entrep exam

Kalinga Colleges of Science and Technolgy Moldero St. P5 Bulanao, Tabuk City, Kalinga 3800 College of Criminology THIRD YEAR Prelim Exam 2 Semester S.Y 2019 -2020 nd

ENTREPRENEURIAL MIND/ARTS

Name: ________________________ Section: ______________ Date: ______________ Score:_______ General Instruction: ANY FORM OF ERASURE ON THE ANSWER SHEET WILL NOT BE GIVEN CREDIT TEST I. MULTIPLE CHOICE: Choose the correct answer by writing the letter beside the number. (2 pts. each)

____1. It harnesses the potential of new products by creating the market space for them. A. Technical mind B. Creative mind C. Business mind D. Passionate ____2. Refers to the ability of the entrepreneur to sense without using five senses. A. Entrepreneurship B. Entrepreneur C. Entrepreneurial Gut Game D. Creative mind ____3. It is the great desire to attain a vision or fulfill a mission A. Technical mind B. Passion C. Business mind D. Passionate ____4. Conceptualizes and designs a product that consumers find some use for it. A. Technical mind B. Creative mind C. Business mind D. Passion ____5. An entrepreneur readily identifies opportunities for going into or to improve his/her business. A. Risk-Taking B. Information Seeking C. Opportunity D. Goal-Setting ____6. He prefers tasks which provides him some challenges. A. Risk-Taking B. Information Seeking C. Opportunity Seeking D. Goal-Setting ____7. An achievement-oriented individual, the entrepreneur sets out the accomplishment of tasks. A. Risk-Taking B. Information Seeking C. Opportunity Seeking D. Goal-Setting ____8. The entrepreneur continuously seeks for relevant information regarding the markets, clients, suppliers and competitors and consult expert’s advice on business and other technical matters. A. Risk-taking B. Information Seeking C. Opportunity seeking D. Goal-Setting ____9. Exposure to parents who are in business or in related situations also seem to help develop entrepreneurship. a. Risk Taking B. Information Seeking C. Early Training in Business D. Early training in craft ____10. The entrepreneur has confidence that she can make things happen. A. Self-confidence B. Risk Taking C. Goal-Setting D. Passion

TEST II. TRUE OR FALSE: Write the word TRUE if the statement is correct and write the word FALSE if the statement is Wrong/incorrect to the blank provided. _________1. The entrepreneurial way of life combines creativity, challenge, work, and satisfaction. _________2. Emotional intelligence is often manifested in the entrepreneur’s efforts to nurture relationships with customers, employees, and suppliers. _________3. An entrepreneur does not give up easily when confronted with obstacles, he is not easily discouraged at Early signs of failure. _________4. Entrepreneur is engaged in buying, while others think that he is a creditor who stands between buyer and customers. _________5. In Chinese writing: Crisis is composed of two characters: Danger and Character.

TEST III. ESSAY: Write your answer at the back page 1. In business enterprise, do you believe that an entrepreneur is born not made? Justify your answer (8 pts.) 2. Do you think entrepreneurs are popular? 3. Explain the quote/saying of Steve Jobs, “People with passion can change the world for the better” in relation to business. (10pts.) 4. Enumerate at least five (5) Entrepreneurial qualities.

 1. entrepreneurs are both born and made. The combination of nature and nurture is also not rare. Each day a new startup is launched, a new innovative idea is conceptualized and success of some kind is had. These newly successful entrepreneurs were born and nurtured toward their achievements. Their application of traits, passion, tenaciousness and yearning for knowledge is at the core of their success — a very special place where nature meets nurture. To some extent, there is truth in this statement that an entrepreneur is born. There are two types of entrepreneurs born. First is the one who is born into a family that already owns a business. The second type of entrepreneur is the one who has no resources and no knowledge when it comes to investment, but he or she is full of ideas. 2. 3. Passion is everything. Following your passion is the secret to overcoming the setbacks all entrepreneurs face and it builds resistance against the inevitable naysayers who will question your vision. It’s also an essential ingredient in successful communication. If you’re not passionate about your ideas, nobody else will be. Successful entrepreneurs are abundantly passionate -- but not necessarily about the product. They’re passionate about their missions. They’re passionate about what their products or services mean to the lives of their customers. They’re passionate about changing the world or disrupting an established category. 4. 5. 1. Resolute motivation and passion The first and foremost quality of a successful entrepreneur is passion.  No one can achieve anything if they do not have the passion for reaching that goal. As a result of this absolute passion, motivation starts to create in an entrepreneur’s mind as he takes on new tasks and learns new things in order to reach that goal. Motivation keeps blood running, helping an entrepreneur to keep hope and overcome obstacles as he or she advances towards the goal. This is why a successful entrepreneur is passionate and motivated in a whole new demeanor.

