ENTREP L1 Flashcards
It is the process of action an entrepreneur undertakes to establish his enterprise.
Entrepreneurship is a creative activity.
Entrepreneurship
“one who undertakes an enterprise, especially a contractor- acting as intermediary between capital and labour”
Entrepreneur
Characteristics of an Entrepreneur
Mental Ability
Business Secrecy
Clear Objectives
Human Relation
Communication Ability
Technical knowledge
-Entrepreneur must have creative thinking and must be able to analyse problems and situations. He should be able to anticipate changa
Mental Ability
-He should know his business secret from his competitors
Business Scerecy
He must have ______as to the exact nature of business or the nature of goods to be produced.
Clear Objectives
He must maintain good relation with his costumers, employees etc. To maintain good relationship he should have emotional stability, personal relations and considerations.
Human Relations
He should have good _____ skills means both the sender and the receiver should understand each others message
Communication Ability
an Entrepreneur should have sufficient _____ knowledge
Technical Knowledge
Personal Characteristic of an
ENTREPRENEUR
• LONG TERM INVOLVEMENT
• MOTIVATOR
• RISK TAKER
• INITIATIVE
• HIGH ENERGY LEV
• GOAL SETTER
• SELF CONFIDENCE
Factors affecting entrepreneurship (PERSONALITY FACTORS
Initiative
Proactive
Problem Solver
Perseverance
Persuasion
A Planner
Risk-taker
Factord affecting entrepreneurship (EMVIRONMENTAL FACTOR)
Social
Political
Ecological
Environmental
Technological
Factord affecting entrepreneurship (EMVIRONMENTAL FACTOR)
Social
Political
Ecological
Environmental
Technological
Common Competencies in
Entrepreneurship
Decisive
Communicator
Leader
Opportunity Seeker
Proactive
Risk Taker
Innovative
Core Competencies in
Entrepreneurship
Economic and dynamic activity
Innovative
Profit Potential
Risk Bearing
