Describe the 4Ms (Manpower, Method, Machine, Materials) of operations in relation to the business opportunity: 4.1.1 Develop a product description; 4.1.2 Create a prototype of the product; 4.1.3 Test the product prototype; 4.1.4 Validate the service description of the product with potential customers to determine its market acceptability; 4.1.5 Select/pinpoint potential suppliers of raw materials and other inputs necessary for the production of the product or service; 4.1.6 Discuss the value/supply chain in relation to the business enterprise; and 4.1.7 Recruit qualified people for one’s business enterprise
Determine the possible product/s or service/s that will meet the need;
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Q 1/20
Score 0
The following are the fundamental characteristics of an entrepreneur EXCEPT.
30
Future oriented
Copes with uncertainty
Small-minded
Committed
Q 2/20
Score 0
This involves developing and using logical, step-by-step plans or offering evaluation alternatives, monitoring progress and switching to successful strategies to achieve the goals you want.
30
Willing to listen
Responds to feedback
Set your own standard
Take the initiative
20 questions
Q.
The following are the fundamental characteristics of an entrepreneur EXCEPT.
1
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Q.
This involves developing and using logical, step-by-step plans or offering evaluation alternatives, monitoring progress and switching to successful strategies to achieve the goals you want.
2
30 sec
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Q.
It refers to the ability to take measured or calculated risks.
3
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Q.
Mr. Chavez believes that , in order to have successful business one should first believe in his/her self. What trait did he possess?
4
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Q.
It is considered as a major priority in the entrepreneurs life.
5
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Q.
What PEC's must an entrepreneur if he/she is interested in money generation?
6
30 sec
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Q.
Dianne is very flexible and open-minded, she obtain useful feedback and advice from others. What PEC's did she demonstrated?
7
30 sec
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Q.
People who work for someone else
8
30 sec
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Q.
Evaluation of your strengths and weaknesses
9
30 sec
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Q.
People who own, operate, and take a risk of a business venture
10
30 sec
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Q.
The ability to learn a particular kind of job
11
30 sec
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Q.
True or False. Being a boss is NOT a disadvantage of Entrepreneurship
12
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Q.
True or False. Making decision alone is an advantage of Entrepreneurship
13
30 sec
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Q.
What type of entrepreneurial business actually produce the products they sell?
14
30 sec
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Q.
What type of entrepreneurial business sells products to people other than the final customer?
15
30 sec
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Q.
What type of entrepreneurial business sells products directly to the people who use or consume them?
16
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Q.
What type of entrepreneurial business sells service instead of a product?
17
30 sec
CS_EP11/12ENTREP-0h-j-12
Q.
What is an office memorandum?
18
30 sec
CS_EP11/12ENTREP-0h-j-12
Q.
If you own your own business you will need to know how to calculate your profit. Which one is a calculation of profit?
19
30 sec
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Q.
What type of economy allows the government to determine what, how, and whom products and services are produced?
