ENTREPCORE-4 Flashcards
An entrepreneur is considered an important sector of economic progress.
entrepreneur
Fundamentally, an __________ is a person who is accountable for the conception of a business or an enterprise.
entrepreneur
A catalytic go-between of change and works for the good of society.
entrepreneur
An ___________ is the one who has the initiative, skill for innovation and who looks for high successes.
entrepreneur
The _________ is essential to influence socio-economic change.
entrepreneur
The term _______ is defined diversely—no harmony in carrying out the specific skills and abilities that make an individual a successful entrepreneur.
“entrepreneur”
It is highly well-thought-out that entrepreneurs can develop through appropriately designed enterprise development (ED) programs and policies. These programs and policies are generally of three (3) different stages:
- Development of achievement motivation, and sharpening entrepreneurial traits and behavior;
- There are planning and development of a venture; and
- The guidance provided on enterprise opportunities, incentives and facilities, rules and regulations, and the development of administrative and operational capabilities
The importance of ________on enterprise development entices new entrepreneurs to engage in small enterprises, with the widely available and developed human resources.
programs and policies
____________ are the starting point of Industrial Development in almost all countries.
Individual enterprises
________- and ________ corporations have mostly received their inspiration from a certain or a few individuals.
Multinational
Transnational
True of False: In small industries, the venture is centering around a single individual.
true
Entrepreneurs’ initiative in various types of business occupations of varying sizes. The broad classifications are as follows:
According to Type of Business
_________ develop ideas for new products or services and · organize a business to make these ideas towards realism.
Business entrepreneurs
__________-use both production and marketing resources in the search to develop new business opportunities.
Business Entrepreneurs
A ___________ assumes trading activities and is not concerned with manufacturing or production work.
trading entrepreneur
This kind of entrepreneur identifies potential markets, stimulates demand for product lines and services, and creates a yearning besides interest among buyers to go in for the products or services.
trading entrepreneur
It can engage in both domestic and overseas trade. These entrepreneurs established their ability to push many ideas ahead, which promoted their business.
trading entrepreneur
An ________ is principally a manufacturer who identifies customers’ potential needs and tailors’ products or services to meet marketing needs.
industrial entrepreneur
This product-oriented entrepreneur twitches in an industrial component because of the likelihood of making some new products.
industrial entrepreneur
This kind of entrepreneur can translate economic resources and technology into a considerably profitable venture.
industrial entrepreneur
They can be in any industrial sector such as the electronic industry, textile units, machine tools, or mobile telecoms plant, and all that.
industrial entrepreneur
A _______- is an individual who demonstrates innovative skills in organizing and managing a corporate enterprise.
corporate entrepreneur
A________ is a form of a business organization registered under some statute or law that gives a separate legal entity.
corporate enterprise
A company registered under the Corporation Code is an example of _________.
corporate enterprises
A __________is consequently an individual that plans to develop and manages a corporate body.
corporate entrepreneur
_____________ are those entrepreneurs who undertake such agricultural activities as raising and marketing of crops, fertilizers, and other involvements of agriculture.
agricultural entrepreneurs
These ___________ are motivated to raise agriculture’s productivity through mechanization, irrigation, and reliable ground agriculture technologies.
agricultural entrepreneurs
They cover a wide range of the agrarian sector and include agriculture and similar occupations.
agricultural entrepreneurs
The application of technological advancement in various sectors of the national economy is indispensable for an enterprise’s future growth. Classifying into broad these entrepreneurs based on the use of technology as follows:
According to the Use of Technological Advancement
A _________ is principally an entrepreneur of “artisan.”
Technical Entrepreneur
This entrepreneur develops innovative and better-quality of goods because of craftsmanship.
Technical Entrepreneur
They are concentrated more on production than marketing.
Technical Entrepreneur
_______ do not care much to generate sales by applying various sales promotional techniques. Demonstrates innovative capabilities in matters of production of goods and rendering services.
Technical Entrepreneur
The greatest strength which the _______ has is the expertise in cutting-edge production systems.
techno-entrepreneur
__________ in methodological aspects are not bound to the product in which they deal.
Non-technical entrepreneurs
This kind of entrepreneur is concerned only with developing alternative marketing and distribution strategies in promoting the enterprise.
Non-technical entrepreneurs
A ___________ is an individual concerned with instituting an enterprise but does not have an interest in supervision or operation once formed. An experienced entrepreneur peddles out the operational enterprise and jolts one more venture with the sales earnings. Dynamic entrepreneur conceives new ideas to develop alternative projects.
professional entrepreneur
Motivation is the vigor that impacts the efforts of the entrepreneur to achieve goals. An entrepreneur is motivated to attain or prove distinction in a professional act and is encouraged to influence others by indicating control, thus satisfying self-worth.
According to Motivation
A _______ is a person that stirred through rewards psychologically and economically.
pure entrepreneur
A _______ undertakes entrepreneurial tasks for personal satisfaction in work, ego, or status.
pure entrepreneur
An__________ is encouraged to engage in a task because of government policy measures that provide backing, incentives, concession, and necessary overhead accommodations to start an enterprise. Most entrepreneurs enter business due to financial, technical, and several other government agencies’ facilities to encourage entrepreneurship. They are providing an individual with a sound project suite assistance to venture.
induced entrepreneur
New-fangled entrepreneurs are motivated by the desire ‘for self-fulfillment. These individuals come into being because of the prospect of making and marketing innovative products for consumers. Establishing the suppose the product into a saleable stage. In that case, the entrepreneur is further motivated by reward in terms of return.
Motivated Entrepreneur
These entrepreneurs start their enterprise out of their natural capacities.
