If you want to find the most occuring TEXT entry try this array formula**:
=INDEX(A1:A10,MODE(MATCH(A1:A10,A1:A10,0)))
** array formulas need to be entered using the key combination of CTRL,SHIFT,ENTER (not just ENTER). Hold down both the CTRL key and the SHIFT key then hit ENTER.
Assumes no empty cells. Also note, it works just like the MODE function does for numbers. If there is more than one instance of a mode the formula will return the first instance. If there is no mode you'll get an error.