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Technopreneurship > Group 1: Introduction > Flashcards

Group 1: Introduction Flashcards

1
Q

Plays a key role in any economy, using the skills and initiative necessary to anticipate needs and bringing good new ideas to market.

A

Entrepreneur

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2
Q

A set of skills that enable people to identify and make the most of opportunities, overcome and learn from setbacks, and succeed in a variety of settings.

A

Entrepreneurial Mindset

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3
Q

8 Skills of Entrepreneurial Mindset

A

1.Critical Thinking
2.Creativity & Innovation
3.Communication & Collaboration
4.Comfort with Risk
5.Initiative & Self-Reliance
6.Future Orientation
7.Opportunity Recognition
8.Flexibility & Adaptability

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4
Q

The capacity to apply higher-level, process-oriented thinking, consider an issue from a range of possible perspectives, and use that reasoning to make decisions.

A

Critical Thinking

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5
Q

The ability and willingness to change actions and plans to overcome present and future challenges.

A

Flexibility & Adaptability

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6
Q

The ability to clearly express ideas to an intended audience, including persuading others to work towards a common goal

A

Communication and Collaboration

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7
Q

The capacity to move forward with a decision despite inevitable uncertainty and challenges.

A

Comfort with Risk

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8
Q

Strategies used when taking risks:

A

o Research
o Marketing
o Planning
o Testing and reporting

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9
Q

The power to take ownership of a project without input or guidance and work through obstacles independently.

A

Initiative & Self-Reliance

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10
Q

An optimistic disposition with a focus on obtaining the skills and knowledge required to transition into a career.

A

Future Orientation

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11
Q

The practice of seeing and experiencing problems as opportunities to create solutions.

A

Opportunity Recognition

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12
Q

The ability to think of ideas and create solutions to problems without clearly defined structures.

A

Creativity and Innovation

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13
Q

novel/ new/ original product, device, process, or concept.

A

Invention

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14
Q

Derived from the Latin verb innovare, which means “to renew”

A

Innovation

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15
Q

Involves applying new processes, introducing new techniques, or establishing successful ideas to create new value.

A

Innovation

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16
Q

the indispensable start-up ingredient all inventions and innovations need.

A

Ideas

17
Q

Starting point for any current or future entrepreneur.

A

Ideas

18
Q

What is Next after the Idea?

A
  1. Define Your Target Market
  2. Define Your Products and Services
  3. Define the Market for Your Business Idea
  4. Define Your Main Competitors
  5. Competitive Benchmarking
  6. Define Resources Required by Your Business Idea
  7. Calculate Your Startup Costs
  8. Calculate Costs of Goods Sold (COGS) and Operations Costs
  9. Develop Your Business Model
19
Q

A group of individuals working together to achieve their goal.

A

Team

20
Q

Creates a system to ensure that deadlines are met and that there’s high quality work

A

Team

21
Q

Tuckman’s Stages of Team Formation

A
  1. Forming
  2. Storming
  3. Norming
  4. Performing
  5. Adjourning
22
Q

Stage where a group of people comes together to accomplish a shared purpose

A

Forming

23
Q

The leader plays a dominant role at this stage because team members’ roles and responsibilities aren’t yet clear.

A

Forming

24
Q

Disagreement are constant at this stage of development since team members are still getting to know each other

A

Storming

25
Q

The leader’srole is to help the team get to know each other

A

Storming

26
Q

Members start to resolve their differences, appreciate colleagues’ strengths, and respect the authority of the leader

A

Norming

27
Q

The leader shall ask for periodic updates from the team and regularly check the team’s progress

A

Norming

28
Q

The stage at which the real work of the team is progressing

A

Performing

29
Q

The leader shall help solve problems and provide input as needed

A

Performing

30
Q

The ______ stage is becoming even more frequent with the advent of flexible organizations, which feature temporary groups.

A

Adjourning

31
Q

Forming a team takes time, and members often go through recognizable stages as they change from being a collection of strangers to a united group with common goals. One psychologist first came up withthe memorable phrase “forming, storming, norming, and performing” in his 1965 article, “Developmental Sequence in Small Groups.” Who is this psychologist?

A

Bruce Tuckman

32
Q

What is the other term for adjourning?

A

Mourning

33
Q

All of the following are the skills you need to work on when you are applying entrepreneurial mindset except…
A. Critical Thinking Skills
B. Communication and Collaboration
C. Recognizing Opportunities
D. Indecisiveness

A

D

34
Q

Which of the following is an example of service product?
A. Clothes
B. Foods
C. Consulting Firms
D. School Supplies

A

C

35
Q

Which of the following statements tells the importance of innovation?
A. Innovation hinders companies to grow.
B. Innovation keeps organizations relevant.
C. Innovation do not allow you to standout from other businesses.
D. Innovation make companies stagnant.

A

B

36
Q

It is defined as a coherent coalition of individuals who work cooperatively to accomplish common goals.

A

Team

37
Q

All of the statements are true about a team except:
A. A diverse team of people who can contribute ideas helps a company thrive
B. Collaboration within a group depreciates the quality of work.
C. A team creates a system to ensure that deadlines are met and that there’s high quality work
D. Members of a team feel a strong sense of belonging and deep commitment to each other and the common goal

A

B

38
Q

All of the following statements are true under Norming except:
A: Members start to resolve their differences, appreciate colleagues’ strengths, and respect the leader’s authority.
B: The leader shall ask for periodic updates from the team and regularly check the team’s progress
C: People develop a stronger commitment to the team goal.
D: There is a conflict between team members natural working styles.

A

D

Technopreneurship (9 decks)

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