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S1212 1st Quarter > ENT104 Lesson 1 > Flashcards

ENT104 Lesson 1 Flashcards

1
Q

5 items

Characteristics of a Businessman:

A
  • Starts a business from an existing idea
  • Traditional
  • Avoids taking risks
  • Profit oriented
  • Market player
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2
Q

5 items

Characteristics of an Entrepreneur:

A
  • Starts a business from a unique and innovative idea
  • Revolutionary
  • Risk taker
  • People (customer) oriented
  • Market leader
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3
Q

Entrepreneur originates from the French word ____________ which means __ _________

A

entreprendre
to undertake

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4
Q

It is a person who strongly advocates and correctly practices the concepts and principles of entrepreneurship in operating and managing a self-owned business venture.

A

Entrepreneur

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5
Q

It comes from the word entrepreneur; it refers to a particular field of practice or process.

A

Entrepreneurship

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6
Q

It is the art of observing correct practices in managing and operating a self-owned wealth-creating business enterprise by providing goods and services that are valuable to the customers.

A

Entrepreneurship

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7
Q

It is a business venture.

A

Enterprise

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8
Q

____ __ _____ operationally defines an ____________ as a person who strongly advocates and correctly practices the concepts and principles of entrepreneurship in operating and managing a self-owned business venture.

A

Nick L. Adana
entrepreneur

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9
Q

the entrepreneur himself/herself and other people who have direct dealings with the entrepreneur in the community.

A

Filipino people

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10
Q

where the concept of entrepreneurship is practiced.

A

Local community

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11
Q

the wealth and resources of any country

A

Economy

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12
Q

4 items

Entrepreneurship makes the following contributions to the lives of the Filipinos:

A
  1. It provides guidelines in their wealth-creating ventures.
  2. It helps improve their financial and social life.
  3. It helps broaden their creativity.
  4. It helps make their life happy, fruitful, and successful.
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13
Q

6 items

Entrepreneurship makes the following contributions to the local community:

A
  1. It provides employment in the community.
  2. It creates new demand in the market.
  3. It makes a substantial contribution to the raising and collection of taxes.
  4. It create new business opportunities.
  5. It promotes a peaceful and loving community.
  6. It increases constructive competition.
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14
Q

5 items

Entrepreneurship makes the following contributions to the Philippine economy:

A
  1. It encourages competitiveness and thereby challenges entrepreneurs to keep improving their products and services.
  2. It helps find an entrepreneurial niche in the world market.
  3. It helps hasten the economic recovery process of the Philippines during financial turmoil or crackdown.
  4. It facilitates the smooth flow of money in the local market.
  5. It assists the national government in its desire to have favorable economic ratings in the world market.
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15
Q

Why do we have to study Entrepreneurship in SHS?

A
  1. Acquiring sufficient knowledge of entrepreneurial principles equip SHS students with the necessary tools in handling and maximizing entrepreneurial opportunities.
  2. The DeEd’s intention is to create an “ecosystem that encourages entrepreneurship” which-in turn-helps in building a progressive economy and culture.
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16
Q

5 items

Sources of Entrepreneurial Ideas

A
  1. Changes in the Environment
  2. Technological Discovery and Advancement
  3. Government’s Thrusts, Programs, and Policies
  4. People’s Interests
  5. Past Experiences
17
Q

Entrepreneurial ideas arise from the changes that happen in the external environment with entrepreneurial implications.

A

Changes in the Environment

18
Q

A person with an entrepreneurial drive views these changes positively. He/she determines what business opportunities they may provide.

A

Changes in the Environment

19
Q

A person with entrepreneurial interest looks at the possibility of business opportunities in any new discovery or advancement in technology.

A

Technological Discovery and Advancement

20
Q

For example, a person with sufficient knowledge in the repair and installation of a mechanical engine discovers that the additional engine parts he installed during the repair have considerably reduced fuel consumption. If he had any entrepreneurial drive, he would see his discovery as a business opportunity to manufacture the new engine parts that could reduce fuel consumption.

A

Technological Discovery and Advancement

21
Q

The priorities, projects, programs, and policies of the government are also good sources of entrepreneurial ideas.

A

Government’s Thrusts, Programs, and Policies

22
Q

For example, the use of firecrackers to celebrate New Year’s Eve is strictly prohibited. People without entrepreneurial drive will view the ordinance as a plain restriction. An entrepreneur, however, will take it as a business opportunity to come up with a new product that will serve as a substitute for firecrackers.

A

Government’s Thrusts, Programs, and Policies

23
Q

The interests, hobbies, and preferences of people are a rich source of entrepreneurial ideas.

A

People’s Interests

24
Q

However, an entrepreneur must be keen on identifying the cycle of interests and trends of his/her target market since these tend to continuously change. He/she must be ready to address the change properly and immediately to avoid possible negative effects on the operations of the business venture.

A

People’s Interests

25
Q

The expertise and skills developed by a person who has worked in a particular field may lead to the opening of a related business enterprise.

A

Past Experiences

26
Q

For example, an auditor who has learned the appropriate auditing and management advisory skills and techniques in a prominent auditing firm can start his/her entrepreneurial venture by opening his/her own auditing office.

A

Past Experiences

27
Q

an opportunity of employment

A

Job opportunity

28
Q

It is the job or profession that someone does for a long period of their life

A

Career

29
Q

An expert in providing advice, information, insight and recommendations for the purpose of assisting clients with their objectives and solving problems

A

Business Consultant

30
Q

Develop and implement a strategic business plan to increase the company’s customer base in order to ensure its strong presence.

A

Sales Manager

31
Q

Manages recruitment, objectives setting, training and performance monitoring for sales representatives.

A

Sales Manager

32
Q

Raises money for a specific purpose and meant not to make profit but instead for maintaining the organization or toward the purpose for which it was created.

A

Fundraiser

33
Q

They also may design promotional materials and increase awareness of an organization’s work, goals, and financial needs.

A

Fundraiser

34
Q

These educators train their students to solve business problems, plan for future growth, and strategize how to run a business efficiently and effectively.

A

Teacher

35
Q

Writes articles in a prime position to take the lead on covering a local business beat

A

Business Reporter

36
Q

They write breaking news and business stories in unique and interesting ways to increase readership.

A

Business Reporter

37
Q

Launches a company, start a new venture in a family enterprise or commercializing a technology.

A

New Venture Creator

38
Q

They are entrepreneurial people whose primary role is in creating new business via creating new start-ups or scaling growing companies, having significant and direct stake in the actual business success.

A

New Venture Creator

S1212 1st Quarter (18 decks)

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