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Entrepreneurship > M1: Relevance of the Course > Flashcards

M1: Relevance of the Course Flashcards

1
Q

The term “entrepreneur” originates from
the French verb, which
means “to undertake”.

A

enterprendre

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2
Q

It was coined
from the words ________ , which means
“between”, and __________, which means “to
take”

A

entre, prendre

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3
Q

It is a philosophy or process
through which an entrepreneur
seeks innovation and
employment

A

Entrepreneurship

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4
Q

“the process of doing something
new and something different for the
purpose of creating wealth for the
individual and adding value to society”

A

Entrepreneurship

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5
Q

t is the ability to create, manage
and operate a new business and
bears all of its risk with a view to
earn profits.

A

Entrepreneurship

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6
Q

People exposed to _________________
frequently express that they have more
opportunity to exercise creative
freedoms, higher self-esteem, and an
overall greater sense of control over
their own lives

A

Entrepreneurship

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7
Q

can also be
described as a creative and
innovative
response to the
environment.

A

Entrepreneurship

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8
Q

Please note that key word in
Entrepreneurship is ____

A

RISK

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9
Q

New Definition involves Four Aspects
1. The c_______ process
2. Devotion of t______ and e_______
3. Assumption of r________
4. Rewards of independence,
s____________, money

A
  1. creation
  2. time and effort
  3. risks
  4. satisfaction
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10
Q

An individual who bears the risk of
operating business in the face of
uncertainty about the future
conditions.

A

entrepreneur

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11
Q

is the one who always
searches for change, responds to it and
exploits it as an opportunity - Peter Drucker

A

entrepreneur

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12
Q

s
the specific tool of entrepreneurs, the
means by which they exploit changes as
an opportunity for a different business or
different service - Peter Drucker

A

Innovation

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13
Q

An entrepreneur of 21st century is a
___________ focused innovator. He uses e–
knowledge. Advantage is speed. He is a
_______ thinker even though he may not
necessarily be a global ___________

A

customer, global, player

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14
Q

is
a person who
starts with new
idea

A

ENTREPRENEUR

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15
Q

Creates new
market

A

ENTREPRENEUR

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16
Q

§Market
leader

A

ENTREPRENEUR

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17
Q

Comparatively
High risk

A

ENTREPRENEUR

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18
Q

Unconventional

A

ENTREPRENEUR

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19
Q

people-oriented

A

ENTREPRENEUR

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20
Q

Low
competition

A

ENTREPRENEUR

21
Q

Very high
competition

A

BUSINESSMAN

22
Q

Profit
oriented

A

BUSINESSMAN

23
Q

Conventional

A

BUSINESSMAN

24
Q

Less risk

A

BUSINESSMAN

25
Q

Market
player

A

BUSINESSMAN

26
Q

Creates place
in existing
markets

A

BUSINESSMAN

27
Q

who sets
up an existing
idea

A

BUSINESSMAN

28
Q

where entrepreneurial activity is going on like
company, industry, firm, organization, office, agency,
franchise, shops, etc

A

ENTERPRISE

29
Q

supports the recognition of new market
opportunities as well as develops the opportunity to
change and develop at the individual, business and
industry/ sector levels

A

ENTERPRISE

30
Q

misconception or truths of entrepreneurship

Entrepreneurship applies only to manufacturing
business.

A

Misconceptions

31
Q

misconception or truths of entrepreneurship

Entrepreneurship is simply opening a small business.

A

Misconceptions

32
Q

misconception or truths of entrepreneurship

Entrepreneurship applies only to small business.

A

Misconceptions

33
Q

misconception or truths of entrepreneurship

Entrepreneurship applies mostly to persons with good
educational background in business courses.

A

Misconceptions

34
Q

misconception or truths of entrepreneurship

Entrepreneurship applies only to a good economy

A

Misconceptions

35
Q

misconception or truths of entrepreneurship

Entrepreneurs collaborate more than they
compete.

A

Truth

35
Q

misconception or truths of entrepreneurship

Entrepreneurship is not reserved for
startups.

A

Truth

36
Q

misconception or truths of entrepreneurship

Entrepreneurs do not have a special set
of personality traits

A

Truth

37
Q
A
38
Q

misconception or truths of entrepreneurship

Entrepreneurship is a life skill.

A

Truth

38
Q

misconception or truths of entrepreneurship

Entrepreneurship can be taught (it’s a
method that requires practice).

A

Truth

39
Q

Importance to the Filipino People

1.It provides guidelines in their w______-creating
ventures.
2.It helps improve their f_____ and s______ life.
3.It helps broaden their c_________ .
4.It helps make their lives h_________, fruitful, and
s_________

A
  1. wealth
  2. financial and social
  3. creativity
  4. happy, successful
40
Q

misconception or truths of entrepreneurship

Entrepreneurs act more than they plan.

A

Truth

40
Q

misconception or truths of entrepreneurship

Entrepreneurs are not extreme risk
takers.

A

Truth

41
Q

Importance to the Local Community

1.It provides e_________ to the community.
2.It creates new d________ in the market.
3.It makes substantial contribution to the raising and
collection of t_____.
4.It facilitates the movement of the factors of p______.
5.It creates new b________ opportunities.
6.It promotes a peaceful and loving c_________.
7.It increases c_____________competition.

A
  1. employment
  2. demand
  3. taxes
  4. production
  5. business
  6. community
  7. constructive
42
Q

Importance to the Philippine Economy

  1. It encourages c_____________ and thereby challenges
    e___________ to keep improving their products and
    services.
  2. It helps find an entrepreneurial n_____in the world market.
  3. It helps hasten the economic r________ process of the
    Philippines during financial turmoil or crackdown.
  4. It facilitates the smooth flow of m________ in the local market.
  5. It assists the national government in its desire to have a
    favorable e__________rating in the world market
A
  1. competitiveness, entrepreneurs
  2. niche
    1. recovery
  4. money
  5. economic
43
Q

RELEVANCE OF
ENTREPRENEURSHIP TO SHS
STUDENTS

1.To prepare students for l___________ even before
college.
2. Entrepreneurship education aids students from all
socioeconomic backgrounds to think outside the box
and nurture unconventional talents and skills.
3. Entrepreneurship develops their i__________ and helps
them to be more creative and self-confident in
whatever they undertake and to act in a socially
responsible way.

A
  1. livelihood
  2. initiative
44
Q

RELEVANCE OF
ENTREPRENEURSHIP TO SHS
STUDENTS

  1. It exposes students to numerous
    opportunities to learn how to think c______
    and a_________the pieces on the board.
  2. Being aware of all the important factors
    and seeing how they affect each other is the
    foundation of a smart d________-making
    process
A
  1. critically, analyze
  2. decision
45
Q

RELEVANCE OF
ENTREPRENEURSHIP TO SHS
STUDENT

  1. Students have to be exposed to r____-world
    examples and learn from their own
    experience.
  2. Entrepreneurship education requires
    students to be i___________, creative and
    c__________with others.
A
  1. real
  2. innovative, collaborative
46
Q

RELEVANCE OF
ENTREPRENEURSHIP TO SHS
STUDENT

  1. Entrepreneurship education provides
    budding entrepreneurs with the skills and
    knowledge to come up with business ideas
    and develop their own v___________.
  2. Creation of entrepreneurial thinkers who
    also have the skills and tools to start their
    own b____________
A
  1. ventures
  2. businesses

Entrepreneurship (2 decks)

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