Tle smt quarterly exam (TLE10) (PHINMA)

• What must an entrepreneur evaluate when selecting a business idea?

  The entrepreneur must evaluate factors such as markets, capital, skills, suppliers, individual interests, technology, and manpower.
• Why is it important to analyze markets when selecting a business idea?

  Analyzing markets helps identify the number of prospective buyers, competitors, and the quality of goods and services.
• If consumer needs are not fully satisfied, what does this indicate for business opportunities?

  This indicates that business opportunities exist in areas where consumer satisfaction is weak.
• What role does capital play in establishing a business?


  Capital is important as it provides the necessary funds to put up a business.
• What should the availability of funds match when starting a business?

  The availability of funds should fit the type of business to be established.
• What skills should an entrepreneur possess when starting a business?

  The entrepreneur should have the necessary skills relevant to the business they will undertake.
• Why is it important to have sufficient suppliers for a business?

  Sufficient suppliers are necessary for providing raw materials and other inputs for the business.
• How do individual interests affect business opportunities?

  Individual interests vary, and they should match the business opportunities available.
• What is the significance of technology in business?

  Entrepreneurs should be aware of technology, especially new technology that can improve products or services.
• What is the role of manpower in setting up a business?

  Manpower is crucial as it ensures that experts or trained personnel are available to make the business feasible.
• How does employee efficiency impact a business's success?

  The success of a business enterprise depends on the efficiency of its employees.
• What are some examples of business ideas/opportunities by category?

  1. Accessories
  2. Agriculture and fisheries
  3. Cleaning materials
  4. Clothing and textile
  5. Education
  6. Food and food service
  7. Handicrafts
  8. Health and health services
  9. Home furnishings

  10. Housing

  11. Transportation and communication
• What types of products fall under the accessories category?

  Men's and women's accessories, baby accessories, home accessories, and office accessories.
• What products are included in the agriculture and fisheries category?

  Meat and poultry products, fruits and vegetables, fish and seafood, cut flowers, plants, nurseries, animal feeds, poultry, and hog raising.
• What types of products are classified under cleaning materials?

  Soaps and detergents, floor waxes, polishing compounds, personal hygiene needs, and cleaning accessories.
• What does the clothing and textile category include?

  Textile and clothing products, personal clothing and accessories, fashion accessories, household clothing items, and clothing production services.
• What products are found in the education category?

  School supplies, equipment, publishing, learning activities, tutoring, special schools, daycare centers, and learning equipment production.
• What types of food services are included in the food and food service category?

  Food products, fast food, bakeries, restaurants, mobile kiosks, takeouts, and food delivery.
• What does the handicrafts category encompass?

  All handicrafts and products made of wood, paper, leather, metal, stone, and other materials, including embroidery and weaving.
• What products are included in the health and health services category?

  Personal care items, health products and supplements, caregiving services, spas, therapy, special clinics, medicines, and drugs.
• What does the home furnishings category include?

  All products for kitchens, bedrooms, living rooms, and other accessories.
• What types of services are found in the housing category?

  Building and specialized skills in house construction and refurbishing.
• What does the transportation and communication category include?

  Transportation and communication supplies and services, transport vehicles, auto services, and repair shops.
• What is the process of product development?

  • Conceptualizing
  • Designing
  • Creating
  • Producing
  • Introducing
  • Delivering new products and services
  • Improving old products
• Why is finding a good idea important for an entrepreneur?

  A good idea is a tool that helps manifest an entrepreneur's creativity and provides value for products and services.
• How does creativity relate to innovation in entrepreneurship?


  Creativity leads to innovation, which allows entrepreneurs to differentiate their business from others.
• How does innovative thinking benefit an entrepreneur?

  Innovative thinking helps entrepreneurs continuously search for ways to improve their products or services.
• What is the definition of product development?

  Product development is the process of conceptualizing, designing, creating, producing, introducing, and delivering new products and services or improving old ones.
• What is the first step in product development?


  The first step is finding a good idea for a product or service.
• How do successful entrepreneurs provide value for their products and services?

  Successful entrepreneurs provide good value through creativity and innovation.
• What is the relationship between product improvements and product development?

  Product improvements are part of the product development process, focusing on enhancing existing products.
• What are the criteria in selecting a business idea?

  Markets, capital, skills, suppliers, individual interests, technology, and manpower
• Why is it important to analyze markets when selecting a business idea?

  To identify prospective buyers, competitors, and areas of consumer dissatisfaction
• What role does capital play in establishing a business?

  Capital is necessary for funding the business and should match the type of business being established
• What skills should an entrepreneur possess?

  The necessary skills relevant to the business they will undertake
• Why is it important to have sufficient suppliers for a business?

  To ensure a steady supply of raw materials and inputs necessary for operations
• How do individual interests affect business opportunities?

  Interests should match business opportunities to ensure motivation and success
• What is the significance of technology in business?


  Technology can improve products or services and introduce new ones to the market
• Why is manpower important when setting up a business?

  Experts or trained personnel are needed to ensure the business is feasible and successful
• What are some examples of business ideas/opportunities by category?

  • Accessories: men's, women's, baby, home, and office accessories
  • Agriculture and fisheries: meat, poultry, fruits, vegetables, seafood, and animal feeds
  • Cleaning materials: soaps, detergents, and personal hygiene products
  • Clothing and textile: clothing products, fashion accessories, and dressmaking
  • Education: school supplies, tutoring, and daycare centers
  • Food and food service: restaurants, bakeries, and food delivery
  • Handicrafts: products made of wood, paper, leather, and other materials
  • Health services: personal care items, caregiving, and special clinics
  • Home furnishings: kitchen and living room products
  • Housing: construction and refurbishment services
  • Transportation: transport vehicles and repair services