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OPP SEEK MIDTERM > LESSON 1: Introduction to Opportunity Seeking > Flashcards

LESSON 1: Introduction to Opportunity Seeking Flashcards

1
Q

is the process of identifying and pursuing potential prospects that could lead to significant personal, professional, or business benefits.

A

Opportunity seeking

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2
Q

OPP SEEK involves ???

A
  • recognizing gaps in the market
  • unmet needs
  • new trends that can be leveraged for growth or innovation.
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3
Q

In entrepreneurship, it often translates to discovering new business ideas or niches.

A

opportunity seeking

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4
Q

Entrepreneurs actively look for ways to ???

A
  • solve problems
  • improve existing products/services
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5
Q

For career professionals, it might involve looking for new roles, skill enhancements, or networking opportunities that can lead to career advancement.

A

opportunity seeking

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6
Q

: This encompasses identifying areas where new technologies or methodologies can create value or improve efficiency

A

Innovation

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7
Q

: On an individual level, it can mean identifying opportunities for learning, personal development, or new experiences that align with personal goals.

A

Personal Growth

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8
Q

The Role of Opportunity Seeking in Entrepreneurship

A
  • Opportunity Recognition
  • Innovation and Value Creation
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9
Q

: Successful entrepreneurs are adept at spotting opportunities that others may overlook.

A

Opportunity Recognition

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10
Q

opportunity recognition involves

A
  • recognizing market gaps
  • emerging trends
  • consumer needs.
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11
Q

: creating new products or services that address identified needs. For example, the rise of electric vehicles was driven by the opportunity to offer a more sustainable transportation option.

A

Innovation and Value Creation

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12
Q

The Role of Opportunity Seeking in Career Development

A
  • Career Advancement
  • Networking and Mentorship
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13
Q

: Professionals who actively seekopportunities for growth—such as new roles, promotions, or skill development—are more likely to advance in their careers. This proactive approach helps individuals stay relevant and competitive.

A

Career Advancement

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14
Q

: Building a robust professional network can open doors to opportunities such as job referrals, collaborations, and mentorship, which are crucial for career progression

A

Networking and Mentorship

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15
Q

Key Traits of Successful Opportunity Seekers

A
  • Curiosity
  • Resilience
  • Vision
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16
Q

: A natural inclination to explore new ideas, technologies, and market trend
- drives individuals to continually seek knowledge and understand the evolving landscape.

A

Curiosity

17
Q

: The ability to bounce back from failures and setbacks.

A

Resilience

18
Q

view challenges as learning opportunities rather than obstacles

A

Resilient individuals

19
Q

: The ability to see potential where others may not.

A

Vision

20
Q

can foresee long-term impacts and opportunities that align with their goals or the needs of the market.

A

Visionaries

21
Q

Key Skills of Successful Opportunity Seekers

A
  • Analytical Thinking
  • Creativity
  • Networking
  • Risk MAnagement
22
Q

: The capacity to critically evaluate opportunities based on factors such as feasibility, market demand, and competition.

This involves using data and insights to make informed decisions.

A

Analytical Thinking

23
Q

: The ability to generate novel ideas and solutions.

A

Creativity

24
Q

are adept at finding unconventional ways to address problems or seize opportunities.

A

Creative thinkers

25
Q

: Building and maintaining professional relationships that can provide support, advice, and access to opportunities.

A

Networking

26
Q

Effective networking involves ???

A

strategic relationship-building and leveraging connections.

27
Q

: The skill to assess and mitigate risks associated with pursuing opportunities. This includes understanding potential pitfalls and developing strategies to manage uncertainties

A

Risk Management

28
Q

: An entrepreneur constantly explores new technological advancements and incorporates relevant ones into their business model to stay ahead of competitors.

A

Curiosity

29
Q

: A job seeker faces multiple rejections but continues to refine their resume and interview skills, ultimately landing a desirable position.

A

Resilience

30
Q

A startup founder identifies a future trend in sustainable living and develops a product that aligns with this trend, positioning the company for long-term success.

A

Vision:

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