ETEM QUIZ Flashcards by Drhae Palomo

A _____ is a belief that qualities like intelligence and talent are fixed or changeable traits.

Mindset

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The word mindset was coined by _______ in her book “Mindset”, that was based from her research about personalities of successful people.

Carol Dweck

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She found out that that successful people have different mindsets which are a _____________.

fixed growth mindset

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A fixed mindset sees the world in a “____/__” perspective.

either/or

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People with a _____ perceive that their talent and abilities are set.

fixed mindset

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For people with fixed mindset, success is based on ____ or possibly from sort of ____________. They always want to avoid challenges, failure and tell themselves they do not have expertise.

luck or possibly from sort of prejudicial advantage

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People with a fixed mindset believe that these qualities are ____, ____, and __________.

inborn, fixed, and unchangeable.

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People with __________ a perceive that their talent and abilities are set. A fixed mindset sees the world in a “either/or” perspective.

fixed mindset

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People with a growth mindset trusts that traits can be ____, _________ and ___________ by _______________.

changed, developed and strengthened by working on them.

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People with a ________ trusts that traits can be changed, developed and strengthened by working on them.

growth mindset

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These people are certain that their abilities could be developed by __________, _____________ and obviously _________.

commitment, determination and obviously hard work.

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CHARACTERISTICS OF AN ENTREPRENEURIAL MINDSET

Curiosity
Commitment
Optimism
Flexibility
Ownership
Leadership
Connection
Self-respect

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Being curios is really shared among successful entrepreneurs. ______ leads to questions, and questions lead to answers.

Curiosity

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This is continuing to keep going and persist amidst problems.

Commitment

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Tough attitude towards challenges makes up successful entrepreneurs. Every time a situation happens, the entrepreneur should be hopeful in exploring its many learning opportunities.

Optimism

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entrepreneurship is a challenging field with its unpredicted demands and continuous problems. It helps to be supple to deal with a series of difficult situations, solve problems easily and make progress from obstacles.

Flexibility

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Successful entrepreneurs always trust that their success comes from their own ability. Simply they have high internal locus of control.

Ownership

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A successful entrepreneur always guides, motivates and empowers his team.

Leadership

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in the entrepreneurship creating a network is very important. Entrepreneurs must choose those people that would form his collective links so that he could breed his idea.

Connection

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In business, it is also vital to take care the body, mind and spirit. Taking care of oneself daily through rest, exercise and diet is essential.

Self-respect

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ESSENTIAL OF THE ENTREPRENEURIAL MINDSET

Passion first
Everything is possible
100% accountable
We are connected
Live life to give

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Real entrepreneurs look for what really are important to them, what they truly wanted to, and then bring together their business around those things.

Passion first

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this mindset is about believing that entrepreneurs are capable of accomplishing unexpected results. They trust that an idea could be possible to become into reality. .

Everything is possible

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In life it is easier to blame others especially when things become out of hand. Entrepreneurs always believe that they have the power to choose their responses to any circumstances because they have this __________ mindset.

100% accountable

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Entrepreneurs believe they can achieve their dreams. Not by being alone though they love to be independent. They wanted to lead by helping other people to do their tasks and fulfil their dreams without seeking anything in return

We are connected

_____ can be acquired using "habit loop”.

Good habits

____ is an unconscious behaviour done often and regularly

Habit

Most of the people now especially business people wanted to offer their time and resources for a valuable cause. As people in business profit more, they tend to give more. This is known today as corporate social responsibility.

Live life to give

This ______ is a process wherein the brain makes decision whether to store or repeat such behavior.

habit loop

_______ is most likely repeated.

Rewarded behaviour is most likely repeated.

The book of authors __________entitled “Self-Leadership- How to Become a More Effective, and Efficient Leader from the Inside Out” contains the definition of self-leadership.

Bryant and Kazan

Three habits that required most to be nurtured and be practiced for an entrepreneurial mindset.

THE SELF-LEADERSHIP HABIT THE CREATIVITY HABIT

Self-Leadership is related to

optimism, happiness, consciousness and emotional intelligence.

Self-leadership needs the implementation of three important strategies

1. Behavior-focused 2. Natural Reward 3. Constructive Thought

this strategy concerns enhancing self-awareness to manage behavior especially when dealing with essential but not so good task.

Behavior-focused

Ways to accomplish Behavior-focused strategy

a) Self-Observation b) Self-Goal Setting c) Self-Reward d) Self-Punishment

this increases the consciousness of how, when and why entrepreneurs behave the way they do in some situation.

