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Entrep Mind > Entrepreneurial Mindset > Flashcards

Entrepreneurial Mindset Flashcards

1
Q

The knowledge structures that people use to make assessment, judgements, or decision including opportunities evaluation, venture creation, and growth

A

Entrepreneurial cognition

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2
Q

Refers to the unique way entrepreneurs mentally process information that helps them identify and invent new services, and to assemble the necessary resources to start and grow a business

A

Entrepreneurial Cognition

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3
Q

It is the mental or the thinking process of an individual in venture creation

A

Entrepreneurial cognition

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4
Q

The ability to be dynamic, flexible and self-regulating in one’s cognition given dynamic and uncertain environments

A

Cognitive adaptability

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5
Q

Awareness or analysis of one’s own learning or thinking process

A

Metacognition

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6
Q

Strategies that help the entrepreneur examine their cognition processes that have led to them the decision they made

A

Metacognitive strategies

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7
Q

True or False

Entrepreneur must have determination and perseverance

A

True

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8
Q

It is continuing one’s dream and goal

A

Determination and Perseverance

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9
Q

Characteristics of an entrepreneur where they refuse to give up

A

Determination and Perseverance

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10
Q

Nobody have to push them to start something

A

drive to achieve

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11
Q
A
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12
Q

It is the essential ingredient for anyone to become successful

A

drive to achieve

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13
Q

True or False

An entrepreneur must have a drive to achieve

A

True

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14
Q

Entrepreneurs are constantly aware of opportunities that exist in everyday life

A

opportunity orientation

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15
Q

Setting a high but attainable goals and have the ability to focus their energies, selectively sort out opportunities, when to say “no”, and define their priorities as well as measures to know how well they are performing

A

Opportunity Orientation

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16
Q

Entrepreneurs have strong desire to know how well they are doing

A

seeking feedback

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17
Q

This helps entrepreneur to improve and be better

A

seeking feedback

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18
Q

Entrepreneurs are not intimidated by difficult situations

A

persistent problem solving

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19
Q

Simple problems bore them; but they couldn’t care less about unsoved ones

A

persistent problem solving

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20
Q

They are realistic in recognizing what they and and cannot do and where they can get hell to solve difficukt but unavoidable tasks

