ENTREP Flashcards
The word “entrepreneur” was derived from the French verb _____ which means “to undertake”
ENTERPRENDRE
This is pinpointing to those who “undertake”
the risk of enterprise.
ENTREPRENEUR / ENTERPRENDRE
The ______ is
created by an entrepreneur
ENTERPRISE
The process of creating enterprise is called ____.
ENTREPRENEURSHIP
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.
ENTREPRENEURS
What are the four relevance of entrepreneurship to an organization?
- DEVELOPMENT OF MANAGERIAL CAPABILITIES
- CREATION OF ORGANIZATIONS
- IMPROVING STANDARD OF LIVING
- MEANS OF ECONOMIC DEVELOPMENT
This means that one of the benefits an entrepreneur gets is to
develop his managerial skills.
DEVELOPMENT OF MANAGERIAL CAPABILITIES
Which means that because of
entrepreneurship many organizations will exist.
CREATION OF ORGANIZATIONS
This means that
entrepreneurship can lift up the economic status of an individual.
IMPROVING STANDARD OF LIVING
This means that not
only the life of the entrepreneur is
improved but also the society where
the business is located.
MEANS OF ECONOMIC DEVELOPMENT
PERSONALITY FACTORS
ENVIRONMENTAL FACTORSWhat are the two factors affecting entrepreneurship?
PERSONALITY FACTORS
ENVIRONMENTAL FACTORS
What are the seven personality factors?
INITIATIVE
PROACTIVE
PROBLEM SOLVER
PERSEVERANCE
PERSUASION
A PLANNER
RISK-TAKER
Doing things even before being told.
INITIATIVE
Which means he can
classify opportunities and seize it.
PROACTIVE
Which means he
can retain good relations with other
people.
PROBLEM SOLVER
Meaning he will
pursue things to get done regardless of
challenges.
PERSEVERANCE
means that he can
entice people to buy even if they don’t
want
PERSUASION
he makes plans before
doing things and does not fail to
monitor it.
PLANNER
which means that he is
willing to gamble but he will calculate it
first.
RISK-TAKER
A Factor which
include political, climate, legal system,
economic and social conditions and
market situations.
Environmental Factors
COMMON COMPETENCIES IN ENTREPRENEURSHIP
DECISIVE, COMMUNICATOR, LEADER, OPPORTUNITY SEEKER, PROACTIVE, RISK-TAKER, INNOVATIVE
an entrepreneur must be firm
in making decisions
DECISIVE
an entrepreneur must
have a convincing power.
COMMUNICATOR
an entrepreneur must have the
charisma to be obeyed by his employees.
LEADER
