Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

ENTR 2030 > Chapters 1 & 2 > Flashcards

Chapters 1 & 2 Flashcards

1
Q

startup

A

temporary org in search of a scalable business model
-if the biz is successful it does not remain a startup

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

5 features of modern entrepreneurship

A

-entrepreneurship is a method that requires practice
-entrepreneurs think differently
-entrepreneurs act more than plan
-entrepreneurs aren’t driven purely by profit
-entrepreneurs collaborate more than compete

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

process view of entrepreneurship

A

entrepreneurship is linear, predictable process

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

method view of entrepreneurship

A

entrepreneurship is nonlinear and unpredictable process (reality)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

how is the method view understood

A

constructing a toolkit with skillsets and mindsets for entrepreneurial action. learn by acting and doing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

main characteristics of entrepreneurship personality seen in early research

A

need for achievement, innate sense of ability to influence others, risk taking, tolerance for ambiguity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

how does modern research look at whether entrepreneurs are born or made

A

looking at how entrepreneurs think

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

serial entrepreneurs

A

entrepreneurs who start several bizs, at the same time or separate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

effectuation theory

A

entrepreneurs start small with what they have, rather than with what they think they need

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

effects of effectuation theory

A

create new opportunities, make markets rather than find, accept and learn from failure

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

evidence based entrepreneurship

A

aligns with scientific method of collecting data, testing ideas to see if it’s an opportunity worth pursuing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

ways to access entrepreneurship

A

-corporate entrepreneurship
-entrepreneurship inside
-franchising
-buying a small business
-social entrepreneurship

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

managerial vs entrepreneurial thinking

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

the entrepreneurship method defined

A

-come up with your why
-start with your means at hand
-describe the idea today
-identify first/next actions
-enroll stakeholders
-calculate affordable loss
-act, learn, build

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

corporate entrepreneurship

A

the process of creating new products, venture, processes or renewal within large corporations (by “innovation arm”)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

entrepreneurship inside

A

-intrapreneurs who try to change their org from within
can exist and function in any type of org (big or small), nonprofits, religious groups, cooperations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

intrapreneur

A

employees who think and act entrepreneurially within different types of organizations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

social entrepreneurship

A

the process of sourcing innovative solutions to social and environmental problems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

family enterprise

A

a business owned and managed by one or more family members beyond the founding generation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

mindset

A

a set of attitudes and beliefs that shape how you approach a situation, instrumental to the choices people make daily

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

2 key differences in fixed v growth mindset

A

1) whether your attributes can change or not
2) attitudes towards failure (threat v opportunity)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

can your mindset change between fixed and growth?

A

yes! change it by paying attention to the voice in your head when tackling new things

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

entrepreneurial mindset

A

a mental process that enables one to recognize and act on valuable opportunities with incomplete information, while being resilient under complex and uncertain conditions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

themes of entrepreneurial mindset

A

1) mental process
2) value creation
3) recognizing and acting on opportunities
4) adaptability and resilience
5) decision making with limited information under uncertain conditions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

entrepreneurial mental process

A

-metacognitive process
-entrepreneurial self efficacy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

metacognition

A

our ability to understand and be aware of how we think and the processes we use to make decesions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

how does metacognition help entrepreneurs

A

helps evaluate all their strategies, paths, options to make an informed decision about something new, entrs need to self teach

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

entrepreneurial self efficacy

A

the belief entrepreneurs have in their ability to start new ventures

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

entrepreneurial value creation

A

entrepreneurs seek to create value, they do this through action (put resources together in a way to create something that generates value)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

how can we define/understand types of value

A

personal/social, personal/economic, societal/social, societal/economic

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

entrepreneurial recognizing and acting on opportunities

A

generating value through the introduction of unique products, services
-mindset affects opportunity recognition

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

entrepreneurial adaptability

A

the ability to adjust effectively to changes or challenges

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

entrepreneurial resilience

A

the capacity to withstand and positively recover from challenges

34
Q

entrepreneurial decision making with limited information under uncertain conditions

A

uncertainty is always present
-taking small, quick actions to manage uncertainty

35
Q

habits of an entrepreneurial mindset

A

creativity, improvisation, self-leadership, reflection, fear management

36
Q

creativity

A

the ability to use knowledge in new ways
-related to opportunity identification

37
Q

improvisation

A

creating something without preparation
-related to adaptability
-relevant when uncertainty is high

