Entrepreneurship Essentials

Froggy Jumps

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Fundamentals of starting up

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Victor Mangalindan

Philippines

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Entrepreneurship Essentials


Froggy Jumps Entrepreneurship EssentialsOnline version Fundamentals of starting up by Victor Mangalindan 1 What is entrepreneurship? a Starting a venture to create value from opportunities b A skill used only in manufacturing sectors c A fixed salary job at a large company 2 Which trait is most associated with successful entrepreneurs? a Risk tolerance and resilience b Preference for short-term profits only c Comfort with failure to take no action 3 An MVP stands for what in entrepreneurship? a Most Valuable Purchase b Maximum Viable Product c Minimum Viable Product 4 Bootstrap financing means: a Raising venture capital before testing idea b Funding a startup with personal resources c Getting a bank loan only 5 Which best describes a business model? a Plan for delivering value and earning profit b A legal registration document c A one-time product sale 6 What is a pivot? a A strategic change to test a new direction b A routine quarterly report c A minor price adjustment 7 Which is a key entrepreneurial mindset? a Opportunity recognition b Avoiding customer feedback c Relying solely on external funding 8 Why is customer validation important? a To confirm the problem and solution fit b To finalize the logo design c To measure employee performance 9 What does scalability refer to in startups? a Ability to grow without proportional cost increase b Hiring more staff regardless of demand c Increased marketing budget only 10 Social entrepreneurship focuses on what? a Eliminating all competition b Using business tools to solve social problems c Maximizing shareholder profits at all costs 11 What best defines entrepreneurship? a Starting and running a new venture to create value b Installing automated processes for cost-cutting c Managing existing operations 12 Which trait is most commonly associated with entrepreneurs? a Low energy and risk aversion b Strong risk tolerance c Reliance on perfect certainty 13 An opportunity in entrepreneurship is best described as? a A guaranteed source of funding b A plan with no competitors c A need in the market that can be served profitably 14 A value proposition explains what? a Why customers should buy your product and the benefit they receive b Where to locate your business c How to patent your idea 15 Which stage is typically part of the entrepreneurial process? a Closing a loan without a plan b Identifying a problem and validating a solution c Mimicking a competitor’s brand 16 Which funding approach is common for bootstrapped startups? a Taking government grants only b Raising a big VC round first c Using personal savings and reinvesting profits 17 What is scalability in entrepreneurship? a Ability to grow the business without a linear rise in costs b Reducing product features to cut costs c Spending more on advertising every year 18 Which is a valid type of business model innovation? a Creating a new way to deliver value, like a subscription for a product b Doubling prices without adding value c Copying a rival’s exact plan 19 Why is a business model canvas useful? a It guarantees investor funding b It summarizes key aspects: value, customers, finances, and operations c It maps out technical code architecture 20 Which risk is commonly faced in entrepreneurship? a Guaranteed profits every quarter b Market risk due to uncertain demand c No competition risk

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Entrepreneurship Essentials

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Entrepreneurship EssentialsOnline version

by Victor Mangalindan

What is entrepreneurship?

Which trait is most associated with successful entrepreneurs?

An MVP stands for what in entrepreneurship?

Bootstrap financing means:

Which best describes a business model?

What is a pivot?

Which is a key entrepreneurial mindset?

Why is customer validation important?

What does scalability refer to in startups?

Social entrepreneurship focuses on what?

What best defines entrepreneurship?

Which trait is most commonly associated with entrepreneurs?

An opportunity in entrepreneurship is best described as?

A value proposition explains what?

Which stage is typically part of the entrepreneurial process?

Which funding approach is common for bootstrapped startups?

What is scalability in entrepreneurship?

Which is a valid type of business model innovation?

Why is a business model canvas useful?

Which risk is commonly faced in entrepreneurship?