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Entrepreneurship > Intro to Entrepreneurship > Flashcards

Intro to Entrepreneurship Flashcards

1
Q

entrepreneurs making do by applying combinations of the resources at hand to new problems and opportunities

A

bricolage

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2
Q

a process that starts with a desired outcome and focuses on the means to generate that outcome

A

causal process

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3
Q

describes the extent to which entrepreneurs are dynamic, flexible, self-regulating, and engaged in the process of generating multiple decision frameworks focused on sensing and processing changes in their environment and then acting on them

A

cognitive adaptability

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4
Q

questions designed to increase entrepreneurs’ understanding of the nature of the environment

A

comprehension question

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5
Q

tasks designed to stimulate entrepreneurs to think about the current situation in terms of similarities to and differences from situations previously faced and solved

A

connection tasks

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6
Q

a process that starts with what one has (who they are, what they know, and whom they know) and selects among possible outcomes

A

effectutation process

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7
Q

action through the creation of new products/ processes and/ or the entry into new markets, which may occur through a newly created organization or within an established organization

A

entrepreneurial action

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8
Q

the motivational factors that influence individuals to pursue entrepreneurial outcome

A

entrepreneurial intentions

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9
Q

involves the ability to rapidly sense, act, and mobilize, even under uncertain conditions

A

entrepreneurial mindset

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10
Q

those situations in which new goods, services, raw materials, and organizing methods can be introduced and sold at greater than their cost of production

A

entrepreneurial opportunities

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11
Q

the conviction that one can successfully execute the entrepreneurial process

A

entrepreneurial self-efficacy

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12
Q

individuals’ mental processes of overcoming ignorance to decide whether a signal represents an opportunity for someone and/or reducing doubt as to whether an opportunity for someone is also an opportunity for them specifically, and/or processing feedback from action steps taken

A

entrepreneurial thinking

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13
Q

individuals who give psychological support to an entrepreneur

A

moral support network

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14
Q

the degree to which an individual has a favorable or unfavorable evaluation of the potential entrepreneurial outcomes

A

perceived desirability

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15
Q

individuals who help the entrepreneur in business activities

A

professional support network

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16
Q

task designed to stimulate entrepreneurs to think about their understanding and
feelings as they progress through the entrepreneurial process

A

reflection task

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17
Q

individuals whose example an entrepreneur can aspire to and copy

A

role models

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18
Q

tasks designed to stimulate entrepreneurs to think about which strategies are appropriate for solving the problem (and why) or pursuing the opportunity (and how)

A

strategic task

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19
Q

exist when the underlying mechanisms of the technology resemble (or match) the underlying mechanisms of the market

A

structural similarities

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20
Q

exist when the basic (relatively easy to observe) elements of the technology resemble (match) the basic (relatively easy to observe) elements of the market

A

superficial similarities

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21
Q

entrepreneurship focused on preserving nature, life support, and community (sustainability) in the pursuit of perceived opportunities to bring future products, processes, and services into existence for gain (entrepreneurial action) where gain is broadly construed to include economic and noneconomic benefits to individuals, the economy, and society (development)

A

sustainable entrepreneurship

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22
Q

past work experience of an individual

A

work history

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23
Q

begin at the nexus of a lucrative opportunity and an enterprising individual

A

entrepreneurial actions

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24
Q

An entrepreneurial opportunity could stem from (3)

A

new market
new product for an existing market
new product for a new market

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25
Q

model that explains how knowledge and motivation influence two stages of entrepreneurial action

A

McMullen-Shepherd model

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26
Q

stage 1 of mcmullen-shepherd model

A

realization of an opportunity exists for someone

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27
Q

stage 2 of mcmullen-shepherd model

A

determining whether it is an opportunity for themselves

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28
Q

acting on and pursuing the identified opportunity

A

entrepreneurial thinking

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29
Q

sometimes make decision in highly uncertain environments with high stakes and immense time pressures

