Here are the answers:1. False2. True 3. True4. False5. False
1. Learning Competencies:
A. Meaning of entrepreneur
B. Identify the values/characteristic of an ideal
entrepreneur.
C. Identify the different types of entrepreneur
6. Buyer – a person who decides to
obtain products in exchange of his
money or assets
7. Seller – a person who decides to
obtain money or asset for exchange
of his products; meets and fulfills
what is in demand by the market.
8. Market – an actual or nominal place where
forces of demand and supply operate, and
where buyers and sellers interact to trade
goods and services for money.
9. * Someone who is willing to put up
the capital needed to set up a
business fully aware of the risks
involved.
*Entrepreneur work for themselves.
Risk – the chance of losing
something.
10. • Potential business failure . Being fully
responsible means the success or failure of
your business rest on you.
• * Unexpected obstacles . Problem can happen
you don’t expect.
• * Financial insecurity. Many businesses don’t
make much money in the beginning, so you
may not able to pay yourself.
• * Long hours and hardwork. Working a lot of
extra hours to make the business successful.
11. * Industrious – displays hardwork and
perseverance in the face of challenges;
utilize skills to diligently carry out tasks
or make goods.
* Innovative – has the ability to envision
future needs or demands and create new
opportunities, products and services to
meet these demands.
*Honest – do not engage in deceptive or
fraudulent acts: displays sincerity at all
times.
12. * Persistent – does not easily give up or
let go.
*Caring – understand the feelings ,
concerns and needs not only of his
or her costumers but also his or her
workers.
*Helpful – is always available to
provide assistance.
* Faith in goodness and
righteousness – conducts business
fairly and cultivates culture of
righteousness.
13. * Organized yet flexible – is able to
adapt to any change yet remain
logical and organized.
* Confident – feels or shows
certainty, as of success.
* Strategist – is a careful planner;
sets long - term goals, plans and
execute a well – thought strategy in
order to achieve them.
14. * Proactive – acts immediately on new
ideas, insights, and opportunities; always in
step with changes in one’s environment and
applying them to one’s business; doesn’t
engage in any unproductive work habits.
* Prudent – is never wasteful and always
ensures that all resources are used wisely
and every bit of raw material doesn’t go to
waste.
* Determined – is a go-getter and an
achiever; acting on a dream, vision and plan
no matter how hard it may seem at first.
15. * Knowledgeable – is well – trained and
possesses information and
understanding of concepts necessary to
run a business venture.
* High quality philosophy – strives for
excellence and perfection to exceed
costumer satisfaction.
* Risk – taker – takes calculated risks
and knows how to match opportunities
to market realities ; takes on risks
anticipating business profitability and
chances of success.
16. * Social out of profit; offers products and
services with the overall intention of
creating social good. TheEntrepreneur –
is involved in business so that she or he
can do missions profit is often reinvested
into the business venture rather by being
distributed to the shareholders.
* Serial Entrepreneur – has started one
enterprise and ventured into more.
17. * Lifestyle Entrepreneur – make
enterprise out of hobby, interest or
lifestyle .
* Solopreneur – sets up and runs his or
her own enterprise alone.
18. Evaluation : Write True or False.
1. A good entrepreneur is engage in
fraudulent acts.
2. Being knowledgeable is one of the
characteristic of a good entrepreneur.
3. If you are good in baking or cooking
you can be a lifestyle entrepreneur.
4. A social entrepreneur is a non profit
business.
5. A good entrepreneur should only care
about his costumers not with his
workers.