Lesson Assessment 4 I. Write True if the statement is correct. Otherwise, write False and state your reason briefly. ________1. The owner of an ordinary small business anticipates possible changes in the external environment. _________________________________________________________________ ________2. Competition increases the creativity and innovative characteristics of the owner of an ordinary small business. _________________________________________________________________ ________3. The perspective for development and growth is usually manifested in the short-and-long term plans of entrepreneurs. _________________________________________________________________ ________4. A person who is an entrepreneur is also a businessperson. _________________________________________________________________ ________5. In most instances, owners of ordinary small businesses are hesitant to look for external sources of funds. _________________________________________________________________ ________6. An entrepreneur and an owner of an ordinary small business are totally different from each other. _________________________________________________________________ ________7. The primary motive of an owner of an ordinary small business in opening the business is the business opportunity provided by the environment. _________________________________________________________________ ________8. An entrepreneur finds alternative ways to avoid business risks. _________________________________________________________________ ________9. The owner of an ordinary small business considers business risks inherent in the business venture. _________________________________________________________________ ________10. Changes in the external environment present business opportunities based on the perception of an entrepreneur. _________________________________________________________________ II. Discussion Differentiate an entrepreneur from an owner of an ordinary small business in the following areas: 1. Motive in opening a business 2. Perception of risk in the business 3. Vision for development and growth III. Class Entrepreneurial Activities Form groups of six members each with members preferably coming from the same community. Do the following tasks: 1. Choose one small business in your neighborhood. Conduct a guided interview of its owner. Elicit the primary reason why he or she opened the business. Determine if he or she manages the business as an entrepreneur or as an owner of an ordinary small business. 2. Discuss among yourselves how you react to changes in the environment. For example, there is a change in your class schedule or a change in the price of your favorite food. Report on your common reaction to changes in the environment. 3. Share to the class any personal experiences in selling that you may have.