A

entrepreneur

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30
Q

They need to think structurally, engage in bricolage, effectuate, and cognitively adapt

A

entrepreneur

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31
Q

often requires creative mental leaps launched from the entrepreneur’s existing knowledge

A

forming opportunity beliefs

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32
Q

Superficial similarities and structural similarities between the ____ (e.g. the market) and the ____ (e.g. technology) help the
entrepreneur make these creative mental leaps

A

source, destination

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33
Q

The challenge often lies in making creative _____ _____ based on structural similarities – when the technology matches the market

A

mental leaps

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34
Q

often lack resources

A

entrepreneurs

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34
Q

refers to existing resources and experimenting, tinkering, repackaging, and/or reframing them to be used in a way they were not originally designed or conceived

A

bricolage

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34
Q

The process of “making do”, entrepreneurs can create opportunities

A

bricolage

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34
Q

They often sometimes seek resources from others to provide the slack necessary to experiment and generate entrepreneurial opportunities or engage in bricolage

A

entrepreneurs

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35
Q

a causal process involves thinking of a desired outcome and then coming up with a plan to achieve that outcome

A

effectuation

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36
Q

process looks at what a person has and then selects from several possible outcomes

A

effectuation

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37
Q

Allows entrepreneurs to think in a highly uncertain environment

A

effectuation

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38
Q

Most managers need to take an ______ _______

A

entrepreneurial mindset

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39
Q

➢To develop this mindset, managers must:
▪ Attempt to make sense of ______
▪ Constantly question their ______ logic
▪ Revisit what they think true about ____ and ____

A

opportunities
dominant
markets and firms

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40
Q

To be good at effectuation, you must have ____

A

cognitive adaptability

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41
Q

The extent entrepreneurs are dynamic, flexible, self-regulating and engaged in sensing and acting on changes in their ___

A

environment

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42
Q

Reflected in an entrepreneur’s ability to reflect upon, understand, and control their ___ and ___

A

thinking and learning

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43
Q

Learn to be more cognitive by asking questions in four areas:

A

comprehension questions
connection tasks
strategic tasks
reflection tasks

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44
Q

Those able to increase cognitive adaptability can adapt to new situations, be creative, and communicate their ____

A

reasoning

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45
Q

Entrepreneurial action is most often ____

A

intentional

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46
Q

When actions are feasible and desirable, there are stronger/weaker intentions to act

A

stronger

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47
Q

refers to the conviction that one can successfully execute the behavior required

A

entrepreneurial self-efficacy

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48
Q

refers to an individual’s attitude toward entrepreneurial action

A

perceived desirability

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49
Q

The degree to which the entrepreneur has a favorable or unfavorable evaluation of the potential entrepreneurial outcomeso

A

perceived desirability

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50
Q

Entrepreneur background and characteristics (5)

A

education
age
work history
role model
networks

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51
Q

broad knowledge allows for the discovery of potential opportunities and assists adaptability

A

education

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52
Q

Provides transferable knowledge, skills, and problem solving abilities

A

education

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53
Q

entrepreneurial age reflects the entrepreneur’s experience

A

age

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54
Q

Most entrepreneurs are between 22 and 45 when starting their career

what characteristics

A

background

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55
Q

plays a role in growth and success of a new venture

A

work history

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56
Q

Experience in financing, product development, manufacturing, distribution, and marketing are
particularly important

what characteristics

A

work history

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57
Q

Can be relatives or successful community entrepreneurs

A

role model

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58
Q

Can serve as mentors before and after launch of the venture

A

role model

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59
Q

As ____ expand, they form a network with density and centrality

A

contacts

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60
Q

The entrepreneur should establish a moral-support network of family and friends

true or false

A

true

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61
Q

The entrepreneur also needs advice and counsel obtained from members of a professional-support network

true or false

A

true

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62
Q

entrepreneurial activity is embedded in networks of interpersonal relationships

A

networks

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63
Q

entrepreneurial action can both sustain and develop

A

sustainable entrepreneurship

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64
Q

focused on preserving nature, supporting life and community in the pursuit of opportunities to bring future products and services into existence for gain

what type of entrepreneurship

A

sustainable entrepreneurship

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65
Q

those with greater/lesser knowledge of the natural environment are more likely to notice changes in the environment that form opportunities

