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ENTREPRENEURIAL MIND > MODULE 2 > Flashcards

MODULE 2 Flashcards

1
Q

Filipino entrepreneur has a set of values that guides him in
doing business. The greatest value for a Filipino entrepreneur is his family.

A

Value-oriented

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2
Q

The most successful Filipino entrepreneurs have excellent
leadership skills. He is able to convince and influence his employees and his customers positively.
He is also able to innovate to come up with novel solutions when a challenging situation arises

A

A leader and an innovator

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3
Q

No one can doubt how hardworking the Filipino
entrepreneur is. His involvement in his business is nearly absolute, to the point that his personal time for himself and his loved ones is compromised. He is also goal oriented, and has the discipline to set smaller goals that he will accomplish in order to meet his final objective.

A

Hard-working and goal-oriented.

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4
Q

The Filipino entrepreneur is always hands-on and self-reliant.
When he is just starting out his business, he is practically able to do everything involved in running It-from finding the best suppliers to renting the place of business, to the marketing, selling and
customer relations, and even accounting

A

Confident and self-reliant.

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5
Q

Two ways of thinking about entrepreneurship:

A

➢ Predictive approach
➢ Creation approach

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6
Q

considers entrepreneurship as a linear process where
there are steps to do and the results are usually
predictable. able to foretold or declared in advance

A

predictible approach

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7
Q

sees entrepreneurship as a mindset and a method that
needs practice and use only when the future is
unpredictable and not certain, the ability to come up with
new ideas

A

creation approach

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8
Q

identifies entrepreneurship as an instrument of economic growth

A

1987 Philippine Constitution

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9
Q

supervises the government objective of economic development & job
formation has been placed

A

Philippine Development Plan (PDP)

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10
Q

, an agency under the Office of the President is an advocate of
entrepreneurship which formed the Philippine Center for
Entrepreneurship (PCE)

A

Philippine Chamber of Commerce and Industry

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11
Q

PCE created this ______ the academic, business and government sectors have collaborated to form these communities

A

“Go Negosyo Communities”

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12
Q

THE SKILLS IMPORTANT IN ENTREPRENEURSHIP

A

o The Skill to Play
o The Skill of Experimentation
o The Skill of Empathy
o The Skill of Creativity
o The Skill of Reflection

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13
Q

The Skill of Reflection:

A

✓ Narrative
✓ Emotional
✓ Perceptive
✓ Analytical
✓ Evaluative
✓ Critical

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14
Q

– is a systematic way of doing a task, while PROCESS is
a sequence of steps to take to attain something.

A

method

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15
Q

when there is a steps that could lead to a successful
business, it focuses on planning and making forecasts

A

Entrepreneurship as a process

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16
Q
  • when it describes a logic of thinking that is usually used
    by some of the most successful entrepreneurs to form
    their venture,
A

Entrepreneurship as a method

17
Q

5 PRINCIPLES OF EFFECTUAL ENTREPRENEURSHIP METHOD

A

o Birds in Hand
o Affordable Loss
o Crazy Quilt
o Lemonade
o Pilot in the Plane

18
Q

who is the author of the book entitled “In Outliers: The Story of Success”, claims that successful performers spent 10,000 hours in practicing their craft.

A

Malcolm Gladwell

19
Q

the ability to identify opportunities in the market place and discover the most fitting ways and time to take advantage of them.
the ability to discover and pursue the problem-solution fits.

A

entrepreneurial thinking

20
Q

uses information and data as a basis for decision-making.
use primarily by big and well-established companies, where goals are planned, problem are transparent and information is reliable and reachable

A

managerial thinking

21
Q
  • believes that the future is really something that needs to be controlled and not try to predict.
A

pilot plane

22
Q

turn challenges into opportunities

A

lemonade

23
Q

to leveraging partnerships and collaborations with a diverse network of stakeholders.

A

crazy quilt

24
Q
  • only investing much that an entrepreneur is willing and can afford to loss.
A

affordable loss

25
Q
  • creating solutions using the resources available at the disposal of entrepreneurs instead of having goals in mind.
A

birds in hand

26
Q

the idea in entrepreneurship that the future is unpredictable yet controllable.

A

effectuation

27
Q

is a systematic way of doing a task, while PROCESS is a sequence of steps to take to attain something

A

method

28
Q
  • an entrepreneur who constantly crops up with fresh ideas and starts new business.
A

serial entrepreneurs

29
Q
  • owned and managed by members of the family that is usually handed down from generation to generation
A

family business

30
Q
  • refers to entrepreneurs pursuing innovative applications that have the likelihood of solving community-based problems.
A

social entrepreneurs

31
Q
  • refers to entrepreneur who buys out the existing owner and takes the management and operation of the small business.
A

buying a small business

32
Q

is a type of license brought by an entrepreneur as the franchisee from the existing branded Business (franchisor) so that the may do business under the name of the said brand

A

franchise

33
Q

refers to entrepreneurs that function inside any type of organization such as government agencies, non-profit organizations, religious entities, self-employed and even cooperatives, whether they are big or small.

A

entrepreneurship inside

34
Q
  • refers to encouraging people to discover high-risk, high-reward concepts with the support of a big corporate organization.
A

intrapreneurship

35
Q

this skill, organizes all four skills mentioned a while ago. By taking time to reflect is the most vital skill of all skills.

A

the skill of reflection

36
Q
  • this means being open-minded and letting loose one’s ability to create, discover opportunities a resolve problem.
A

The Skill of Creativity

37
Q
  • this means being sympathetic/supportive with the feeling, situation, purposes, opinions and wants of other people.
A

the skill empathy

38
Q
  • it is a skill to call for entrepreneurs to act so as to learn, in other words “acting to learn”.
A

The Skill of Experimentation

39
Q
  • an entrepreneur usually allows his imagination to explore, expose his mind to a treasure of opportunities and potential and is very innovative.
A

The Skill to Play

ENTREPRENEURIAL MIND (2 decks)

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