2. Self-discipline This is one of the most essential characteristics of a successful entrepreneur. If an entrepreneur is able to accomplish essential tasks (whether he is feeling up to it or not), then he will be able to achieve higher success. Self-discipline basically means to master the inner self and inner emotions to generate a sense of responsibility of getting the job done, which fosters self-direction. 3. Risk-taking ability Entrepreneurship is all about taking risks. Entrepreneurs have the ability to take greater risks to achieve greater success, but not all risk-takers are successful entrepreneurs. A successful entrepreneur knows when to take risks and which risks will be beneficial or harmful to the company or himself. All entrepreneurs plan before taking risks and make a plan B (in case of any loss of mishap) and establish a suitable ground for the results of the risks.

4. Creative thinking A successful entrepreneur is a creative thinker with loads of ideas constantly flowing through her mind. This drastic ability to think of a wide range of new ideas helps an entrepreneur to initiate different types of business in a unique, creative way.

5. Persistence Persistence is the most basic and essential quality of a successful entrepreneur because even good entrepreneurs experience failures and hurdles. But with persistence, you’re able to pick yourself back up and keep moving towards your goals. These five qualities will help you become the successful entrepreneur you aim to be. Look for these qualities in yourself, and continue to progress each day for the benefit of yourself and your company.

1. Self-Discipline

The first trait that all successful entrepreneurs must possess is self-discipline. Self-discipline is the single most important quality for success in life and business. If you can discipline yourself to do what you should do, whether you feel like it or not, your success is virtually guaranteed. Self-discipline requires self-mastery, self-control, self-responsibility, and selfdirection. The difference between successful entrepreneurs and failures is that successful entrepreneurs make a habit of doing the things that failures don’t like to do. What are those things? The things that failures don’t like to do are the same things that successful people don’t like to do. But, successful entrepreneurs do them anyways because they realize that this is the price they must pay for the success they desire. 2. Integrity The second trait that all successful entrepreneurs must possess is integrity. Perhaps the most valued and respected quality you can develop is a reputation for absolute integrity. Be perfectly honest in everything you do and in every transaction and activity. Never compromise your integrity. Remember that your word is your bond and your honor is everything when it comes to your business. All successful business is based on trust. Your success in becoming an entrepreneur will be determined solely by the number of people who trust you, are willing to work for you, give you credit, lend you money, buy your products and services, and help you during difficult times. Your character is the most important asset that you develop in your entire life, and your character is based on the amount of integrity you practice. 3. Persistence The third trait that all successful entrepreneurs must possess is persistence. Persistence is the iron quality of character. Persistence is to the character of man as carbon is to steel. It is an indispensable quality that goes hand in hand with all great success in life. Here is one of the great secrets to persistence and success: Program your subconscious mind for persistence well in advance of the setbacks and disappointments that you are going to have on your upward quest toward success. Resolve in advance that you will never give up, no matter what happens.  The courage to persist in the face of adversity and disappointment is the one quality that, more than anything, will guarantee your success. Your greatest asset can be your willingness to persevere longer than anyone else. In fact, your persistence is a true measure of your belief in yourself and your ability to success. 4. A Clear Sense Of Direction The fourth trait that all successful entrepreneurs must possess is a clear sense of direction. Because of the turbulence and rapid change in today’s marketplace, most business owners have been reduced to operating day-by-day, almost like firefighters. They are totally preoccupied with short-term problems and the need to get short-term sales and profits. They intend to spend more time thinking and planning for the future, but they don’t ever seem to get around to it. This is not for successful business owners. You need to set clear targets for yourself and for every part of your business. In fact, perhaps your most important responsibility to your people is to give them a clear sense of direction in their work. 5. Decisive And Action Oriented The final trait that all successful entrepreneurs must possess is being decisive and action-oriented. They must think and make decisions quickly. They discipline themselves to take action and to carry out the decisions they have made. They move fast and they get quick feedback from their actions. If they find they have made a mistake, they quickly self-correct and try something else.