Mindset Flashcards
is a course of action that involves all functions, activities
and actions associated with identifying and evaluating
perceived opportunities and the bringing together of
resources necessary for the successful formation of a
new firm to pursue and seize the said opportunities.
ENTREPRENUERIAL PROCES
THE SUM OF YOUR KNOWLEDGE, INCLUDING BELIEFS AND THOUGHTS ABOUT
THEWORLD AND YOURSELF IN IT
MINDSET
YOUR FILTER FOR INFORMATION YOU GET IN AND PUT OUT. DETERMINES HOW YOU RECEIVE AND REACT TO INFORMATION. A HABIT
MINDSET
when one perceives his talent and abilities as a set of
traits
FIXED MINDSET
when one perceives his talent and abilities as a set
that can be improved.
GROWTH MINDSET
- New goods
2. New methods of production
3. New markets
4. New sources of inputs
5. New types of organizing
INNOVATIVE ACTIVITIES
This means new products or service that initially started at
the bottom of the marketplace but eventually moved up and removed the
competitor.
Disruptive innovation.
This innovation happens when a product was first introduced in
developed countries and later introduced in developed markets
Reverse.
happens when small improvements on
the products or service are done but not totally changing the entire product or
service
Incremental.
This innovation happens when a new product or service that has
never existed appears in the market
Breakthrough.
This innovation occurs when a company taps the internal and external
ideas to improve their current operations
Open.
a specific state of mind that orientates human conduct toward seeking
opportunities, taking risks to realize those opportunities and have the
tenacity to push an idea through to make it a re
ENTREPRENEURIAL MINDSET
refers to the awareness and focus on identifying an opportunity through
solving a problem, and a willingness to move forward to advance that
idea
ENTREPRENEURIAL MINDSET
The process of planning and executing conception,
pricing, promotion, and distribution of ideas, goods, and
services to create exchanges that satisfy individual and
organizational objectives.
MARKETING
. “The activity of meeting people who might
be useful to know, especially in your job.
Networking
environment
opportunities
role models
creativity
Innovation
. This involves macro scanning and micro
scanning.
Idea/scanning the environment.
s the environment that has a direct impact
on the business being planned. It includes customers, suppliers,
intermediaries, competitors and the general public
The micro environment
s composed of environments that the company
can’t control but can be really easily affected by it. It includes
demographic forces, economic factors, technological factors, legal
factors, political factors, geographic factors, cultural factors etc
macro-environment
The goal here is to seek better ways of surviving the existing competition
Identifying the opportunity
the process of combining
resources in order to pursue the identified market opportunities. A systematic
research in order to refine the ideas of an entrepreneur is necessary in this stage
DEVELOPING OPPORTUNITITES
- screening and evaluation
part is critical. A professionally evaluated product or service is essential before
taking the risk.
EVALUATING THE OPPORTUNITY
A team with strong skills can pursue
opportunities better. After evaluating an opportunity, it is essential to check on
the people who will make the idea into a reality
EVALUATING THE TEAM
