Ge Elec Test 2

The Entrepreneurial Mind
Name : __________________________________________ Course/Yr/Sec:____________

Instructor:________________________________________ Score:____________________
TEST I
Identification: Write your answer on the space provided. Use black or blue ballpen in answering! Erasures are not allowed!
_____________________1. It is the stage of starting up a business whereas acquiring machines and equipment for your
manufacturing or service business happens.
_____________________2. It is the most difficult, yet a challenging stage in entrepreneurial ventures.
_____________________3. The primary function of this government agency is to provide social security for private sector,
employees and self-employed individuals.
_____________________4. It is a government agency that helps protect workers and promote their welfare.
_____________________5. On this stage, the selecting and choosing the employees happens.
_____________________6. It is classified broadly according to purpose, into general and specialized purpose.
_____________________7. The function of this agency is to regulate the trade names and business registration.
_____________________8. An agency whereas the primary function is to collect the taxes and printing permit.
_____________________9. It is a stage where you register your business and determine your personnel requirements.
_____________________10. It refers to the registered business identity of the business organization.
_____________________11. It considers crucial factors in the success of a business enterprise.
_____________________12. The primary function of this agency is the registration of invention, trademarks, trade names, patents.
TEST II
Multiple choice : Choose the correct answer. Write your answer in the space provided in CAPITAL FORM. Erasures are not
allowed!
Column A Column B
_______13. Will there be a lot of waste by products during a. Labor
processing?
_______14. Are there rules, regulations, and restrictions that will b. Transportation facilities
affect businesses like yours?
_______15. How close are you to your target customers? c. Raw materials
_______16. Will you buy the site or rent it? d. Customers

_______17. Are light and water available?
_______18.If your raw materials and/or products are heavy or e. Worker
bulky; examine the availability and reliability of transportation
facilities in the site. f. Power and utilities
_______19. Can you employ people living in the vicinity?
_______20. How close are you from the sources of raw g. The decision to own or to rent
materials? Are the raw materials bulky and difficult to transport?
h. Community
i. Waste disposal facilities
TEST III
Write TRUE if the statement is correct and write FALSE if the statement is incorrect.
________21. It should be the one to enable you to manufacture your products and sell them at the highest possible cost.
________22 One of the first considerations regarding location is whether the prospective site is a residential, commercial, or non-
industrial area.
________23. Like capital, location, staff, and machinery and equipment. Unless you have done all these, you are ready to get started
yet.
________24. Before you start acquiring machines and equipment for your service or manufacturing business, you should first
determine the manufacturing methods to use.
________25. Wrong decision may result in paying more than what you should to buy the equipment
________26. Once you have hired a person for employment, you may still need to train him.
________27. In a large enterprise, the preferred method of developing technical skills among employees is through the on-the-job
training.
________28. . The experience is directly related to the employee's job, and only specific job-related knowledge and skills are
transferred.
________29. Before starting to hire manpower, it is important to know your employee requirements first.
________30. These new skills, knowledge, and other information are imparted to the new employee through the process of training
and development.
________31. Generally speaking, if your volume of production is low and your product designs are expected to change from season to
season, get a multi-purpose machine.
________32. After buying equipment, identify exactly what you need it for.
________33. A right decision may result in having equipment that you do not really need.
________34. Consult other manufacturers who have experience in using the other equipment.
________35. Consider also the option of having machines fabricated by local machine shops.
________36. There is no shortcut to gearing up or operationalizing the business.
________37. The entrepreneur has to comply with the legal requirements as not doing so means an illegitimate business operation.
________38. The only clear policy insinuated by government organizations concerned with business name registration is that the
proposed business name should be similar with an already existing or registered business name
________39. It is best used in g situation of low volume and high variability of the product design, o where conditions warrant
flexibility.
________40. Ask employees, customers, and suppliers for people they know who might qualify.
TEST IV
41- 50 Enumerate the stages in starting a business (2 pts each)

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The Entrepreneurial Mind

Name : ______________________________ Course/Yr/Sec:

_____________________2. It is the most difficult, yet a challenging stage in entrepreneurial ventures.

_____________________10. It refers to the registered business identity of the business organization.

_____________________11. It considers crucial factors in the success of a business enterprise.

_______16. Will you buy the site or rent it? d. Customers

i. Waste disposal facilities

________36. There is no shortcut to gearing up or operationalizing the business.

41- 50 Enumerate the stages in starting a business (2 pts each)

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