1.

__________ is the first step and is the most difficult process of all due to the number of options that the
entrepreneur will have to choose from.
A. Opportunity Screening C. Opportunity Skimming
B. Opportunity Seizing D. Opportunity Seeking

2. __________ is the process of cautiously selecting the best opportunity.

A. Opportunity Skimming C. Opportunity Seeking
B. Opportunity Screening D. Opportunity Seizing

3. __________ is the last step in opportunity spotting and assessment. The pushing through with the choosen
opportunity.
A. Opportunity Seeking C. Opportunity Screening
B. Opportunity Seizing D. Opportunity Skimming

4. __________ is the framework that most of the promising entrepreneurs use to finally come up with the
ultimate product and service suited for specific opportuinity.
A. Opportunity C. 3’S of Opportunity Spotting and Assessment
B. Opportunity Skimming D. Seeking the Opportunity

5. __________ is an entrepreneur’s business idea that can potentially become a commercial product or
service in the future.
A. 3’S of Opportunity Spotting and Assessment C. Seeking the Opportunity
B. Opportunity D. Opportunity Skimming

6. __________ is the process of positively improving an existing product or service.

A. Competition C. Innovation
B. Changes in the environment D. Business Resources

7. __________ aims to assist entrepreneur concretize the evidence that the chosen opportunity is well worth
pursuing.
A. Brainstorming C. Opportunity Screening Matrix
B. Focused Group Discussion D. Problem Inventory Analysis

8. __________ is conducted by an entrepreneur with the assistance of a moderator to gather the views of
selected consumers on certain issues related to their buying behavior.
A. Problem Inventory Analysis C. Focused Group Discussion
B. Internet Brainstorming D. Brainstorming

9. __________ is similar to Focused Group Discussion except that the participants are already given an
inventory of product or service problems.
A. Focused Group Discussion C. Brainstorming
B. Problem Inventory Analysis D. Internet Brainstorming

10. _________ is exactly the same as brainstorming except that the channel used is not face-to-face, but in
writing or online.
A. Internet Brainstorming C. Problem Inventory Analysis
B. Brainstorming D. Focused Group Discussion

11. It aims to assist entrepreneur concretize the evidence that the chosen opportunity is well worth pursuing.
A. Opportunity Seeking Matrix C. Opportunity Seizing Matrix
B. Opportunity Screening Matrix D. Opportunity Skimming Matrix

12. _________ a collection of values, beliefs, principles, and expectations learned and shared by employees,
founders, stakeholders, and members of the management.
A. Business Resource s C. Business Culture
B. Business Structure D. Business Ventures

13. _________ refers to the formal organizational arrangement of the business in terms of hierarchy of
positions, flows of communication, relationship of functional areas, and production and marketing processes.
A. Business Ventures C. Business Structure
B. Business Resources D. Business Culture

14. _________ are assets or properties owned or controlled by the business.

A. Business Structure C. Business Ventures
B. Business Culture D. Business Resources

15. _________ are assets of the business that have physical appearance and form.
A. Intangible Resources C. Current Resources
 B. Tangible Resources D. Noncurrent Resources

16. _________ are assets of the business that do not have physical appearance of form.
A. Tangible Resources C. Noncurrent Resources
B. Intangible Resources D. Current Resources

17. _________ are used, applied, or consumed within a short period or one year.
A. Current Resources C. Tangible Resources
B. Noncurrent Resources D. Intangible Resources

18. __________ are properties whose usefulness or benefits extend beyond one year.
A. Noncurrent Resources C. Intangble Resources
B. Current Resources D. Tangible Resources

19. __________ are the workers of the business who are highly responsible for the production of goods or
services or delivery to the customers.
A. Suppliers C. Government
B. Competitors D. Employees

20. __________ are the forces existing in the industry environment that produce, sell, or render products or
services which are similar to those of the business.
A. Direct Competitors C. Direct Customers
B. Indirect Competitors D. Indirect Customers

21. __________ are the forces existing in the industry environment that produce and sell substitute products.
A. Indirect Competitors C. Indirect Customers
B. Direct Competitors D. Direct Customers

22. __________ refers to individual persons or companies that provide the required materials, parts, or
services to the business.
A. Supplementaries C. Segmentations
B. Suppliers D. Corporations

23. __________ are the buyers of goods or services produced or render by the business.
A. Conservers C. Customers
B. Entrepreneurs D. Consumers

24. __________ is the proactive process of developing a business venture to make a profit.
A. Entrepreneur C. Technopreneur
B. Entrepreneurship D. Intrapreneur

25. __________ a unique individual who has the innate ability and extraordinary dedication to establish and
manage a business, acknowledging all the risks and reaping its rewards.
A. Intrapreneur C. Extrapreneur
B. Entrepreneur D. Social Entrepreneur

26. __________ is the last step in opportunity spotting and assessment.

A. Opportunity Screening C. Opportunity Seizing
B. Opportunity Seeking D. Opportunity Skimming

27. It is the process of positively improving an existing product or service.

A. Dealership B. Opportunity C. Franchising D. Innovation

28. __________ is the process of cautiously selecting the best opportunity.

A. Opportunity Seizing C. Opportunity Screening
B. Opportunity Seeking D. Opportunity Skimming

29. A method to market your product or service in a way that is different than other competitor’s marketing
strategies.
A. Unique Selling Proposition C. Promotion
B. Value Proposition D. Selling

30. An analysis or statement of the combination of good and services offered by a company to its customers in
exchange for payment.
A. Unique Selling Proposition C. Value Proposition
B. Selling D. Promotion
31. ___________ is the individuals or companies that are interested in a particular product or service and are
willing and able to pay for it.
A. Market Segment C. Target Market
B. Competitors D. Creditors

32. ___________ is a system for collecting, recording, and analyzing information about customers,
competitors, goods, and services.
A. Market Orientation C. Marketing Research
B. Market Analysis D. Marketing Profile

33. ____________ are data that describe a group of people in terms of their age, marital status, family size,
ethnicity, gender, profession, education, and income.
A. Psychographics C. Decographics
B. Demographics D. Ecographics

34. ____________ are data that describe a group of people in terms of their tastes, opinions, personality traits,
and lifestyle habits.
A. Ecographics C. Demographics
B. Decographics D. Psychographics

35. ____________ is information collected for the very first time to fit a specific purpose.
A. Primary Data C. Tertiary Data
B. Secondary Data D. First Data

36.