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Entrepreneur > Prelims > Flashcards

Prelims Flashcards

1
Q

Is the ability and readiness to develop, organize and run a business enterprises

A

Entrepreneurship

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2
Q

The word entrepreneur was derived from the French verb_ which means to undertake

A

Entreprendre

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3
Q

They are the innovators. They are willing to take the risks and generate unique ideas that can provide profitable solutions to the needs of the market and society

A

Entrepreneur

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4
Q

This means that one of he benefits an entrepreneur gets is to develop his managerial skills

A

Development Of Managerial Skills

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5
Q

Which means the because of entrepreneurship many organization will exists

A

Creation of Organizations

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6
Q

This means that entrepreneurship can lift up the economic status of an individual

A

Improving Standard of Living

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7
Q

This means that not only the life of the entrepreneur is improved but also the society

A

Means of Economic Development

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8
Q

Relevance of Entrepreneurship to an organization (enumerate)

A

Development of Managerial Capabilities
Creation of Organizations
Improving standard of Living
Means of Economic Development

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9
Q

Factors Affecting Entrepreneurship

A

Personality
Environmental

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10
Q

Personality Factors Which include

A

Initiative
Proactive
Problem Solver
Perseverance
Persuasion
A Planner
Risk-Taker

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11
Q

Doing things even before being told

A

Initiative

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12
Q

To classify opportunities and and seize it

A

Proactive

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13
Q

Which means he can retain good relations with other people

A

Problem Solver

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14
Q

He will pursue things to get done regardless of challenges

A

Perseverance

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15
Q

He can entice people to buy even if they don’t want to

A

Persuasion

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16
Q

He makes plans before doing things and does not fail to monitor it

A

A Planner

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17
Q

He is willing to gamble but he will calculate it first

A

Risk-taker

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18
Q

It includes political, climate, legal system, economic, and social conditions, and market solutions

A

Environmental Factors

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19
Q

Common Competencies in entrepreneurship

A

Decisive
Communicator
Leader
Opportunity seeker

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20
Q

Power to convince people

A

Communicator

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21
Q

Stand firm in your decisions

A

Decisive

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22
Q

Charisma to be obeyed by employees

A

Leader

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23
Q

Ability to see chances; seeing struggle as opportunity

A

Opportunity Seeker

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24
Q

S.W.O.T

A

Strength
Weaknesses
Opportunity
Trends

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25
Q

Core Competencies (enumerate)

A

Economic and Dynamic Activity
Innovative
Profit Potential
Risk-Bearing

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26
Q

Involves the creation and operation of an view to creating value/ wealth enterprise by ensuring optimum utilization of limited sources

A

Economic and Dynamic Activity

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27
Q

Constantly look for new ideas, thus the he need to be creative

A

Innovative

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28
Q

It compensated by his profit coming from the operation

A

Profit Potential

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29
Q

Entrepreneur needs to gamble by his profit coming from the operation

A

Risk-bearing

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30
Q

Types of Entrepreneur (enumerate)

A

Innovative Entrepreneurs
Imitating Entrepreneurs
Fabian Entrepreneurs
Drone Entrepreneurs
Social Entrepreneurs

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31
Q

They are wise; always make new things by thinking of new things.

A

Innovative Entrepreneurs

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32
Q

They are skeptical about changes to be made in the organization.

A

Fabian Entrepreneurs

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33
Q

They are die-conservatives even ready to suffer to loss of business

A

Drone Entrepreneurs

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34
Q

They are those who initiate changes and drive social innovation and transformation in the various fields

A

Social Entrepreneurs

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35
Q

The process of creating a business by copying or adapting an existing concept or business model.

A

Imitating Entrepreneurs

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36
Q

Career Opportunities of Entrepreneurship (enumerate)

A

Business Consultant
Teacher
Researcher
Sales
Business Reporter

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37
Q

He can be very good source of advice to other entrepreneur and would be business.

A

Business Consultant

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38
Q

A graduate of an entrepreneurship can be use his knowledge in teaching

A

Teacher

39
Q

The entrepreneur can be employed as a researcher by an enterprise

A

Researcher

40
Q

The entrepreneurship graduate can apply as a salesman

A

Sales

41
Q

The entrepreneur being expert in the field, can be employed as a business reporter

A

Business Reporter

42
Q

Essentials in entrepreneur’s opportunity seeking (enumerate)

A

Entrepreneurial mind frame
Entrepreneurial Heart Flame
Entrepreneurial Gut Game

43
Q

It allows entrepreneur to see things in a very positive and optimistic way in the midst of different situation

A

Entrepreneurial mind frame

44
Q

They are driven by passion; they are attracted to discover satisfaction in the act and process of discovery

A

Entrepreneurial Heart Flame

45
Q

This refers to the ability of the entrepreneur of being intuitive. This also known as intuition.

