20. This technique of identifying direct competitors needs for you to take a look at the market for your product
A Market Research
B. Solicit Customer Feedback
C. Check Online Communities on Social Media or Community Forums
D. None of the above
21. What managerial tool is used to assess the environment?
A Product Development
C. Unique Selling proposition
B. SWOT Analysis
D. Concept Development
22. SWOT stands for
A Strengths, Weaknesses, Occasions, and Threats
C. Strengths, Weaknesses, Opportunities, and Threats
B. Strengths, Worth, Opportunities, and Threats
D. Strong, Weaknesses, Opportunities, and Threats
23. What is the purpose of performing a SWOT analysis?
A Identifies intemal and external factors that may affect business future performance
B. Evaluates whether the business venture is a good idea
C. Assesses business' performance
D. Helps the entrepreneur develop a broader view on the potential opportunity
24. Merlin plans to put a bakeshop in their locality. Which of the following will help her determine a successful plan in
setting up her business?
A Survey of consumer associations
C. Getting feedback on the quality of service
B. Checking for similar business to avoid competition D. Conducting a SWOT analysis
25. Mr. Dela Cruz has been a chef for 3 years and dreams to open his own restaurant. However, he has no
entrepreneurial skills and does not know how to start the business. He would like to open an online business for food
deliveries. He is a hard worker and has capital. Identify the threats that he might face in the process of starting his
business?
A He has no entrepreneurial skills and this may imituence his business negatively.
B. He is a hard worker and he has the passion to cause him to see the potential threats to his dream.
C. He has sufficient capital to make his business appealing to potential customers.
D. All of the above.
26. In coming up with a business name, what should be the prime consideration?
A It should be unique and related to the chosen field or area
B. It should be specific and detailed
C. It should have the exact location or address
D. None of the above
Choose from the following options (27-30)
A Strength
B. Weakness
C. Opportunity
D. Threat
27. Impressive technical skills is alan
28. Lack of social media expertise is alan
29. A new product developed is alan
30. Negative feedback on social networks is alan​