A

greater

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66
Q

can generate economic wealth for themselves, but their impact on development can be far greater

A

entrepreneurs

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67
Q

they can generate economic, environmental, and social gains for others including job opportunities or revenues for the government

A

entrepreneurs

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68
Q

could be reduced air pollution, increased drinking-water quality, and other improved living conditions

A

environmental gains

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69
Q

include improved child survival rates, longer life expectancy, superior education, equal opportunity, and so on.

A

social gains

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70
Q

type of entrepreneur

create scalable businesses over short time frame

A

builder

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71
Q

type of entrepreneur

▪build strong infrastructure
▪hiring best talent
▪seeking best investor

A

builder

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72
Q

type of entrepreneur

financial opportunities, get in the right time, stay on board during growth

A

opportunist

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73
Q

type of entrepreneur

▪
exit when the business reach its peak
▪
profit and wealth builders

A

opportunist

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74
Q

type of entrepreneur

rare individuals who create new business ideas or product

A

innovator

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75
Q

type of entrepreneur

imparts of their products and services to society

A

innovator

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76
Q

type of entrepreneurship

analytical and risk averse, skill obtain from education or apprenticeship

A

specialist

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77
Q

type of entrepreneur

networking, referrals, resulting to slower growth than a builder entrepreneur

A

specialist

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78
Q

offers products and services that benefit its customers, understanding of their industry, target market, runs the business or having support from other professionals, profit is their source of income

A

business owners

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79
Q

starts a business based on an original idea for a product or service

A

entrepreneur

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80
Q

➢seeks support from investor or suppliers
➢they support themselves from a different income
➢innovation (new product and services)
➢takes time to be profitable
➢heavy advertisement

entrepreneur or business owner

A

entrepreneur

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81
Q

those situations in which new goods, services, raw materials, and organizing methods can be introduced and sold at a greater than their cost of production

A

entrepreneurial opportunities

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82
Q

action through the creation of new products/processes and/or the entry into new markets, which may occur through a newly created organization or within an established organization

A

entrepreneurial action

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83
Q

individuals’ mental processes of overcoming ignorance to decide whether a signal represents an opportunity for someone and/or reducing doubt as to whether an opportunity for someone is also an opportunity for them specifically, and/or process feedback from action steps taken

A

entrepreneurial thinking

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84
Q

attention stage of the entrepreneurial action figure has what parts (3)

A

knowledge: prior knowledge
motivation: personal strategy
third-person opportunity

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85
Q

evaluation stage: action specific uncertainty 3 parts

A

knowledge: feasibility assessment
motivation: desirability assessment
entreprenurial action: first person opportunity

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86
Q

resourceful way of thinking and behaving that represents an important source of entrepreneurial opportunities

A

bricolage

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87
Q

desired outcome and focuses on the means to generate that income

A

effectuation

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88
Q

describes the extent to which entrepreneurs are dynamic, flexible, self-regulating, and engaged in the process of generating multiple decision frameworks focused on sensing and processing changes in their environment and then acting on them

A

cognitive adaptability

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89
Q

myths on entrepreneurship (7)

A

*entrepreneurs are born, not made
*entrepreneurs are always inventors
*entrepreneurs are academic and social misfits
*entrepreneurs must fit the profile
*all entrepreneur need is money
*all entrepreneur need is luck
*entrepreneurs are extreme risk takers

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90
Q

the study of entrepreneurship is a collaboration of ___ , ____ , and other social ____

