Entreprenurship Flashcards

1
Q

In a corporation or any huge companies, develops the idea,
fieldwork, and executes the idea. Graduates with entrepreneurial degrees are highly
recommended in this job opportunity.

A

Mid-level Management

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2
Q

An entrepreneur does consultation of a client onsite, identify problems, and provide the
best solution to the problems on what a business is looking for.

A

Business Consultant

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3
Q

Entrepreneurship graduates can work in for they know how to represent the
company, manage accounts, and follow up on leads to whom they are working for.

A

Sales

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4
Q

Having an entrepreneurship background with corresponding training and education on
the understanding of business concepts, procedures, and practices are some of the good
qualities an employer is looking for in research on development position.

A

Research on Development

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5
Q

Another factor that a business must possess is building networking relationships. In
order to do so, some businesses or companies are having a charity ball or auctions to raise
funds while meeting other businesses’ or the company’s owner or representatives.

A

Not-for-profit fundraiser

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6
Q

For those with entrepreneurship degrees, they are qualified to teach core subjects and
entrepreneurship in Senior High School most especially in the Accountancy, Business, and
Management (ABM) Track.

A

Teacher

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7
Q

Students who graduated and took the course like cover operations management,
leadership, and entrepreneurship degree are most likely have a keen sense on whom to
choose in a particular position needed to be filled.

A

Recruiter

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8
Q

Entrepreneurship graduates can write articles, or pick up a quick class to learn how to
write an article, for they already have background knowledge of how the business works.
Understanding the concepts, terms, and flow of business can be used to catch the readers’
attention.

A

Business Reporter

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9
Q

Entrepreneurship allows us to recognize the opportunity to attract the customers to buy
our products. Artists showcase their talent in creating artworks such as paintings and
sculptures.

A

Artist

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10
Q

The most important thing is to have an “entrepreneurial mentality” before he/she really
monetize or make money out of photography. A freelance photographer could offer cheaper
rather than in an actual studio itself.

A

Photographer

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11
Q

Entrepreneurship is about selling your products or services to the community and even
catch the attention of your potential customers.

A

Fashion Designer

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12
Q

There will be a time that a vehicle needs a repair and sending it to the inhouse car
repair shop where you purchased your car, might be expensive.

A

Automotive Mechanic

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13
Q

Each company must have a data analytics that they must apply in accordance to the
company’s needs. Through knowing these elements in their entirety, you will start finding
areas of opportunity within your data analytics program.

A

Data Analyst

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14
Q

are offered in the market by combining products, services,
information, or experiences in order to satisfy the needs or wants of a customer. While
marketing myopia,

A

Market offerings

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15
Q

to someone in order to achieve or acquire
an object you want to have or desire.

A

Exchanges and Relationships

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16
Q

some of the factors in selecting customer to serve:

A

Market Segmentation, Target Marketing, Demographic Segmentation

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17
Q

Building Customer Relationships

A

Customer Relationship Management (CRM), The Changing Nature of Customer Relationships, Partner relationship management,

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18
Q

delivering greater value and satisfaction to the customers by building and
maintaining profitable customer relationships

A

Customer Relationship Management (CRM)

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19
Q

-Companies are building much deeper, more direct, and long-term
commitment to those carefully selected customers.

A

The Changing Nature of Customer Relationships

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20
Q

-In order to attract more valuable customers, marketers must work closely
with others inside and outside of the company.

A

Partner relationship management

21
Q

A tool used to analyze and improvise the internal and external factors that could affect your business.

A

SWOT Analysis

22
Q

SWOT

A

S-Strengths
W-Weaknesses
O-Opportunities
T-Threats

23
Q

This allows the entrepreneur to see things in a
very positive and optimistic way in the midst of difficult situation.

A

Entrepreneurial mind frame

24
Q

Entrepreneurs are driven by passion; they are
attracted to discover satisfaction in the act and process of discovery.

A

Entrepreneurial heart flame

25
Q

This refers to the ability of the entrepreneur of
being intuitive. This also known as intuition.

A

Entrepreneurial gut game.

26
Q

Climate, natural resources, wildlife.

A

Physical Environment

27
Q

Political, economic, sociocultural, technological factors.

A

Societal Environment

28
Q

Competitors, customers, creditors, employees, government, suppliers.

A

Industry Environment

29
Q

People’s hobbies, preferences, and interests can inspire entrepreneurial ideas.

A

People’s Interests

30
Q

Skills and expertise developed in a particular field can lead to related business ventures.

A

Past Experiences

31
Q

Bargaining power of buyers is strong if there are few suppliers, high switching costs, or if the product represents a significant portion of the buyer’s costs.

A

Buyers

32
Q

Supplier threat is strong if there is limited availability of supplies, high switching costs, and unique products or services.

A

Suppliers

33
Q

it is the act or process of trying to get or win something.

A

Competition

34
Q

can be defined as the steps taken in order to begin a new
enterprise. It is a step-by-step method one has to follow to set up a business.

A

Entrepreneurial process

35
Q

is a business or marketing statement that summarizes why a consumer should buy a company’s product or use its service.

A

Value Proposition (VP)

36
Q

basic elements

A

Target Customer
Needs/opportunity
Name of the product
 Name of the enterprise/company

37
Q

refers to how you sell your product
or services to your customer. You will address the wants and desires of your
customers.

A

Unique Selling Proposition (USP)

38
Q

the total market is divided according to geographical
location.

A

Geographic segmentation

39
Q

Variables to consider

A

Climate
b. Dominant ethnic groupc. Culture
c. Culture
d. Density (either rural or urban)

40
Q

divided based on consumers

A

Demographic Segmentation

41
Q

Variables to consider demographic

A

a. Gender
b. Age
c. Income
d. Occupation
e. Education
f. Religion
g. Ethnic group
h. Family size

42
Q

divided in terms of how customers think and
believe

A

Psychological Segmentation

43
Q

Variables to consider
psycho

A

a. Needs and wants
b. Attitudes
c. Social class
d. Personality traits
e. Knowledge and awareness
f. Brand concept
g. Lifestyle

44
Q

divided according to customers’ behavior pattern as
they interact with a company.

A

Behavioral Segmentation

45
Q

Variables to consider
behavioral

A

a. Perceptions
b. Knowledge
c. Reaction
d. Benefits
e. Loyalty
f. Responses

46
Q

Intangible aspects like service quality, on-time delivery, and customer interaction.

A

Service Requirement:

47
Q

Tangible specifications visible in the product, such as specific features, loudness, clarity, etc.

A

Output Requirement

48
Q

The approximate number of sellers and buyers in a particular market. Determined through strategic marketing research, estimating potential customers, considering market share, and analyzing competitors.

A

Market Size