Natural Entrepreneur
________ are persons with initiative, self-assurance, and confidence in their abilities, which motivate them to do enterprising action. Such entrepreneurs have full conviction and confidence in their knowledge.
Natural Entrepreneurs
_______- are those who inevitably take up a high-growth industry. These entrepreneurs choose an industry, which has significant growth prospects.
Growth-entrepreneurs
_________ made known massive growth of performance in their venture—the growth performance identification by viability, gearing, and liquidity of funds.
According to Phases of Development
Super-growth entrepreneurs
A _________ is an innovatively skilled individual that combines different technologies to produce a marketable product or service.
first-generation entrepreneur
A _________ enters into ventures that go well along with the changing demand in the market.
modem entrepreneur
___________ undertakes those ventures which suit the current marketing requirement
Modern entrepreneur
A ___________- is concerned with the customers and marketing needs through the development of a self-supporting enterprise.
classical entrepreneur
This entrepreneur is a typecast entrepreneur whose aim is to maximize economic takings at a side-by-side consistency with its subsistence with or without an element of growth
classical entrepreneur
____________ is distinguished by the aggressive accumulation of data and analysis of outcomes, deriving from an original combination of factors.
Innovating entrepreneurship
These entrepreneurs are commonly bold in experimentations that display ingenuity in putting striking options into practice.
Innovating entrepreneurship
This entrepreneur perceives the opportunity for introducing an original method of the production process or a new product or a new market or a new service or even reorganization of an existing enterprise.
Innovating entrepreneurship
_________ is likely to adopt successful innovations by innovating entrepreneurs. Firstly, imitate methods and technology innovated by others.
Imitative entrepreneurship
This type of business is the simplest, inexpensive, and most practical and common form of business.
Sole Proprietorship
basic business plan are covered in the five elements of the basic business plan:
- the business model
- feasibility
- marketing
- operations
- finances
The outline for a business plan starts with a summary, often called an ________.
executive summary
the ______outline is a valued overview of what the plan is all about.
summary or executive summary
If someone wants to be in business for oneself, the entrepreneur must take the first step. You must start writing the ______-.
business plan
______ implies gathering data about the group(s) of potential clients that your business focuses on in the strictest sense.
Market research
________ incorporates things like recognizing the quantities of expected clients, their attributes, and the amount they spend on your items or administrations.
Market Research
true or false: The principle contemplations for the area are typically closeness to clients, transportation, providers, and different administrations.
true
In analyzing your traffic, the question you want to answer is:
“How many potential customers pass by my place of business during times when they are likely to buy?”
________ includes the ability to see into your place of business.
Visibility
The________ is not just how much a customer group will buy from your business; it is how much they will buy of the product or service in total, including from all your competition.
market potential
Knowing the ___________helps you plan the long-range strategy for your business. First, having this estimate of the total amount of business going on in your field, in your target area, helps you predict your sales.
market potential
__________ are firms similar to your own in terms of size, location, and the services they offer, and they pursue the same groups of customers you are trying to get.
Direct competitors
___________: companies that are not like your business but are an alternative way for your potential customers to satisfy their needs.
indirect competition
In your business plan, you must demonstrate that you have at least identified your competitors and, ideally, that you know their sales volume and their strengths and weaknesses. Typically, this information will come from:
- Experience. You may have worked for one or more of your competitors or have extensive knowledge about the industry.
- Primary research. You may try to interview those who are knowledgeable about the competition, including employees, customers, or suppliers. You may even observe your competitors (perhaps by unobtrusively hanging around the cash register, trying to keep track of sales).
- Secondary research. Published information about individual small businesses is rare; when it does exist, it is most likely to be found in business directories.
_____________is the theft of small amounts of materials, usually by employees, suppliers, or transport people. It is a bigger problem in retail and wholesale businesses, but office supplies can disappear at an alarming rate, even in small offices.
Pilfering
The primary defenses against _________ are tight inventory control (perhaps by having employees sign for supplies) and employee training (awareness of the costs and consequences of pilfering).
pilfering
If you plan on having a retail store that sells anything smaller than refrigerators, plan on encountering those who will try to walk off with inventory. The most significant number of perpetrators are juveniles, but the hardest to protect against are the professionals. The more economical defenses against shoplifting include an evident store layout, trained employees (who know what to watch for and how to respond), mirrors, and even security cameras (which have dropped in price over the past few years).
Shoplifting:
_________ is when someone entrusted with your (or your company’s) money puts that money to their use. Embezzlers can be professional service providers such as lawyers or accountants or employees such as bookkeepers or cashiers. Protections against embezzlement include using only bonded or insured professionals and implementing strict cash handling and auditing procedures.
Embezzlement
_________ is when your place of business is broken into either by vandals or by professional thieves. Defenses against burglary start with a good set of locks and can include alarm systems, window bars, or security services. The level of
burglary protection will vary widely from the simple “no valuables” office to the high- end jewelry store.
Burglary
_________ laws are designed to protect your work in the arts, communication, design, or applied research, but the actual enforcement of these laws is left to you
Intellectual property
_______ protection is for an invention.
Patent
_________ covers software and works of art, including writing, music, and visual arts.
Copyright protection
A ________ protects a word, phrase, or symbol that identifies your company and its products.
trademark
Trademarks are registered by country and protect for at least ______ years, but this protection is renewable indefinitely.
15
_________ applies to a pattern, a shape, or an ornamental design of mass-produced manufactured products.
Industrial design protection
_______- is the only other kind of intellectual property specifically protected by law. Technically, it is called “integrated circuit topography” (ICT) and, unless you are in the business of designing microchips, you do not need to know about it. If you need to know, registration of a chip design is done on a country-by-country basis, although each country has reciprocal agreements with many other countries.
Microchip design