38
Q

common fears in entrepreneurship

A

fear of failure, fears due to lack of information

39
Q

how to deal with fears due to lack of information

A

-take action, gain information, collect info/data/insights
-write down fears about entrepreneurship

40
Q

how to get over the fear of failure

A

-realize failure is part of entrepreneurship
-failure is a part of the learning process

41
Q

self leadership

A

people influence and control their own behaviour

42
Q

3 strategies for self leadership

A

-natural reward strategies
-constructive thought patterns
-behaviour focused strategies

43
Q

self cueing

A

the process of prompting that acts as a reminder of desired goals and keeps your attention on what you are trying to achieve

44
Q

reflection

A

reviewing and evaluating experiences

45
Q

steps in reflection

A

describe situation, emotional state, sense making, critical review, changes to make, test your reflection

46
Q

the entrepreneurship process steps

A
  1. identify opportunity
  2. write a business plan
  3. get resources and financing
  4. execute the plan and develop a strategy
  5. manage and grow business
  6. sell business, retire wealthy
47
Q

managerial or entrepreneurial thinking: big planning

A

managerial

48
Q

managerial or entrepreneurial thinking: small actions

A

entrepreneurial

49
Q

managerial or entrepreneurial thinking: wait till you have what you need

A

managerial

50
Q

managerial or entrepreneurial thinking: start with what you have

A

entrepreneurial

51
Q

managerial or entrepreneurial thinking: linear

A

managerial

52
Q

managerial or entrepreneurial thinking: iterative

A

entrepreneurial

53
Q

managerial or entrepreneurial thinking: optimization

A

managerial

54
Q

managerial or entrepreneurial thinking: experimentation

A

entrepreneurial

55
Q

managerial or entrepreneurial thinking: embrace and leverage failure

A

entrepreneurial

56
Q

managerial or entrepreneurial thinking: uncertain

A

entrepreneurial

57
Q

managerial or entrepreneurial thinking: plan to act

A

managerial

58
Q

managerial or entrepreneurial thinking: act to learn

A

entrepreneurial

59
Q

entrepreneurship as a method or process: an approach/ way of doing things

A

method

60
Q

entrepreneurship as a method or process: known inputs, predicted outputs

A

process

61
Q

entrepreneurship as a method or process: skills to acquire

A

method

62
Q

entrepreneurship as a method or process: steps to complete

A

process

63
Q

entrepreneurship as a method or process: pre established course

A

process

64
Q

entrepreneurship as a method or process: action focus

A

method

65
Q

entrepreneurship as a method or process: planning focus

A

process

66
Q

entrepreneurship as a method or process: requires goal completion

A

process

67
Q

entrepreneurship as a method or process: process dictates actions

A

process

68
Q

entrepreneurship as a method or process: entrepreneur is control

A

method

69
Q

why statement

A

simple statement that connects to curiosity, drive, motivation
“what energizes me, what am I excited about
-direction not idea

70
Q

calculating affordable loss

A

what are you truly willing to give up in terms of money, reputation, time, opportunity cost?

71
Q

who came up with growth v fixed mindset

A

Carol Dweck

72
Q

fixed or growth mindset: tell me I try hard

A

growth

73
Q

fixed or growth mindset: tell me I’m smart

A

fixed

74
Q

fixed or growth mindset: if you succeed I’m inspired

A

growth

75
Q

fixed or growth mindset: if you succeed I feel threatened

A

fixed

76
Q

fixed or growth mindset: my effort and attitude determine everything

A

growth

77
Q

fixed or growth mindset: my abilities determine everything

A

fixed

78
Q

nascent entrepreneur

A

someone who is engaging in startup efforts but hasnt officially started a business

79
Q

behaviour focused self leadership strategies

A

help increase self awareness to manage behaviours, especially when dealing with necessary but unpleasant tasks (self observation, self goal setting, self reward, self punishment, self cueing)

80
Q

self observation

A

raises awareness of how, when and why you behave the way you do in certain circumstances

81
Q

natural reward strategies

A

make aspects of a task more enjoyable by building in certain features/reshaping perspectives
ie build in break into boring work, do work on the beach

82
Q

constructive thought patterns

A

help to form positive and productive ways of thinking

ENTR 2030 (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions