Lesson 1: Introduction to Entrepreneurship Flashcards
The act of creating a business or businesses while building and
scaling it to generate a profit.
Entrepreneurship
An important driver of economic growth and innovation.
Entrepreneurship
About building a life on your own terms. No bosses. No
restricting schedules. And no one holds you back.
Entrepreneurship
An individual who creates a new business, bearing most of the risks and enjoying most of the rewards.
Entrepreneur
french word that means “between”
entre
french word which means “to take”
prendre
people who own, operate
and take risk of a business venture.
Entrepreneurs
they identify unmet needs in the
marketplace. They provide a service or product
to meet those needs.
Entrepreneurs
Why become an entrepreneur?
- Be their own boss
- Pursue Financial rewards
- Pursue their own ideas
Characteristics of Successful Entrepreneurs
- passion for the business,
- execution intelligence, - - product/customer focus, and
- tenacity despite failure.
true or false: Entrepreneurship produces
more jobs that equate to
an increase in national
income. Small businesses
produce jobs and create
wealth.
TRUE
true or false: Entrepreneurship
amplifies economic
activities of different
sectors of society.
TRUE
true or false: Entrepreneurship
introduces new and
innovative products and
services.
TRUE
true or false: Entrepreneurship
disperses the economic
power and creates
equity.
False : equity –> equality
true or false: Entrepreneurship improves
people’s living standards.
True