A

economists
psychologist
scientist

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91
Q

identified the role of entrepreneur in the economy

A

Richard Camilton

92
Q

entrepreneurs work on uncertain wages, whether they establish with our without capital

according to whom

A

Richard Camilton

93
Q

three groups of economic agents:

A

landowners
entrepreneurs
hirelings

94
Q

play the role of connecting producers with consumers and the role of decision making in engaging markets to earn profits and struggles with uncertainty

A

entrepreneurs

95
Q

says entrepreneur is the outcome of capitalist investment decision

A

Jacques Turgot

96
Q

Capitalist entrepreneur

A

Jacques Turgot

97
Q

who said the function of entrepreneur as an innovator, thus brought invention and innovation into the discussion, emphasizing the ability to process knowledge and information

A

Nicholas Baudeau

98
Q

continued Turgot’s ideas and elevated the entrepreneur to a key figure in economic life

A

Jean Baptiste Say

99
Q

Identified tripartite division

A

Jean Baptiste Say

100
Q

tripartite division

A

philosopher who identifies theory,
creating useful products,
workman who supplies manual labor

101
Q

myth of entrepreneurs

➢Entrepreneurs are doers, not thinkers
➢Entrepreneurs are born, not made
➢Entrepreneurs are always inventors
➢Entrepreneurs are academic and social misfits
➢Entrepreneurs must fit the “profile”
➢All you need is money to be an entrepreneur
➢All you need is luck to be an entrepreneur
➢Ignorance is bliss for an entrepreneur
➢Entrepreneurs seek success but experience high failure rates
➢Entrepreneurs are extreme risk takers (gamblers)

A

familiarize

102
Q

french word for entrepreneurship

A

entre pendre

102
Q

entre pendre means

A

to undertake

103
Q

innovator or developer who recognizes and seizes opportunities; converts those opportunities into workable/marketable ideas; adds value through time, effort, money, or skills; assumes the risks of the competitive marketplace to implement these ideas; and realizes the rewards from these efforts

A

entrepreneur

104
Q

characteristics of entrepreneur (7)

A

1.Personal initiative
2.Management skills
3.A tendency toward autonomy and risk taking
4.Competitive
5.Goal-oriented behavior
6.Aggressiveness
7.Ability to employ human relations skills

105
Q

No single definition of entrepreneur exists

true or false

A

treu

106
Q

Recognition of entrepreneurs dates back to (when), (where)?

A

eighteenth century
france

107
Q

Until 1950, the majority of definitions and references came from whom

A

economists

108
Q

who said, “Entrepreneurship is the dynamic process of creating incremental
wealth”

A

Robert C Ronstadt

109
Q

In the present day, entrepreneur has become closely linked with free enterprise and ___

A

capitalism

110
Q

Entrepreneurs serve as agents for change, provide creative, innovative ideas for business enterprise, and help businesses grow and become profitable

true or false

A

true

111
Q

Entrepreneurs are considered guests of free enterprise

A

false

112
Q

Many people regard entrepreneurship as “_____” on the frontier of business

A

pioneership

113
Q

Entrepreneurs are doers, not thinkers

why is this not true?

A

1Entrepreneurs have a tendency toward action, but they are also thinkers
2. Emphasis today is on the creation of clear and complete business plan

114
Q

entrepreneurs are born, not made

why is this not true

A
  1. traits include aggressiveness, initiative, drive, willingness to take risks, analytical ability, and skill in human relations
  2. entrepreneurship has models, processes, and case studies that allow the traits to be acquired
115
Q

entrepreneurs are always investors

why is this not true

A
  1. this is a result of misunderstanding and tunnel vision
    2.many investors or innovators are also entrepreneurs
  2. numerous entrepreneurs encompass all sorts of innovative activities
116
Q

entrepreneurs are academic and social misfits

why or why not?

