrepreneurial process, motivation as a skill, and market opportunity. Activity 2 involves identifying whether 5 statements about entrepreneurship concepts like skills needed at different stages and parts of the macroenvironment are true or false. The purpose is to assess how deep the understanding is of topics covered in the unit on entrepreneurship.

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    Lumasag, Ac T. CODE 3056: Let's Check

    Uploaded by

    Kayla Hingking Torayno
    132 views4 pages
    This document provides activities to check understanding of entrepreneurship concepts. Activity 1 involves identifying 10 terms related to entrepreneurship like stages in the entrepreneurial process, motivation as a skill, and market opportunity. Activity 2 involves identifying whether 5 statements about entrepreneurship concepts like skills needed at different stages and parts of the macroenvironment are true or false. The purpose is to assess how deep the understanding is of topics covered in the unit on entrepreneurship.

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    This document provides activities to check understanding of entrepreneurship concepts. Activity 1 involves identifying 10 terms related to entrepreneurship like stages in the entrepreneurial process, motivation as a skill, and market opportunity. Activity 2 involves identifying whether 5 statements about entrepreneurship concepts like skills needed at different stages and parts of the macroenvironment are true or false. The purpose is to assess how deep the understanding is of topics covered in the unit on entrepreneurship.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    132 views4 pages

    Lumasag, Ac T. CODE 3056: Let's Check

    Uploaded by

    Kayla Hingking Torayno
    This document provides activities to check understanding of entrepreneurship concepts. Activity 1 involves identifying 10 terms related to entrepreneurship like stages in the entrepreneurial process, motivation as a skill, and market opportunity. Activity 2 involves identifying whether 5 statements about entrepreneurship concepts like skills needed at different stages and parts of the macroenvironment are true or false. The purpose is to assess how deep the understanding is of topics covered in the unit on entrepreneurship.

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    LUMASAG, AC T.

    CODE 3056

    Let’s Check

    Let us try the following activities to check your understanding in this unit.

    Activity 1. Identification. In the space provided, write the term/s being asked in the
    following statements: (One point each)

    Mindset 1. This refers to a person's tendencies especially when reacting to


    information. This can be fixed or growth-oriented.
    Growth Mindset 2. The type of mindset that is open for improvements.
    Fixed Mindset 3. "My talents and skills will never improve". What mindset is this?
    Entrepreneur 4. This refers to a person who creates value, innovate and pursues
    opportunities.
    Breakthrough 5. This innovation happens when there is a completely new product
    or service.
    Incremental 6. This innovation happens when the business owner decided to
    improve several features of his product.
    Open 7. This innovation happens when the fertilizer company is
    communicating with farmers to better address their needs.
    Entrepreneurial Mindset 8. This refers to the constant ability to seek opportunities, take
    risks and make an idea into a reality.
    Effectuation 9. This process starts when one is evaluation what he has and
    calculates possible outcomes.
    Value 10. This refers to the customers’ evaluation of the product’s
    usefulness in meeting his needs.
    Activity 2. True or False. In the space provided, write T if the given statement is true and F if
    false. (One point each).
    F 1. Mindset is always fixed.
    T 2. An entrepreneur is up for innovation.
    T 3. Innovative activities are limited to new goods and new markets.
    F 4. Reverse innovation happens when a third party is discussing ways to
    improve current product.
    F 5. The case for Nestle noodles is an example of disruptive innovation.

    Let us try the following activities to know how deep your understanding of the
    topics of this unit is.

    Activity 1. List 5 entrepreneurs you know and cite 3 remarkable traits they have.

    Names Remarkable Trait


    Example : Richard Branson 1. pursuing innovative ideas
    2. persistent in getting funding
    3. people-oriented
    1. Joe Magsaysay – Potato Corner 1. Optimism
    2. Risk-taker
    3. Adaptability
    2. Milagros, Clarita, and Dolores 1. Passionate
    Leelin – Goldilocks 2. Motivated
    3. Product or service knowledge
    3. Cresida Tueres – Greenwich 1. Decision – making
    Pizza 2. Self – confidence
    3.Goal mindset
    Let’s Check

    Let us try the following activities to check your understanding in this unit.

    Activity 1. Identification. In the space provided, write the term/s being asked in the following
    statements: (One point each)

    Stage 2 1. When one lost his job, he became convinced to pursue


    entrepreneurship. What stage is this in the entrepreneurial process?
    Motivation 2. This is as a skill is considered important in all of the stages in the
    entrepreneurship process.
    Idea/scanning the environment 3. This involves macro scanning and micro scanning.

    Macro-environment of the firm 4. This includes demographic forces, economic factors,


    technological factors, legal factors, political factors, geographic factors, cultural factors etc.
    Developing the Opportunity 5. This stage is the process of combining resources in order to
    pursue the identified market opportunities.
    Product or service 6. This business factor is being considered when one is asking questions
    about the competitive advantage of the product or service idea.
    Capital requirements 7. This business factor is being considered when one is asking about the
    list of potential investors.
    Focus 8. This business factor is being considered in evaluation a team when one
    is asking about the entrepreneurial background of the founder.
    Communication skills 9. In selling as a business factor for evaluating an entrepreneurial
    team, what are the two skills needed?
    Market opportunity 10. When one is asking about a niche market, the business factor being
    considered is called?

    Activity 2. True or False. In the space provided, write T if the given statement is true and F if
    false. (One point each).
    T 1. The gathering of resources started to become an important skill from stage 2 until
    stage 4.
    F 2. Creativity can be seen as an important skill for stage 1 and 3.
    T 3. Motivation as a skill is considered important in the 3 stages of the entrepreneurship
    process.
    T 4. Communication, operations and innovation skills are considered key skills in stage 3.
    F 5. Earthquakes and other geographic considerations are part of the microenvironment.

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