Entrepreneurship as Innovation and Problem Solving Flashcards
What did the japanese do to keep the fish fresh?
They put the caught fishes in a tank and added a shark in it so that even if some fishes die some are still alive as they were challenged
the japanese’s love for the fish led to?
usage of bigger boats
the Japanese’s need for the fish led to?
Installation of freezers
the Japanese’s ability to taste fresh fish over frozen fish led to?
Installation of fish tanks
to improve the taste of fresh fish the japanese____
added shark to installed fish tank
For an entrepreneur, the main motivating factor which urges them to continue in their entrepreneurial pursuit is____
Challenge
Why are entrepreneurs called problem solvers?
Entrepreneurial actions are efforts to solve problems for others. thus, entrepreneurs are called problem solvers
who invented kfc and where?
colonel sanders. in a gas station (1930)
when was kellogg’s invented?
1906 (it was made available to general public)
who invented kellogg ?
Dr. John Harvey Kellogg and Will Keith Kellogg
___ and ___ are the distinguishing marks of an entrepreneur?
creativity(continuous activity for the entrepreneur) and innovation [both are habitual for an entrepreneur]
who invented penicillin?
Sir Alexander Fleming (scientist)
- searching for a wonder drug that could cure diseases
- he found it out only when he threw away his expmts
how was penicillin created?
- fleming noticed a contaminated petri dish (he discarded it at first), there was a mold in it that was dissolving all the bacteria around it
- he then grew the mold by itself and it contained a powerful antibiotic, penicillin.
who invented potato chips?
George crum(chef at carey moon lake in sarotoga springs) -was going to make a plate of fried potato
how was potato chips created?
- when crum was chef
- annoying but brilliant customer asked for potatoes to be more fried & thinner
- crum angry. cut potato very thin and fried till it became hard as a rock.
hence, ladies and gentlemen POTATO CHIPS
Who invented the pacemaker?
John Hopps (electrical engineer)
- conducting research on hypothermia(when exposed to cold temperatures, your body begins to lose heat faster than it’s produced)
- was trying to use radio frequency heating to restore body temp
how was pacemaker created?
while doing his expmts hopps realised if a heart stopped beating due to colling then it could be started again by artificial stimulation.
who invented microwave ovens?
percy spencer (engineer) -was conducting a radar-related research project with a new vacuum tube
how was the microwave oven invented?
-during spencer’s expmts he realised that the candy bar in his poket started to melt so he put popcorn in the machine and when it popped
MICROWAVE YALL
who invented ink-jet printers?
Ichiro Endo (canon engineer)
how were ink-jet printers invented?
endo rested his hot iron on his pen by accident, but he noticed that ink was ejected from the pens point a few moments later. this led to ink-jet printer creation
who invented X-rays?
Wilhelm Roentgen (physicist) -was interested in investigating cathode ray tubes
who was X-ray created?
when light passed through cathode ray tubes roentgen noted that the sheets of paper in his lab were illuminated even though his machine had an opaque cover
“social entrepreneurship is which combines the passion of a social mission with an image of business like discipline, innovation and determination’ who said this?
J. Gregory Dees
“the social entrepreneur aims for value in the form of large-scale transformational benefit that accrues either to a significant segment of society or to society at large” who said this?
Martin and Osberg
The social entrepreneur targets his/her programs at the_____
underserved, neglected or highly disadvantaged population that lacks the financial means or political clout to achieve the transformative benefit on its own
who is the founder of grameen bank?
Muhmmad Yunus
-2006 nobel peace prize
who found a solution to the plight of poor Bangladeshis who are unable to acquire funds to start their own business?
Muhammad Yunus
-solution-microcredit
______________involves an extremely small loan given to an individual to help them become self-employed or grow a small business?
Microcredit
who said “grameen bank sustained itself by charging interest on its loans and then recycling the capital to help other women”?