A

Persistent problem solving

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21
Q

They have control in what they are doing

A

internal locust of control

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22
Q

They are responsible of their own actions

A

internal locust of control

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23
Q

They are not affected by environment or circumstances

A

internal locust of control

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24
Q

Successful entrepreneurs believe in themselves

A

internal locust of control

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25
They believe that their accomplishments and setbacks are within their control and influence, and that they can affect the outcome of their action
internal locust of control
26
Successful entrepreneurs can deal with various setbacks and changes that constantly confront them
tolerance for ambiguity
27
Successful entrpreneurs are not gamblers they are calculated risk takers
calculated risk taking
28
They do everything possible to get the odds in their favor, and they often avoid taking unnecessary risk
calculated risk taking
29
They have the courage to take risk but they are not reckless
calculated risk taking
30
They assess their ideas if it is worth it or not
calculated risk taking
31
Once regarded as an exclusive inherited trait
creativity
32
An expanding school of thought believes that creativity can be developed
creativity and innovativeness
33
New ventures often possess a collective creativity that emerges from the joint efforts of the founders and personnel, and produces unique goods and services
creativity and innovativeness
34
Successful entrepreneurs know where they want to go
vision
35
They have a _______ or concept of what their firms can be
vision
36
True or False Eventhough not all entrepreneurs have predetermined vissions for their firms, the vision will not develop overtime
flase (it will develop overtime)
37
A fundamental emotional experience for entrepreneurs
passion
38
The underlying force that fuels your stringest emotions
passion
39
The intensity felt when engaging in activities of deep interest
passion
40
The energy that enables entrepreneurs to achieve peak performance
passion
41
Most successfuk entrepreneurs have highly qualified, well-motivated teams that help them handle the venture’s growth and development
team building
42
Created to pursue new and unique opportunities
entrepreneurial ventures
43
They often fail due to the _______ environment within which they developlearning process
uncertain
44
Entrepreneurs use failure as a __________
Learning process
45
M
46
True or False Learning is automatic and instantaneous
False (not automatic and instantaneous)
47
True or False Emotions generated by failure will not interfere with 'the learning process
False (it can interfere)
48
It is a negative emotional response to the loss of something important triggering behavioral, psychological, and physiological response
Grief
49
Focuses on the loss to determine its origin that eventually leads to an emotional breakthrough
Loss Orientation
50
Distracting oneself from thinking about the failure
Restoration Orientation
51
Oscillating between a loss and a restoration orientation
Dual Process Model
52
Gains the benefit of both orientations and minimizes the cons of each
dual process model
53
avoiding negative emotions is unlikely to be successful in the future
restoration orientation
54
focusing on the failure may only escalate the grief
loss orientation
55
Risk of losing money, savings and assets
Financial Risk
56
True or False Financial Risk vs the profit varies in the entrepreneur's desire for wealth
True
57
Can be a personal choice if you are venturing for business
Career Risk
58
True or False Your career and employees are at risk when your business went bankrupt
True
59
you don't have time for family and friends since you're focused on your venture
Family and Social Risks
60
Can have a psychological impact and well-being of an entrepreneur
Psychological Risk
61
True or False Independence, wealth, work, and satisfaction is the ultimate goal of an entrepreneur
True
62
It is experienced until goal is achieved
stress
63
experienced when goal is unachieved
stress
64
True or False Entrepreneurial stress do not exist
False (exist)
65
True or False stress can be viewed as function of discrepancies between persons expectation, inability to meet demands, as well as discrepancies between the individual's expectation and to one's personality.
True
66
Loneliness, immersion in business, people problems, and the need to achieve are source of what
stress
67
below are how to deal with stress except a. networking b. getting away from it all c. communicating with employees d. finding satisfaction outside the company e. delegating f. exercising rigorously h. immersion in business i. none of the above
h. immersion in business
68
you have strong drive of the need to control everything
overbearing need for control
69
look out for changes that you start to distrust changes
sense of distrust
70
starting to focus on trivial things
sense of distrust
71
lost sight of reality
sense of distrust
72
distorted reasoning
sense of distrust
73
destructive action
sense of distrust
74
strong drive to succeed against all odds
overriding desire for success
75
you forgot your ethics when you are ______________
overriding desire for success
76
the individual becomes more important than the venture itself
overriding desire for success
77
means "custom or mode of conduct"
ethos
78
challenged philosophers for centuries to determine what is exactly wrong or right
ethics
79
True or False There is no single universal formula for solving ethical problems
True
80
True or False Entrepreneurs must realize the powerful impact that integrity and ethical conduct have on creating a successful venture
True
81
Provides the basic parameters for conducting any activity in an acceptable manner
ethics
82
represents a behavioral code that explains what is good and bad
ethics
83
definitions are not the problem, the implementation is
ethics
84
Acting outside one's role or duties
Nonrole (against the firm)
85
failing to perform the true role of the position
Role Failure (against the firm)
86
Misconstructed thinking that they are acting in the best interests of the firm
Role Distortion (for the firm)
87
Asserting roles beyond what they should be
Role assertion
88
expense account cheating, embezzlement, stealing supplies are example of
Non role (against the firm)
89
Superficial performance appraisal, failing to promote or hire the truly qualified are examples of
Role Failure (against the firm)
90
Bribery, Price Fixing, Manipulating suppliers are example of
Role distortion (For the firm)
91
Not withdrawing unsafe products, and investing with unethical government are examples of
Role Assertion (for the firm)
92
Age old dilemma that is the root of ethical conflict
ethics and the law
93
True or False Legality provides societal standards but not definitive answers to ethical questions
True
94
True or False The law provides the boundaries for what is illegal (even though the law is subject to constant interpretation), it does not supply answers for ethical consideration
True
95
True or False Ethical decisions often have a ripple effect, where the consequences can be felt by others outside the organization
True
96
True or False Business decisions that involve ethical questions have multiple alternatives
True
97
True or False Ethical business decisions often have mixed outcomes
True
98
True or False Most business decisions have uncertain ethical consequence
True
99
True or False A decision is never without ethical risk
True
100
True or False Most ethical business decisions have personal implications
True
101
This continue to redefine the social norms in commerce
E-commerce and online purchases
102
Because of this face-to-face interactions are becoming less frequent consumers are doubting the trustworthiness of businesses and services available online
E-commerce
103
Below are the ethical Dilemmas in e-commerce except a. Redefining social norms in e-commerce b. trustworthiness of online services and business c. consumer reviews d. ethical policies to remain reputable e. none of the above
e. none of the above
104
it is a statement of ethical practices or guidelines to which an enterprise adheres to
Code of conduct
105
Research shows these have become prevalent in many industries
Ethical Codes of Conducts
106
True or False When designing a Ethical Codes of Conduct one should should make it comprehensive and inclusive so that it covers as many ethical issues as possible. And, make it easy to implement
True
107
The entrepreneur is the key figure to set the tone in the organization
Ethical Conciousness
108
Refer to the procedures, positions statements (codes), and announced ethical goal designed to avoid ambiguity
Ethical process and Structures
109
Incorporate the venture’s ethical objectives with its economic objectives.
Institutionalization

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