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PRE-LIM > ENTREP > Flashcards

ENTREP Flashcards

1
Q

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

A

ENTERPRENDRE

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2
Q

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

A

ENTREPRENEUR / ENTERPRENDRE

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3
Q

The ______ is
created by an entrepreneur

A

ENTERPRISE

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4
Q

The process of creating enterprise is called ____.

A

ENTREPRENEURSHIP

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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

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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
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7
Q

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

A

DEVELOPMENT OF MANAGERIAL CAPABILITIES

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8
Q

Which means that because of
entrepreneurship many organizations will exist.

A

CREATION OF ORGANIZATIONS

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9
Q

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

A

IMPROVING STANDARD OF LIVING

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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

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11
Q

PERSONALITY FACTORS
ENVIRONMENTAL FACTORSWhat are the two factors affecting entrepreneurship?

A

PERSONALITY FACTORS
ENVIRONMENTAL FACTORS

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12
Q

What are the seven personality factors?

A

INITIATIVE
PROACTIVE
PROBLEM SOLVER
PERSEVERANCE
PERSUASION
A PLANNER
RISK-TAKER

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13
Q

Doing things even before being told.

A

INITIATIVE

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14
Q

Which means he can
classify opportunities and seize it.

A

PROACTIVE

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15
Q

Which means he
can retain good relations with other
people.

A

PROBLEM SOLVER

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16
Q

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

A

PERSEVERANCE

17
Q

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

A

PERSUASION

18
Q

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

A

PLANNER

19
Q

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

A

RISK-TAKER

20
Q

A Factor which
include political, climate, legal system,
economic and social conditions and
market situations.

A

Environmental Factors

21
Q

COMMON COMPETENCIES IN ENTREPRENEURSHIP

A

DECISIVE, COMMUNICATOR, LEADER, OPPORTUNITY SEEKER, PROACTIVE, RISK-TAKER, 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 SEEKER

26
Q

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

A

PROACTIVE

27
Q

an entrepreneur has the
courage to pursue business ideas.

A

RISK-TAKER

28
Q

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

A

INNOVATIVE

29
Q

CORE COMPETENCIES IN ENTREPRENEURSHIP

A

Economic and Dynamic Activity
Innovative
Profit potential
Risk Bearing

30
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

31
Q

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

A

Innovative

32
Q

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

A

Profit potential

33
Q

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

A

Risk Bearing

PRE-LIM (3 decks)

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