A
  1. this myth results from people who have started successful enterprises after dropping out of school or quitting a job
  2. historically, education and social organizations did not recognize the entrepreneur
  3. the entrepreneur is now viewed as a professional
117
Q

entrepreneurs must fit the “profile”

why or why not

A
  1. many books and articles have presented checklists of characteristics of the successful entrepreneur
  2. the environment, the venture itself, and the entrepreneur have interactive effects, which result in many different profiles
118
Q

All you need is money to be an entrepreneur

why or why not?

A

1.Venture needs capital to survive
2.A large number of business failures occur because of lack of adequate financing
3.Failure due to lack of financing indicates other profblems
a.Managerial incompetence
b.Lack of financial understanding
c.Poor investments
d.Poor planning

119
Q

Failure due to lack of financing indicates other problems (4)

A

managerial incompetence
lack of financial understanding
poor investments
poor planning

120
Q

All you need is luck to be an entrepreneur

why/why not?

A

1.Being in the right place at the right time is always an advantage
2.Luck happens when preparation meets opportunity
3.What appears to be luck could really be several factors
a.Preparation
b.Determination
c.Desire
d.Knowledge
e.Innovativeness

121
Q

H.
Ignorance is bliss for an entrepreneur
r

A

1.
Key factors in successful entrepreneurship
a.
Identifying the strengths and weaknesses of a venture
b.
Setting up clear timetables with contingencies for handling problems
c.
Minimizing problems through careful strategy formulation
2.
Careful planning is the mark of an accomplished entrepreneu

122
Q

I.
Entrepreneurs seek success but experience high failure rates

A

1.
Many entrepreneurs suffer a number of failures before they are successful
2.
Failure can teach many lessons to those willing to learn and often leads to future
success

123
Q

J.
Entrepreneurs are extreme risk takers (gamblers)

A

1.
The concept of risk is a major element in the entrepreneurship process, while it may appear that an entrepreneur is “gambling” on a wild chance, the fact is that the entrepreneur is usually working on a moderate or “calculated” risk

124
Q

view of entrepreneurial thought that presents a broad array of factors that relate to success or failure in contemporary entrepreneurial ventures

A

macro view

125
Q

school of thought that deals with the external factors that affect a potential entrepreneur’s lifestyle

A

environmental school of thought

126
Q

entrepreneurial school of thought that Focuses on institutions, values, and morals

A

environmental school of thought

127
Q

deals with the search for seed capital and growth capital

A

financial capital school of thought

128
Q

school of thought that Views the entire entrepreneurial venture from a financial management standpoint

A

financial capital school of thought

129
Q

holds that the group hinders a person from advancing or eliminates certain factors needed to advance; the individual is projected into entrepreneurship to succeed

A

displacement school of thought

130
Q

three major types of displacement

A

political displacement
cultural displacement
economic displacement

131
Q

deals with the government’s policies and regulations

A

political displacement

132
Q

deals with social groups precluded from professional fields

A

cultural displacement

133
Q

deals with economic variations of recession and depression

A

economic displacement

134
Q

examines the factors that are specific to entrepreneurship (what view)?

A

micro view

135
Q

holds that the potential entrepreneur has the ability to control or direct or adjust the outcome of each major influence

A

micro view

136
Q

schools of thought in micro view:

the study of successful people who tend to exhibit _____ characteristics that would increase successful opportunities

A

similar

137
Q

four factors usually exhibited by successful entrepreneurs (acdt)

A

achievement
creativity
determination
technological knowledge

138
Q

focuses on the nurturing and support that exists within the home atmosphere

A

family development idea

139
Q

the search for sources of ideas, the development of concepts, and the implementation of venture
opportunities

what school of thought

A

venture opportunity

140
Q

views creativity and market awareness as essentials

what school of thought

A

venture opportunity

141
Q

deals with the ability to recognize new ideas and opportunities and to implement the necessary steps of actions

what school of thought

A

venture opportunity

142
Q

emphasizes the planning process in successful venture development

what school of thought

A

strategic formation of school of thought

143
Q

four major factors in considering strategic formation

A

unique market
unique people
unique products
unique resources

144
Q

the field of entrepreneurship uses a number of theories in its growth and development

what school of thought

A

strategic formation of school of hthought

145
Q

the integrative approach, entrepreneurial assessment approach, multidimensional approach