Martin and Osberg
the success of ___in at Anand in Gujarat eventually led to the creation of various co-operative societies across the country
AMUL
(other examples:-saras in rajasthan
- mother diary in delhi
- aarey in maharashtra)
entrepreneur’s final objective is ____
wealth creation
social entrepreneur’s final objective is____
social improvement
- with created wealth -valuable social programs for the whole community
- for him wealth creation is simply a means to an end
the father of the white revolution? (operation flood)
Mr. Verghese Kurien
- Padma Vibushan
- Ramon Magsaysay
- Krushi Ratna
when was the National Diary Development board (NDDB) created?
1965
what was the biggest problem faced by the NDDB?
- demand for milk more than supply
- thus money-biggest problem
- NDDB tried to pursue world bank for money
- got money with no conditions
- operation flood
who set up Gujarat Co-operative milk Marketing Federation (GCMMF)-an individual marketing unit of Amul and when?
Verghese Kurien, 1973
what did Verghese Kurien do to pass on gained knowledge to future generations and to place rural India in the the map of India?
founded IRMA-Institute of Rural Management Anand, 1979
_____is the largest milk producing country
India
why is social entrepreneurship needed?
to mitigate the financial repercussions among vulnerable-J Gregory Dees
Characteristics of Social Entrepreneurs
Social Catalysts Socially aware Opportunity-seeking Innovative Resourceful Accountable
“though they may act locally, their actions have the potential to stimulate global improvements in their chosen areas, whether that is education, health care, economic development, the environment or any other social field’ which characteristic of social entrepreneur does this show?
Social catalyst
success of social entrepreneurs is measured by their _____, not by the amount of profits generated
social impact
relentless pursuit of their goals, seeing every obstacle as an opportunity to develop and fine-tune their business models. which characteristic of a social entrepreneur?
Opportunity-seeking
creativity and willingness to think outside the box. which characteristic of social entrepreneur?
Innovation
visions are not limited by resources. which characteristic of social entrepreneur?
Resourceful
founder of ‘bhuddan andolan’ (land gift movement)
Vinoba Bhave
-caused redistribution of more than 7000000 acres of land to aid India’s untouchables and landless
Who started the self-emploed women’s association?
Ela Bhatt, 1972
-trade union of poor, unorganised, self-employed women who work as vendors, hawkers and labourers
who founded george foundation? and when was it established?
Dr. Abraham M. George
Jan 1995, Bangalore
-mission-work towards poverty eradication, promote environmental health, strengthen democratic institutions and values in developing countries
who is the founder of AMUL Dairy Project
Dr. Verghese Kurien
who is the founder of barefoot college?
-promotes rural development through innovative education programs
Bunker Roy
founder of jaipur rugs?
-promotes rural development through capacity building of rural people in carpet weaving
Nand Kishore Chaudary
founder of selco(solar electric light company-1995) India?
Harish Hande
-Magsaysay Award Winner 2011
India’s leading solar technology firm
Selco India
who were the first group to be recognised under sewa?
garment workers formed their own co-operative.
-these so-operatives were formed with the shared capital provided by the women
In this competitive world in order to attract a customer, the entrepreneurs have to know the customer in detail so that they can assure that they are loyal to the company
information collection
___is the ability of an organization to collect, maintain and organize data
Business intelligence
sales data during an off season discount is an example of
business intelligence
____is applied to enable companies to make better strategic decisions
business intelligence
____will change the way people interact
smart mobility
smartphones are an example of?
smart mobility
the word __ is used as a metaphor for the ___
cloud, internet
___are programs designed to support the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through it’s network of contacts.
Business incubation
how do incubators help start-ups get funding?
- connecting companies with angel investors
- working with companies to perfect venture-capitalist presentations and connecting them to venture capitalists
- assisting companies in applying for loans
- assisting companies in accessing govt agency business assistance grant programs
______are efforts to solve problems for others. therefore, entrepreneurs are problem solvers
entrepreneurial actions
when one solves a problem new ___is created
value
in the business world problem solvers take ___
risk (but often create value by solving a customer or market problem-this is the key to creating a profitable enterprise)
the need for social entrepreneurship is to overcome
- economic and financial crises
- social problems such as poverty and unemployment
those devices which are mobile and help in growth of business
Smart mobility