A

Entrepreneurial Gut Game

46
Q

It refers to the physical environment, societal environment, and industry environment where the business operates.

A

External Environment

47
Q

Under by Physical Environment

A

Climate
Natural Resources
Wildlife

48
Q

The weather conditions

A

Climate

49
Q

Such as minerals, forests, water, and can be used for economic gain.

A

Natural Resources

50
Q

It includes all mammals, birds, reptiles, fish, etc. that live in the wild

A

Wildlife

51
Q

Under Social Environment (enumerate)

A

Political Forces
Economic Forces
Sociocultural Forces
Technological Environment

52
Q

It includes all the law, rules, and regulations that govern business practices as well as the permits, approvals, and license necessary to operate the business

A

Political Forces

53
Q

It includes such as income level and employment

A

Economic Forces

54
Q

Customs, lifestyles, and values that characterize a society

A

Sociocultural Forces

55
Q

A new inventions and technology innovations

A

Technological Forces

56
Q

Under Industry Environment

A

Competitors
Customers
Creditors
Employees
Government
Suppliers

57
Q

Other business who can offer the same or similar goods and services to customers

A

Competitors

58
Q

An individual or a business that purchases another company’s goods or services

A

Customers

59
Q

That allows people to extend credit to another party

A

Creditors

60
Q

Someone that another person or company’s hires to perform a service

A

Employees

61
Q

Need to take into account the development opportunities of business

A

Government

62
Q

a person or an entity who delivers top-notch services and goods from manufacturers at reasonable costs to retailers or distributors for sale.

A

Suppliers

63
Q

Person with entrepreneurial interest sees possibility of business opportunities in any new discovery or because of the use of latest technology

A

Technological Advance and Discovery

64
Q

It is the priorities, projects, programs, and policies of the government are also good sources of ideas

A

Government Thrust, Programs, and Policies

65
Q

The interest, hobbies, and preferences of people are rich sources of entrepreneurial ideas

A

Peoples Interest

66
Q

The expertise and skill developed by a person who has worked in a particular field my read to the opening of a related business enterprise

A

Past Experiences

67
Q

Act or process of trying to get or win something

A

Competition

68
Q

The ones pay cash in exchange for your goods and services

A

Buyers

69
Q

Is defined as companies or business that have the ability to penetrate or enter into a particular industry

A

Potential New Entrants

70
Q

State or situation wherein business organizations are competing with each other in a particular market

A

Rivalry and Existing Firms

71
Q

One that serves the same purpose as another product in the market

A

Substitute Products

72
Q

One the provide something that is needed in business operations such as office and equipment

A

Suppliers

73
Q

That summarizes why a consumer should buy a company’s product or use it service

A

Value Proposition

74
Q

Refers to how you sell your product or services to your customer

A

Unique Selling Proposition

75
Q

It is a sage in market identification process that aims to determine the buyers with common needs and characteristics.

A

Target Market

76
Q

Under Geographic segmentation

A

Climate
Dominant ethnic group
Culture
Density

77
Q

Under Demographic Segmentation

A

Gender
Age
Income
Occupation
Education
Religion
Ethnic group
Family size

78
Q

Under Psychological segmentation

A

Needs and wants
Attitude
Social Class
Personality traits
Knowledge and awareness
Brand concept
Lifestyle

79
Q

Under Behavioral Segmentation

A

Perceptions
Knowledge
Reaction
Benefits
Loyalty
Responses

80
Q

Divided according to geographical location

A

Geographic Segmentation

81
Q

Divided based on customers

A

Demographic Segmentation

82
Q

Divided in terms of how customers think and believe

A

Psychological Segmentation

83
Q

Divided according to customers behavior pattern as they interact with a company

A

Behavioral Segmentation

84
Q

Specific characteristics that the customers need from a product or a service

A

Customers Requirement

85
Q

An intangible thing or a product that cannot be touched but the customer can feel the fulfillment

A

Service Requirements

86
Q

Tangible things or things that can be seen

A

Output Requirements

87
Q

It is the approximate number of sellers and buyers in a particular market.

A

Market Size

88
Q

Most common way to gather primary research with the use of questionaires or interview schedule.

A

Surveys

89
Q

Most reliable and credible ways of getting relevant information from target customer

A

Interview

90
Q

The interview normally last from _ to _minutes, but they can past longer, depending on the participants

A

15 to 40 minutes

91
Q

Traditional method of conducting an interview. It allows the researcher to establish relationship with potential participants and therefore gain their cooperation.

A

Personal interview

92
Q

Less expensive and less time-consuming

A

Telephone Interview

93
Q

An excellent method for generating and screening ideas and concepts

A

Focus Group Discussion

94
Q
A

Entrepreneur (2 decks)

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