A

process approaches

146
Q

focuses on and includes three factors (inputs, outputs, entrepreneurial intensity)

A

integrative approach

147
Q

focuses on the entrepreneur, the venture, and the environment

A

entrepreneurial assessment

148
Q

assessments are made qualitatively, strategically, and ethically

A

entrepreneurial assessment

149
Q

early, middle, or late – is also considered

A

career stages

150
Q

emphasizes the individual, the environment, the organization, and the venture process

A

multidimensional apporach

151
Q

dimension that relate in multidimensional approach (4)

A

individual
environment
organization
process

152
Q

moves entrepreneurship from a segmented school of thought to a dynamic, interactive process approach

what approach

A

multidimensional approach

153
Q

a very few executives understand the concept

A

intrapreneurship

154
Q

those who take hands-on responsibility for creating innovation of any kind within an organization

A

intrepreneurship

155
Q

Major thrust in ______ is to create or develop the entrepreneurial spirit within corporate boundaries

A

intrapreneuring

156
Q

process of individual and new-venture creation through four major dimensions

A

entrepreneurship

157
Q

four major dimensions of entrepreneurship

A

a.Individual
b.Organization
c.Environment
d.Process

158
Q

catalyst for economic change who uses purposeful searching, careful planning, and sound judgment in carrying out the entrepreneurial process

A

entrepreneur

159
Q

all the rules, things that work, and the kinds of innovations are the same

A

entrepreneurial management

160
Q

The techniques and principles of this emerging discipline will drive the entrepreneurial economy of our time

A

entrepreneurial management

161
Q

Every person has the potential and free choice to pursue a career as an entrepreneur. What motivates people to make this choice is not fully understood

A

entrepreneurial mindset

162
Q

about understanding how entrepreneurs use simplifying mental models to piece together previously unconnected information that helps them to identify and invent new products or services

A

entrepreneurial cognition

163
Q

integrates the combined effects of entrepreneurial motivation and context, toward the development of metacognitive
strategies applied to information processing within an entrepreneurial environment

A

metacognitive perspective

164
Q

used to refer to the mental functions, mental processes (thoughts), and mental states of intelligent humans

A

cognition

165
Q

special person who combines sound judgment and planning with risk taking to ensure the success of his or her own business

A

entrepreneurs

166
Q

more than any other factor, total dedication to success as an entrepreneur can overcome obstacles and setbacks. It can also compensate for personal shortcomings.

what characteristic

A

determination and perseverance

167
Q

entrepreneurs are all self-starters who appear to be internally driven by strong desire to compete, to excel against self imposed standards, and to pursue and attain challenging goals

what characteristic

A

drive to achieve

168
Q

one clear pattern among successful growth-minded entrepreneurs is their focus on opportunity rather than on resources, structure, or strategy

what characteristic

A

opportunity orientation

169
Q

entrepreneurs are not intimidated by difficult situations. Simple problems bore them, unsolvable ones do not warrant their time.

what characteristic

A

persisten problem solving

170
Q

successful entrepreneurs believe in themselves. They believe that their accomplishments and setbacks are within their own control and influence and that they can affect the outcome of their actions

what characteristics

A

internal locus of control

171
Q

successful entrepreneurs thrive on fluidity and excitement of such an ambiguous existence

what characteristics

A

tolerance for ambiguity

172
Q

successful entrepreneurs are not gamblers. When they decide to participate in a venture, they do so in a very calculated, carefully thought out manner.

