Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Entrepreneurial Mind > Introduction to Entrepreneurial Mind > Flashcards

Introduction to Entrepreneurial Mind Flashcards

1
Q

Who is an entrepreneur? Enumerate the five characteristics of an entrepreneur.

A
  1. Starter
  2. Driver
  3. Accountable and Responsible
  4. Risk taker
  5. Innovator
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What characteristic of an entrepreneur does the statement below refer to:
An entrepreneur is an initiator, a challenger, and a driver

A

A starter

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What characteristic of an entrepreneur does the statement below refer to: The entrepreneur is the person in charge, the leader, and the person to look to for leadership.

A

A driver

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What characteristic of an entrepreneur does the statement below refer to: The entrepreneur is the ultimate responsible for the destiny of its venture, which can be a company, a project, or any other endeavor.

A

Accountable and responsible

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

True or False: Being an entrepreneur is not directly related to having an equity stake in a company

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

True or False: Being an entrepreneur showcases the leadership-related points

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

True or False: Entrepreneurship is less than financial gains.

A

False

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

The great desire to attain a vision or fulfill a mission

A

Passion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

About wanting something so much that a person would be willing to totally devote oneself to the quest; the real drive

A

Passion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

True or False: An entrepreneur possesses an interior fuel and stamina that drives his or her actions

A

True: Passion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

True or False: Anyone can be an entrepreneur and behave like one- regardless of whether or not they happen to be an equity holder.

A

True

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Allows the entrepreneur to see things in a very positive and optimistic light in the midst of crisis or difficult situations

A

Entrepreneurial mind frame

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

In Chinese writing, what two characters is the word crisis composed of?

A

Danger and Opportunity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Emotional intelligence or EQ; is often manifested in the entrepreneurs’ efforts to nurture relationships with customers, employees, and suppliers

A

Entrepreneurial Heart Flame

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Creates a caring culture within the organization that brings about synergy among the people working toward a common vision

A

Entrepreneurial Heart Flame

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Refers to the ability of the entrepreneur to sense without using the five senses

A

Entrepreneurial Gut Game

16
Q

Also known as intuition; connotes courage or, in the local dialect, “lakas ng loob” (strong intestinal fortitude).

A

Entrepreneurial Gut Game

17
Q

Successful new products spring from the convergence of the creative mind, the technical mind, and the business mind

A

New Product Development

18
Q

Conceptualizes and designs a product that consumers find some use for.

A

Creative mind

19
Q

True or False: The creative mind produces a product that is not pleasing to see, touch, smell, hear, and taste.

A

False

20
Q

The technology originator

A

Technical Mind

21
Q

True or False: All entrepreneurs possess the technical mind

A

False

22
Q

What drives an entrepreneur to convert new knowledge into something highly functional and operational?

A

The technical mind

23
Q

Harnesses the potential of new products by creating the market space for them

A

The business mind

24
Q

Organizes sufficient forces and resources to develop, launch, and commercialize the new product in order to maximize its market value

A

The business mind

25
Q

What are the five essential characteristics of the Entrepreneurial Mind?

A
  1. Creativity
  2. Suspicion of Predictors
  3. Comfort with uncertainty
  4. Openness to experimentation
  5. Functional humility
26
Q

The seed of entrepreneurship is the ability to see things differently. Whether it’s with new products or new processes, entrepreneurs are driven by the uncanny knack to see holes in the marketplace and devise innovations to fill them.

A

Creativity

27
Q

Entrepreneurs tend not to labor under the assumption that data is the sole predictor of an outcome. Especially in new markets and with new products where data is largely interpretive or extrapolated, entrepreneurs are undaunted by the typical predictors that may put off fainter hearts.

A

Suspicion of predictors

28
Q

A distrust of prediction and analysis creates an atmosphere where uncertainty rules; uncertainty is the very essence of entrepreneurship.

A

Comfort with uncertainty

29
Q

A comfort with experimentation goes beyond educated trial and error. The ability to experiment with products, processes, and outcomes, no matter where the results may lead, is the key element of this quality.

A

Openness to experimentation

30
Q

Egos can destroy the very best ideas. Entrepreneurs who are committed to solving a business problem or reinventing a product or service display a _____.

A

Functional humility

Entrepreneurial Mind (8 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions