entrep lesson2 Flashcards
essentials for entrepreneurial opportunity seeking
entrepreneurial mind frame
heart flame
gut game
This allows the entrepreneur to see things in a very positive and optimistic way in
the midst of difficult situation
entrepreneurial mind frame
Entrepreneur’s driven
passion, they are attracted to discover satisfaction in the act
and process of discovery
entrepreneurial heart flame
This refers to the ability of
the entrepreneur of being
intuitive
entrepreneurial gut game
sources of opportunities
changes in the environment
technological discovery and advancement
government’s thrust, programs and policies
people’s interests
past experiences
three types of opportunities found in the environment
physical environment
societal environment
industry environment
inclusions of physical environment
climate
natural resources
wildlife
inclusions in the societal environment
political
economic
sociocultural
technological
inclusions in the industry environment
Competitors
Customers
Creditors
Employees
Government
Suppliers
A person with entrepreneurial interest sees possibility of
business opportunities in any new discovery or because of the use of latest technology.
TECHNOLOGICAL DISCOVERY AND ADVANCEMENT
The priorities, projects, programs, and policies of the government
are good sources of ideas
GOVERNMENT’S THRUST, PROGRAMS, AND POLICIES
The interest, hobbies, and preferences of people are rich source of entrepreneurial
ideas.
PEOPLE’S INTEREST
The expertise and skills developed by a person who has worked in a particular field may lead to the opening of related business enterprise.
past experiences
it is the act or process
of trying to get or win something
competition
five forces competing in the industry
buyer, supplier, substitute product, potential new entrants, rivalry among firms