what characteristics

A

calculated risk taking

173
Q

many entrepreneurs fine tune their energy levels by carefully monitoring what they eat and drink, establishing exercise routines, and knowing when to get away for relaxation

what characteristics

A

high energy level

174
Q

an expanding school of though thinks that creativity can be learned

what characteristics

A

creativity and innovativeness

175
Q

not all entrepreneurs have predetermined vision for their firm. In many cases this vision develops over time as the individual begins to learn what the firm is and what it can become

what characteristics

A

vision

176
Q

fundamental emotional experience for entrepreneurs characterized by a discrete emotion that is quite intense

what characteristic

A

passion

177
Q

the desire for independence and autonomy does not preclude the entrepreneur’s desire
to build a strong entrepreneurial team. Most successful entrepreneurs have highly qualified, well-motivated teams that help handle the growth and development of the venture

what characteristic

A

team building

178
Q

Entrepreneurs use what as a learning experience. They have tolerance for failure. The most effective entrepreneurs are realistic enough to expect difficulties and failures

A

failure

179
Q

negative emotional response to the loss of something important triggering behavioral, physiological, and psychological symptoms

A

grief

180
Q

orientation that focuses on the failure, can sometimes exacerbate negative emotional reactions to failutre

A

loss orientation

181
Q

orientation enabling entrepreneurs to distract themselves from thinking about the failure

A

restoration orientation

182
Q

The prevalent view of entrepreneurship in the literature is that entrepreneurs create ____

A

ventures

183
Q

moves past the static – snapshot! Approach to entrepreneurship and encourages consideration of entrepreneurship as a dynamic, socially situated process that involves numerous actors and events

A

experimental view

184
Q

its creation involves three parallel, interactive phenomena, none of are predetermined or fixed – they define and are defined by one another

A

sustainable enterprises

185
Q

three parallel, interactive phenomena, none of are predetermined or fixed – they define and are defined by one another:

A

▪emergence of opportunity
▪emergence of venture
▪emergence of entrepreneur

186
Q

certain negative factors may envelop entrepreneurs and dominate their behavior, although each of these factors has a positive aspect, it is important for entrepreneurs to understand their potential destructive side as well

A

dark side of entrepreneurship

187
Q

starting or buying a new business involves ____, a typology of entrepreneurial style helps describe the risk taking activity of entrepreneurs

A

risk

188
Q

measured against the level of profit motive (the desire for monetary gain or return from the venture)

A

financial risk

189
Q

a question frequently raised by would-be entrepreneurs is whether they will be able to find a job or go back to their old jobs if their venture should fail

A

career risk

190
Q

entrepreneurs expose their families to the risk of an incomplete family and the possibility of permanent scars

A

family and social risk

191
Q

the greatest risk may be to the well-being of the entrepreneur

A

psychic risk

192
Q

to achieve their goals, entrepreneurs are willing to tolerate the effects of stress

A

back problems
indigestion
insomnia headaches

193
Q

can be viewed as a function of discrepancies between a person’s expectations and ability to meet demands

A

entrepreneurial stress

194
Q

simultaneous demands can lead to role ____

A

overload

195
Q

entrepreneurs often work alone or with a small number of employees and therefore lack the support from ___

A

colleagues

196
Q

basic personality structure common to entrepreneurs, describes people who are impatient, demanding, and overstrung

A

type A personality

197
Q

source of stress based on researchers Boyd and Grumpert (4)

A

loneliness
immersion in business
people problems
need to achieve

198
Q

entrepreneurs are isolated from persons in whom they can confide. They tend not to participate in social activities unless there is some business benefit

what source of stress

A

isolation

199
Q

most entrepreneurs are married to their business. They work long hours, leaving them with little to no time for civic recreation

what source of stress

A

immersion in business

200
Q

most entrepreneurs experience frustration, disappointment, and aggravation in their experience with people

what source of stress

A

people problems

201
Q

achievement brings satisfaction, however, many entrepreneurs are never satisfied with work no matter
how well it is done

what source of stress

A

need to achieve

202
Q

if this can be kept within constructive bounds, it can increase a person’s efficiency and improve performance

A

stress

203
Q

one way to relieve the loneliness of running a business is to share experiences by networking with other business owners

A

networking

204
Q

the best antidote could be a well-planned vacation

A

getting away from it all

205
Q

entrepreneurs are in close contact with employees and can readily assess the concerns of their staff

A

communication with employee

206
Q

entrepreneurs need to get away from the business occasionally and become more passionate about life itself; they need to gain some new perspectives

A

finding satisfaction outside the company

207
Q

entrepreneurs find delegation difficult because they think they have to be at the business all the time and be involved in all aspects of the operation

A

delegating

208
Q

research demonstrate the value of exercise regimens on relieving the stress associated with entrepreneurs

A

exercising rigorously

209
Q

certain characteristics that usually propel entrepreneurs into success also, if exhibited in the extreme have destructive implications for
entrepreneurs

A

entrepreneurial ego

210
Q

entrepreneurs are driven by a strong desire to control both their venture and their destiny

A

overbearing need for control

211
Q

because entrepreneurs are continually scanning the environment, it could cause them to lose sight of reality, distort reasoning and logic, and take destructive action

A

sense of control

212
Q

this can be dangerous because there exists the chance that the individual will become more important than the venture itself

A

overriding desire for success

213
Q

when external optimism is taken to its extreme, it could lead to a fantasy approach to the business

A

unrealistic optimism

214
Q

provides the basic rules or parameters for conducting any activity in an acceptable manner

A

ethics

215
Q

represents a set of principles prescribing a behavioral code that explains what is good and right or bad and wrong

A

ethics

216
Q

may outline moral duty and obligation

A

ethics

217
Q

provides societal standards but not definitive answers to ethical questions. Because deciding what is good or right or bad and wrong is situational, instead of relying on a set of fixed ethical principles, entrepreneurs should use an ethical process for making decisions

A

legality

218
Q

decision makers use one of four rationalizations to justify questionable conduct

A

▪the activity is not really illegal or immoral
▪that it is in the individual’s or the corporation’s best interest
▪that it will never be found out
▪that because it helps the company, the company will condone it

219
Q

morally questionable acts can be classified as

A

nonrole
role failure
role distortion
role assertion

220
Q

▪
legal requirements tend to be ____ , morality needs to be ___

A

negative, positive

221
Q

statement of ethical practices or guidelines to which an enterprise adheres

A

code of content

222
Q

a strategy for this should encompass three major elements: ethical consciousness, ethical process and structure, and institutionalization

A

ethical responsibility

223
Q

recognize the fine line between resourcefulness and rule breaking

A

ethical considerations

224
Q

feminine alternative to more traditional and masculine ethics based on rules and regulations by considering the interests of others and maintaining healthy relationships

A

caring

225
Q

decision to behave entrepreneurially is the result of the interaction of several factors:

▪individual’s personal characteristics
▪individual’s personal environment
▪relevant business environment
▪individual’s personal goal set
▪existence of a viable business environment
▪individual’s personal goal set
▪existence of viable business ideas
▪comparison of probable outcomes with personal expectations
▪relationship between entrepreneurial behavior and the expected outcomes
▪entrepreneurial persistence – the choice to continue with an
entrepreneurial opportunity
regardless of counterinfluences or other enticing alternatives

A

entrepreneurial motivation

226
Q

Youth Entrepreneurship Act - The promotion of youth entrepreneurship and financial literacy program shall be inculcated in all levels of education nationwide.

A

RA 10679

227
Q

enhanced basic education act - Broaden the goals of high school education for college preparation, vocational and technical career opportunities as well as creative arts, sports and entrepreneurial employment in a rapidly changing and increasingly globalized environment; and

A

RA 10533

228
Q

entrepreneurs are (3)

A

opportunity focused
innovative
growth oriented

229
Q

opportunity (3)

A

opportunity seeking
opportunity screening
opportunity seizing

Entrepreneurship (4 decks)

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