Self-Observation

this concern the process of planning goals of entrepreneurs.

Self-Goal Setting

this is about paying oneself after accomplishing the set goals with either tangible or intangible rewards.

Self-Reward

this allowing entrepreneurs to evaluate their behavior in order

Self-Punishment

this is about making list and notes or writing motivation posters as reminders of the planned goals.

Self-Curing

this is about making every task enjoyable by emphasizing the positive aspects of each task and its importance.

Natural Reward

this means creating positive and productive means of thinking that are advantageous to the performance of entrepreneurs.

Constructive Thought

Is the capacity of turning fresh ideas, insights, inventions, products or artistic of each objects that are considered to be unique, useful and value to others into reality.

Creativity

Is a means to generate profits by creating unique, innovative and desirable products or services which are not being found in the market yet.

Opportunity

structured strategies in forming ideas:

1. Analytical 2. Search 3. Imagination-Based 4. Habit 5. Relationship-Seeking 6. Development-

this is about breaking a problem into details or looking at a problem in a common way to produce ideas on improving or innovating products or services. Only when thought analytically that correlation of problems is seen.

Analytical

this involves linking personal experiences that are significant to the existing problem. This also illustrates the ability to be resourceful in looking for connection between objects that appears to have no obvious relationship at first.

this is interrupting doubts and dropping restrictions to produced fantasies or make-believe situations. Sometimes, entrepreneurs need to be playful in their minds so that they can think of ways that are impossible.

Imagination-Based

Breaking- sometimes, the human mind needs to depart from usual patterns to stimulate creative insights.

Habit

this is establishing a link between concepts that are not usually connected. The intention here is to fuel the mind into making connectivity that seems to be unnoticed.

Relationship-Seeking

this employs the modification of existing concepts to make improved choices and new potential. One way to do this is to brainstorm.

Development

this needs interaction with a group to generate ideas. Brainstorming is also commonly used to highlight creativity towards new opportunity.

Interpersonal

Four Pathways to Opportunity Identification

1. FIT 2. VALUEABLE 3. RARE 4. EXPENSIVE

means the skill and knowledge of the entrepreneur match the current opportunity.

FIT

considers the need of the market.

VALUEABLE

considers the offer to be unique that it does not exist in the market.

RARE

is an entry barrier for the most entrepreneurs who wanted to Start a business

EXPENSIVE TO COPY

Pathways towards the identification of opportunity

1. Find Pathways 2. Search Pathways 3. Effectuate Pathway 4 Design Pathway

this pathway assume that opportunities exist independent of entrepreneurs and are waiting to be found. An opportunity is found when the entrepreneur sees a clear problem and develops a solution.

Find Pathways

used when entrepreneurs are not quite definite what type of business they want to jump in. They engage in an active search to discover new opportunities. Everyone has certain information sets or knowledge bases.

Search Pathways

use the skill, knowledge and abilities to unearth an opportunity that suits him. Opportunity come from the experiences abilities, network and entrepreneur’s confidence to make action especially during times of uncertainty.

Effectuate Pathway

most difficult yet the most-value creating pathway. By forcing on the unsatisfied need of the market particularly the latent ones, the entrepreneur is able to discover valuable opportunities.

Design Pathway

in reality information is everywhere. Information are just waiting to be discover. Alertness refers to the ability to easily pinpoint opportunities in the environment.

ALERTNESS

Is the information gathered from the combined life and work experiences. Studies show that entrepreneurs that have knowledge about industry and market in combination with the board network are able to recognize better the opportunities around them.

PRIOR KNOWLEDGE

refers to identifying relationship between seemingly isolated things or occasions. This recognition happens when people make connections of dots to pinpoint and create opportunities.

PATTERN RECOGNITION

The _________is an ideation process empirically proven to help budding entrepreneurs recognize problems, cultivate solution, and choose the best creative entrepreneurial idea.

IDEATE Method

identifying problems that customers are trying to solve, but still unsolved to the satisfaction of customers. This also about identifying solutions to this problems.

Identify

actively searching for ideas in problem-rich environment where there is social and demographics change, political and regulatory change or change in the industry structure.

Discover

studying change and analysing future scenarios as they relate to social technological, and other global changes and trends

Anticipate

taking the ideas and expanding to new application or adding innovative twist. Or simply enhancing existing ideas.

Enhance

defining and understanding a particular target market validating new ideas with early adopter.

Target

testing the solution and assessing the process.

Evaluate