LESSON 1 Flashcards
proactive
process of developing a business
venture to make a profit and
involves seeking opportunities for a
market, establishing and operating
a business out of the opportunity.
Entrepreneurship
unique individual
who has the innate ability and
extraordinary dedication to establish
and manage a business, acknowledging
all the risks and reaping its rewards.
ENTREPRENEUR
Societal and
Economic Benefits
of Entreprenuership
-Produces more jobs
that adequate to an
increase in national
income.
-Amplifies economic
activities of different
sectors of society.
-Introduces new and
innovative products
and services.
-Improves people’s
living standards.
-Disperses the
economic power and
creates equality.
-Controls the local
wealth and balances
regional development.
-Reduces social
conflicts and political
unrest.
-Elicits economic
independence and
capital formation.
These common competencies are the skills required of a promising entrepreneur
1.Proactive
2.Agents of change
3.Risk-takers
4.Have a sharp eye for opportunities
5.Sociable
6.Networkers
7.Decisive
8.Balanced
9.Innovative
The core traits
1.Leaders
2.Communicators
3.Specialists
4.Problem-solvers
______ more jobs that _______ to an increase in _______ _______.
Produces, adequate, national income
Amplifies ________ ________ of different sectors of society.
Economic activities
Introduces ___ and _________ _______ and ________
New, innovative products, services
Introduces ___ and _________ _______ and ________
New, innovative products, services
Improves ________ ______ _________.
people’s living standards
Disperses the _________ _____ and creates _______.
economic power, equality
Controls the ____ _______ and balances ________ ___________.
Local wealth, regional development
Reduces ______ ________ and ________ ______.
Social conflicts, political unrest.
Elicits ________ ____________ and _______ _________.
economic independence, capital formation
