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Entrepreneurship > Entrepreneurship as Innovation and Problem Solving > Flashcards

Entrepreneurship as Innovation and Problem Solving Flashcards

1
Q

What did the japanese do to keep the fish fresh?

A

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

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2
Q

the japanese’s love for the fish led to?

A

usage of bigger boats

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3
Q

the Japanese’s need for the fish led to?

A

Installation of freezers

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4
Q

the Japanese’s ability to taste fresh fish over frozen fish led to?

A

Installation of fish tanks

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5
Q

to improve the taste of fresh fish the japanese____

A

added shark to installed fish tank

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6
Q

For an entrepreneur, the main motivating factor which urges them to continue in their entrepreneurial pursuit is____

A

Challenge

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7
Q

Why are entrepreneurs called problem solvers?

A

Entrepreneurial actions are efforts to solve problems for others. thus, entrepreneurs are called problem solvers

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8
Q

who invented kfc and where?

A

colonel sanders. in a gas station (1930)

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9
Q

when was kellogg’s invented?

A

1906 (it was made available to general public)

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10
Q

who invented kellogg ?

A

Dr. John Harvey Kellogg and Will Keith Kellogg

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11
Q

___ and ___ are the distinguishing marks of an entrepreneur?

A

creativity(continuous activity for the entrepreneur) and innovation [both are habitual for an entrepreneur]

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12
Q

who invented penicillin?

A

Sir Alexander Fleming (scientist)

  • searching for a wonder drug that could cure diseases
  • he found it out only when he threw away his expmts
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13
Q

how was penicillin created?

A
  • 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.
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14
Q

who invented potato chips?

A 
George crum(chef at carey moon lake in sarotoga springs) 
-was going to make a plate of fried potato
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15
Q

how was potato chips created?

A
  • 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

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16
Q

Who invented the pacemaker?

A

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
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17
Q

how was pacemaker created?

A

while doing his expmts hopps realised if a heart stopped beating due to colling then it could be started again by artificial stimulation.

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18
Q

who invented microwave ovens?

A 
percy spencer (engineer)
-was conducting a radar-related research project with a new vacuum tube
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19
Q

how was the microwave oven invented?

A

-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

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20
Q

who invented ink-jet printers?

A

Ichiro Endo (canon engineer)

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21
Q

how were ink-jet printers invented?

A

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

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22
Q

who invented X-rays?

A 
Wilhelm Roentgen (physicist) 
-was interested in investigating cathode ray tubes
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23
Q

who was X-ray created?

A

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

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24
Q

“social entrepreneurship is which combines the passion of a social mission with an image of business like discipline, innovation and determination’ who said this?

A

J. Gregory Dees

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25
Q

“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?

A

Martin and Osberg

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26
Q

The social entrepreneur targets his/her programs at the_____

A

underserved, neglected or highly disadvantaged population that lacks the financial means or political clout to achieve the transformative benefit on its own

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27
Q

who is the founder of grameen bank?

A

Muhmmad Yunus

-2006 nobel peace prize

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28
Q

who found a solution to the plight of poor Bangladeshis who are unable to acquire funds to start their own business?

A

Muhammad Yunus

-solution-microcredit

29
Q

______________involves an extremely small loan given to an individual to help them become self-employed or grow a small business?

A

Microcredit

30
Q

who said “grameen bank sustained itself by charging interest on its loans and then recycling the capital to help other women”?

A

Martin and Osberg

31
Q

the success of ___in at Anand in Gujarat eventually led to the creation of various co-operative societies across the country

A

AMUL

(other examples:-saras in rajasthan

                        - mother diary in delhi 
                        - aarey in maharashtra)
32
Q

entrepreneur’s final objective is ____

A

wealth creation

33
Q

social entrepreneur’s final objective is____

A

social improvement

  • with created wealth -valuable social programs for the whole community
  • for him wealth creation is simply a means to an end
34
Q

the father of the white revolution? (operation flood)

A

Mr. Verghese Kurien

  • Padma Vibushan
  • Ramon Magsaysay
  • Krushi Ratna
35
Q

when was the National Diary Development board (NDDB) created?

A

1965

36
Q

what was the biggest problem faced by the NDDB?

A
  • 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
37
Q

who set up Gujarat Co-operative milk Marketing Federation (GCMMF)-an individual marketing unit of Amul and when?

A

Verghese Kurien, 1973

38
Q

what did Verghese Kurien do to pass on gained knowledge to future generations and to place rural India in the the map of India?

A

founded IRMA-Institute of Rural Management Anand, 1979

39
Q

_____is the largest milk producing country

A

India

40
Q

why is social entrepreneurship needed?

A

to mitigate the financial repercussions among vulnerable-J Gregory Dees

41
Q

Characteristics of Social Entrepreneurs

A 
Social Catalysts 
Socially aware 
Opportunity-seeking 
Innovative 
Resourceful 
Accountable
42
Q

“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?

A

Social catalyst

43
Q

success of social entrepreneurs is measured by their _____, not by the amount of profits generated

A

social impact

44
Q

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?

A

Opportunity-seeking

45
Q

creativity and willingness to think outside the box. which characteristic of social entrepreneur?

A

Innovation

46
Q

visions are not limited by resources. which characteristic of social entrepreneur?

A

Resourceful

47
Q

founder of ‘bhuddan andolan’ (land gift movement)

A

Vinoba Bhave

-caused redistribution of more than 7000000 acres of land to aid India’s untouchables and landless

48
Q

Who started the self-emploed women’s association?

A

Ela Bhatt, 1972

-trade union of poor, unorganised, self-employed women who work as vendors, hawkers and labourers

49
Q

who founded george foundation? and when was it established?

A

Dr. Abraham M. George
Jan 1995, Bangalore
-mission-work towards poverty eradication, promote environmental health, strengthen democratic institutions and values in developing countries

50
Q

who is the founder of AMUL Dairy Project

A

Dr. Verghese Kurien

51
Q

who is the founder of barefoot college?

-promotes rural development through innovative education programs

A

Bunker Roy

52
Q

founder of jaipur rugs?

-promotes rural development through capacity building of rural people in carpet weaving

A

Nand Kishore Chaudary

53
Q

founder of selco(solar electric light company-1995) India?

A

Harish Hande

-Magsaysay Award Winner 2011

54
Q

India’s leading solar technology firm

A

Selco India

55
Q

who were the first group to be recognised under sewa?

A

garment workers formed their own co-operative.

-these so-operatives were formed with the shared capital provided by the women

56
Q

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

A

information collection

57
Q

___is the ability of an organization to collect, maintain and organize data

A

Business intelligence

58
Q

sales data during an off season discount is an example of

A

business intelligence

59
Q

____is applied to enable companies to make better strategic decisions

A

business intelligence

60
Q

____will change the way people interact

A

smart mobility

61
Q

smartphones are an example of?

A

smart mobility

62
Q

the word __ is used as a metaphor for the ___

A

cloud, internet

63
Q

___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.

A

Business incubation

64
Q

how do incubators help start-ups get funding?

A
  • 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
65
Q

______are efforts to solve problems for others. therefore, entrepreneurs are problem solvers

A

entrepreneurial actions

66
Q

when one solves a problem new ___is created

A

value

67
Q

in the business world problem solvers take ___

A

risk (but often create value by solving a customer or market problem-this is the key to creating a profitable enterprise)

68
Q

the need for social entrepreneurship is to overcome

A
  • economic and financial crises

- social problems such as poverty and unemployment

69
Q

those devices which are mobile and help in growth of business

A

Smart mobility

Entrepreneurship (3 decks)

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