Brainscape's Knowledge GenomeTM

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


See full index

PRELIMS SEM2 > ENTREP > Flashcards

ENTREP Flashcards

1
Q

The word “entrepreneur” was derived from the French verb _____ which means “to undertake”

A

ENTERPRENDRE

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

This is pinpointing to those who “undertake”
the risk of enterprise.

A

ENTREPRENEUR / ENTERPRENDRE

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

The ______ is
created by an entrepreneur

A

ENTERPRISE

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

The process of creating enterprise is called ____.

A

ENTREPRENEURSHIP

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

They are willing to take the risks and generate unique ideas that can
provide profitable solutions to the
needs of the market and the society.

A

ENTREPRENEURS

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

What are the four relevance of entrepreneurship to an organization?

A
  1. DEVELOPMENT OF MANAGERIAL CAPABILITIES
  2. CREATION OF ORGANIZATIONS
  3. IMPROVING STANDARD OF LIVING
  4. MEANS OF ECONOMIC DEVELOPMENT
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

This means that one of the benefits an entrepreneur gets is to
develop his managerial skills.

A

DEVELOPMENT OF MANAGERIAL CAPABILITIES

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

Which means that because of
entrepreneurship many organizations will exist.

A

CREATION OF ORGANIZATIONS

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

This means that
entrepreneurship can lift up the economic status of an individual.

A

IMPROVING STANDARD OF LIVING

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

This means that not
only the life of the entrepreneur is
improved but also the society where
the business is located.

A

MEANS OF ECONOMIC DEVELOPMENT

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

What are the two factors affecting entrepreneurship?

A
  1. PERSONALITY FACTORS
  2. ENVIRONMENTAL FACTORS
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What are the seven personality factors?

A
  1. INITIATIVE
  2. PROACTIVE
  3. PROBLEM SOLVER
  4. PERSEVERANCE
  5. PERSUASION
  6. A PLANNER
  7. RISK-TAKER
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Doing things even before being told.

A

INITIATIVE

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

Which means he can
classify opportunities and seize it.

A

PROACTIVE

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

Which means he
can retain good relations with other
people.

A

PROBLEM SOLVER

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

Meaning he will
pursue things to get done regardless of
challenges.

A

PERSEVERANCE

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

Means that he can
entice people to buy even if they don’t
want to.

A

PERSUASION

18
Q

He makes plans before
doing things and does not fail to monitor it.

A

A PLANNER

19
Q

Which means that he is
willing to gamble but he will calculate it
first.

A

RISK-TAKER

20
Q

Which include political, climate, legal system,
economic and social conditions and
market situations.

A

ENVIRONMENTAL FACTORS

21
Q

What are the seven common competencies in entrepreneurship?

A
  1. DECISIVE
  2. COMMUNICATOR
  3. LEADER
  4. OPPORTUNITY SEAKER
  5. PROACTIVE
  6. RISK-TAKER
  7. INNOVATIVE
22
Q

An entrepreneur must be firm in making decisions.

A

DECISIVE

23
Q

An entrepreneur must
have a convincing power.

A

COMMUNICATOR

24
Q

An entrepreneur must have the charisma to be obeyed by his employees.

A

LEADER

25
Q

An entrepreneur
must have the ability to be the first to see
business chances.

A

OPPORTUNITY SEAKER

26
Q

An entrepreneur has the courage to pursue business ideas.

A

RISK-TAKER

26
Q

An entrepreneur can control a situation by making things happen or by preparing for possible future problems.

A

PROACTIVE

27
Q

The entrepreneur has big business ideas and he does not stop
improving and thinking of new worthwhile
ideas for his business.

A

INNOVATIVE

28
Q

What are the four core competencies of entrepreneur?

A
  1. ECONOMIC AND DYNAMIC ACTIVITY
  2. INNOVATIVE
  3. PROFIT POTENTIAL
  4. RISK BEARING
29
Q

Entrepreneurship is an economic activity
because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring
optimum utilization of limited resources.
creative.

A

ECONOMIC AND DYNAMIC ACTIVITY

30
Q

The entrepreneur
constantly looks for new ideas, thus he
needs to be creative.

A

INNOVATIVE

31
Q

The entrepreneur can be compensated by
his profit coming from the operation.

A

PROFIT POTENTIAL

32
Q

The entrepreneur
needs to gamble but wise enough to offset the risk.

A

RISK BEARING

33
Q

What are the five types of entrepreneurs?

A
  1. INNOVATIVE ENTREPRENEURS
  2. IMITATING ENTREPRENEURS
  3. FABIAN ENTREPRENEURS
  4. DRONE ENTREPRENEURS
  5. SOCIAL ENTREPRENEURS
34
Q
  • They are those who always make new things by thinking of new ideas.
  • They have the ability to think
    newer, better and more economical
    ideas.
A

INNOVATIVE ENTREPRENEURS

35
Q

They are those who don’t create new things but only follow the ideas of other
entrepreneurs.

A

IMITATING ENTREPRENEURS

36
Q

They are skeptical about changes to be made in the organization. They don’t initiate but follow only after they are

A

FABIAN ENTREPRENEURS

37
Q

They are those who live on the labor of others. They are
die-hard conservatives even ready to suffer the loss of business.

A

DRONE ENTREPRENEURS

38
Q

They are those who initiate changes and drive social innovation and transformation in
the various fields such as education, health, human rights, environment and enterprise development.

A

SOCIAL ENTREPRENEURS

39
Q

What are the career opportunities of entrepreneurship?

A
  1. BUSINESS CONSULTANT
  2. TEACHER
  3. RESEARCHER
  4. SALES
  5. BUSINESS REPORTER
40
Q

With the expertise of in the field of entrepreneurship, he can be a very good source of advices to other entrepreneurs and would be businessmen.

A

BUSINESS CONSULTANT

PRELIMS SEM2 (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions