Introduction to Entrepreneurship Flashcards
want to do things on their own.
-independence
-direct involvement
-small-scale operations
-income generation focus
The Self-employed
feel the need to step up and
ask some help from people
around them.
-delegation of task
-organized operations
-leadership focus
-profitability and stability
The manager
enjoy seeing people
flourish, stepping up and
producing great results
with minimal supervision
-vision oriented
-empowerment
-inspiring innovation
-building relationship
The Leader
-focus on the big picture
-defining the company’s vision and mission
-long-term objective
vision-oriented
-delegate authority
-empower team members to take initiative and make decisions
empowerment
-foster a culture of creativity
-encouraging teams to develop new ideas and solutions
inspiring innovation
-prioritize strong relationships with employees, stakeholders and clients
to ensure collaboration and trust
building relationships
Setting clear, long-term goals, and aligning team efforts
with organizational objectives
strategic thinking
Articulating the company’s vision and inspiring the teams to achieve it
communication
Understanding and managing emotions to build strong
interpersonal relationships
emotional intelligence
Leading through change and uncertainty with resilience and
flexibility
adaptability
look for more
opportunities for their
business to grow
-passive involvement (relies on others)
-portfolio diversification (various industries)(minimize risk and
maximize returns)
-focus on returns (prioritize high-growth opportunities and
sustainable profitability)
-mentorship (mentor startups and small businesses, offering guidance
and expertise alongside capital.
The Investor
skills required at the investor level
-Financial literacy
(understanding)
-Risk assessment (evaluating)
-Networking (building
relationship)
-Negotiation (securing
favorable terms for
investments and partnership)
fully learned and continue
to practice four-step
process of thinking
The True Entrepreneur
Four-step process of thinking
idealization
visualization
verbalization
materialization
dream and desire to build an ideal environment
idealization
create plans to make the dream a reality
visualization
sharing their ideas with other people
verbalization
vision becomes a reality
materialization
