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Entrepreneurship > Introduction > Flashcards

Introduction Flashcards

1
Q

this means that one of the
benefits an entrepreneur gets is to develop his managerial skills.

A

Development of Managerial capabilities

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2
Q

which means that because of entrepreneurships
many organizations will exist.

A

Creation of Organizations-

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3
Q

this means that entrepreneurship can lift up
the economic status of an individual

A

Improving standard of living

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4
Q

this means that not only the life of the entrepreneur is improved but also the society where the business is located.

A

Means of economic development

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5
Q

which means “ to undertake” This is pinpointing to those who ”undertake” the risk of
enterprise.

A

Entrepreneur

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6
Q

are innovators, willing to take risks and generate new ideas to
make it unique and profitable solutions to the present-day problems.

A

Entrepreneurship

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7
Q

Factors Affecting Entrepreneurship

A
  1. Personality Factors which includes:
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8
Q

which means doing things even before being told

A

Initiative

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9
Q

which means he can classify opportunities and seize it.

A

Proactive

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10
Q

which means he can retain good relations with other
people

A

Problem solver

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11
Q
  • meaning he will pursue things to get done regardless of
    challenges
A

Perseverance

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12
Q

means that he can entice people to buy even if they don’t.

A

Persuasion

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13
Q

meaning he makes plan before doing things and do not fail to
monitor it.

A

meaning he makes plan before doing things and do not fail to
monitor it.a plan

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14
Q

which means that he is willing to gamble but he will calculate it
first.

A

Risk taker

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15
Q
  • meaning he will pursue things to get done regardless of
    challenges
A

Perseverance

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16
Q

which include political, climate, legal system,
economic and social conditions and market situations.

A

Environmental factors

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17
Q

Common Competencies in Entrepreneurship

A
  1. Decisive- an entrepreneur must be firm in making decisions.
  2. Communicator- an entrepreneur must have a convincing power.
  3. Leader-an entrepreneur an entrepreneur must have the charisma to be
    obeyed by his employees
  4. Opportunity seeker- an entrepreneur must have the ability to be the first to
    see business chances.
  5. Proactive- controlling a situation by making things to happen or by preparing
    for possible future problems.
  6. Risk Taker- they have the courage to pursue what is their business ideas.
  7. Innovative- the entrepreneurs have big business ideas and they do not stop
    improving and thinking of new worthwhile ideas for their business.
18
Q

an entrepreneur must be firm in making decisions.

A

Decisive

19
Q

an entrepreneur must have a convincing power.

A

Communication

20
Q

-an entrepreneur an entrepreneur must have the charisma to be
obeyed by his employees

A

Leader

21
Q

an entrepreneur must have the ability to be the first to
see business chances.

A

Opportunity seeker

22
Q

controlling a situation by making things to happen or by preparing
for possible future problems.

A

Proactive

23
Q

they have the courage to pursue what is their business ideas.

A

Risk taker

24
Q

the entrepreneurs have big business ideas and they do not stop
improving and thinking of new worthwhile ideas for their business.

A

Innovative

25
Q

Core Competencies in Entrepreneurship.

A
  1. Economic and dynamic activity- Entrepreneurship is an economic activity
    because it involves the creation and operation of an enterprise with a view to
    creating value or wealth by ensuring optimum utilization of limited resources.
  2. Innovative- Entrepreneurs constantly look for new ideas, thus he needs to be
    creative.
  3. Profit Potential- meaning the entrepreneur can be compensated by his profit
    coming from the operation.
  4. Risk bearing –meaning the entrepreneur needs to gamble but wise enough
    to offset the risk.
26
Q

Entrepreneurship is an economic activity because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources.

A

Economic and dynamic activity-

27
Q

Entrepreneurs constantly look for new ideas, thus he needs to be
creative.

A

Innovative

28
Q

meaning the entrepreneur can be compensated by his profit
coming from the operation.

A

Profit potential

29
Q

–meaning the entrepreneur needs to gamble but wise enough
to offset the risk.

A

Risk bearing

30
Q

Types of entrepreneurs

A
  1. Innovative entrepreneur- they are those who always make new things by
    thinking of new ideas.
  2. Imitating entrepreneurs- they are those who don’t create new things but only
    follow the ideas of other entrepreneurs.
  3. Fabian entrepreneurs- they are those skeptical. They don’t initiate but follow
    only after they are satisfied.
  4. Drone entrepreneur- they are those who lives on the labor of others. They
    are die-hard conservatives even ready to suffer the loss of business.
  5. Social entrepreneurs-they are those who initiate changes in the various
    fields such as education, health, human rights, environment and enterprise
    development.
31
Q

they are those who always make new things by
thinking of new ideas.

A

Innovative entrepreneur

32
Q

they are those who don’t create new things but only
follow the ideas of other entrepreneurs.

A

Imitating entrepreneur

33
Q

they are those skeptical. They don’t initiate but follow
only after they are satisfied.

A

Fabian entrepreneur

34
Q

they are those who lives on the labor of others. They are die-hard conservatives even ready to suffer the loss of business.

A

Drone entrepreneur

35
Q

they are those who initiate changes in the various fields such as education, health, human rights, environment and enterprise
development.

A

Social entrepreneurs

36
Q

Career Opportunities of Entrepreneurship

A
  1. Business Consultant- with the expertise of the entrepreneur he can be a
    very good source of advices to other entrepreneurs and would be business
    man.
  2. Teacher- a graduate of an entrepreneurship can be use his knowledge in
    teaching
  3. Researcher- the entrepreneur can be employed as researcher by an
    enterprise.
  4. Sales- the entrepreneurship graduate can apply as salesman
  5. Business Reporter- the entrepreneur being expert in the field, he can be
    employed as business reporter.
37
Q

with the expertise of the entrepreneur he can be a
very good source of advices to other entrepreneurs and would be business
man.

A

Business consultant

38
Q

a graduate of an entrepreneurship can be use his knowledge in
teaching

A

Teacher

39
Q

the entrepreneur can be employed as researcher by an
enterprise.

A

Researcher

40
Q

the entrepreneurship graduate can apply as salesman

A

Sales

41
Q
  • the entrepreneur being expert in the field, he can be
    employed as business reporter.
A
  1. Business Reporter

Entrepreneurship (1 decks)

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