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STEM FIRST & SECOND SEMESTER TFUCS > Entrepreneurship 2ND SEM (Part I) > Flashcards

Entrepreneurship 2ND SEM (Part I) Flashcards

1
Q

plays an important role in developing
the economy.

A

Entrepreneurs

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2
Q

are encouraged by the economy because they can provide a lot of opportunities for the unemployed young people.

A

Entrepreneurs

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3
Q

4 Relevance of Entrepreneurship to an Organization

A
  1. Development of Managerial Capabilities
  2. Creation of Organizations
  3. Improving standard of living
  4. Means of economic development
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4
Q

which means that because of entrepreneurships many organizations will exist.

A

Creation of Organizations

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5
Q

this means that entrepreneurship can lift up the economic status of an individual.

A

Improving standard of living

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6
Q

this means that not only the life of the entrepreneur is improved but also the society where the business is located.

A

Means of economic development

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7
Q

Concept of Entrepreneurship The word “entrepreneur” was derived from the French verb ______________, which means ____________

A

enterprendre
“ to undertake”

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8
Q

commit oneself to and begin (an enterprise or responsibility)

A

Undertake

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9
Q

are innovators, willing to take risks and generate new ideas to make it unique and profitable solutions to the present-day problems.

A

Entrepreneurs

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10
Q

2 Factors affecting entrepreneurship

A

Personality Factors
Environmental Factors

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11
Q

7 Personality Factors

A

Initiative
Proactive
Problem Solver
Perseverance
Persuasion
A Planner
Risk - Taker

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12
Q

5 Environmental Factors :

A

Politics
Climate
Legal System
Economic and Social Conditions
Market Situations

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13
Q

which means doing things even before being told

A

Initiative

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14
Q

which means he can classify opportunities and seize it.

A

Proactive

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15
Q

which means he can retain good relations with other people.

A

Problem Solver

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16
Q

meaning he will pursue things to get done regardless of challenges

A

Perseverance

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17
Q

means that he can entice people to buy even if they don’t.

A

Persuasion

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18
Q

meaning he makes plan before doing things and do not fail to monitor it.

A

A Planner

19
Q

which means that he is willing to gamble but he will calculate it first.

A

Risk - Taker

20
Q

7 Common Competencies in Entrepreneurship

A

Decisive
Communicator
Leader
Opportunity Seeker
Proactive
Risk Taker
Innovative

21
Q

an entrepreneur must be firm in making decisions.

A

Decisive

22
Q

an entrepreneur must have a convincing power.

A

Communicator

23
Q

an entrepreneur an entrepreneur must have the charisma to be obeyed by his employees

A

Leader

24
Q

an entrepreneur must have the ability to be the first to see business chances.

A

Opportunity Seeker

25
Q

controlling a situation by making things to happen or by preparing for possible future problems.

A

Proactive

26
Q

they have the courage to pursue what is their business ideas.

A

Risk Taker

27
Q

the entrepreneurs have big business ideas and they do not stop improving and thinking of new worthwhile ideas for their business.

A

Innovative

28
Q

4 Core Competencies in Entrepreneurship

A

Economic and Dynamic Activity
Innovative
Profit Potential
Risk Bearing

29
Q

Core Competencies in Entrepreneurship

Entrepreneurship is an economic activity because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring
optimum utilization of limited resources.

A

Economic And Dynamic Activity

30
Q

Core Competencies in Entrepreneurship

Entrepreneurs constantly look for new ideas, thus he needs to be creative.

A

Innovative

31
Q

Core Competencies in Entrepreneurship

meaning the entrepreneur can be compensated by his profit coming from the operation.

A

Profit Potential

32
Q

Core Competencies in Entrepreneurship

meaning the entrepreneur needs to gamble but wise enough to offset the risk.

A

Risk Bearing

33
Q

5 Types of Entrepreneurs

A

Innovative Entrepreneur
Imitating Entrepreneur
Fabian Entrepreneurs
Drone Entrepreneur
Social Entrepreneurs

34
Q

Types of Entrepreneurs

they are those who always make new things by thinking of new ideas.

A

Innovative Entrepreneurs

35
Q

Types of Entrepreneurs

they are those who don’t create new things but only follow the ideas of other entrepreneurs.

A

Imitating Entrepreneurs

36
Q

Types of Entrepreneurs

they are those skeptical. They don’t initiate but follow only after they are satisfied.

A

Fabian Entrepreneurs

37
Q

Types of Entrepreneurs

they are those who lives on the labor of others. They are die-hard conservatives even ready to suffer the loss of business.

A

Drone Entrepreneurs

38
Q

Types of Entrepreneurs

they are those who initiate changes in the various fields such as education, health, human rights, environment and enterprise development.

A

Social Entrepreneurs

39
Q

5 Career Opportunities of Entrepreneurship

A

Business Consultant
Teacher
Researcher
Sales
Business Reporter

40
Q

Career Opportunities of Entrepreneurship

with the expertise of the entrepreneur he can be a very good source of advices to other entrepreneurs and would be business man.

A

Business Consultant

41
Q

Career Opportunities of Entrepreneurship

a graduate of an entrepreneurship can be use his knowledge in teaching

A

Teacher

42
Q

Career Opportunities of Entrepreneurship

the entrepreneur can be employed as researcher by an enterprise.

A

Researcher

43
Q

Career Opportunities of Entrepreneurship

the entrepreneurship graduate can apply as salesman

A

Sales

44
Q

Career Opportunities of Entrepreneurship

the entrepreneur being expert in the field, he can be employed as business __________

A

Business Reporter

STEM FIRST & SECOND SEMESTER TFUCS (50 decks)

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