Entrepreneur Flashcards
The word entrepreneur originates from the French word…
entreprendre means “to undertake” (start a business)
is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.
entrepreneur
elements of entrepreneurship
- creativity and courage
- business idea
- business plan
- products and services
- vision and farsighted
- motivation and leadership
- innovation
- ambition
- self-confidence
- risk taking abilities
- entrepreneurial knowledege
is the propensity of mind to take calculated risks with confidence to achieve a pre-determined business or industrial objective
entrepreneurship
benefits of entrepreneurship
- opportunity to create own destiny
- opportunity to make a difference
- opportunity to reach to full potential
- opportunity to reap impressive profits
- opportunity to contribute to society.
- opportunity to do work with enjoyment
risks of entrepreneurs:
- competitive risk
- technological risk
- political and legal
- economical risk
- employee risk
- strategic risk
10 deadly mistakes of entrepreneurship
- management mistakes
- lack of experience
- poor financial control
- weak marketing efforts
- uncontrolled growth
- poor location
- improper inventory control
- incorrect pricing
- entrepreneurial transition
- failure to develop a strategic plan
concept of an entrepreneur:
- it refers to a person
- creator
- organizer
- decision maker
- initiator
- leader
- motivation
- risk taker
importance of entrepreneurship:
- reduces poverty level
- increases employment
- fulfills the demand of people
- helps to develop economic condition of a country
allows the entrepreneur to see things in a very positive and optimistic light in the midst of crisis or difficult situations.
entrepreneurial mind frame
crisis in chinese writing
danger and opportunity
is the great desire to attain a vision or fulfill a mission.
passion
is also about emotional intelligence or EQ, which is often manifested in the entrepreneurs efforts to nurture relationships with customers, employees, and suppliers.
heart flame
refers to the of the ability of the entrepreneur to sense without using five senses. Also known as INTUITION
entrepreneurial gut game
conceptualizes and designs a product that consumers find some use for.
creative mind
is the technology originator.
techniquel mind
harnesses the potentials of new products by creating the market space for them.
business mind
the seed of entrepreneurship is the ability to see things differently.
creativity
is a relatively recent concept that focuses on employees of a company that have many of the attributes of entrepreneurs
intrapreneurship
a person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk taking and innovation
intrapreneur
one who sets up, maintains and assumes the financial risks of an internet business venture not to be confused with intrapreneur… They are the new breed of internet entrepreneurs
intrepreneur
