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Entrepreneur > Reviewer > Flashcards

Reviewer Flashcards

1
Q

It is the dynamic process of conceptualizing, financing, and running a business enterprise to provide goods and services and earn profits

A

Entrepreneurship

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2
Q

It is a skill, the mobilization of the factors of production to create products or services

A

Entrepreneurship

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3
Q

What are the 4 factors of production?

A

Labor, Capital, Land, Entrepreneur

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4
Q

It is a french word which means to undertake

A

Entreprendre

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5
Q

People who work at their own time and pace and don’t work for anyone but they can work for everyone

A

Freelancers

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6
Q

Improvement; Creative destruction

A

Innovation

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7
Q

Creation

A

Invention

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8
Q

There is no competition in the market

A

Monopoly

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9
Q

According to who? It improves the already existing products.

A

Innovation (Schumpeter)

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10
Q

According to who? It provides goods and services to build connections

A

Purposeful activity and creation of organizations (Cole)

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11
Q

According to who? Entrepreneurship is not a personality; it can be learned

A

Discipline (Drucker)

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12
Q

What are the learning styles of entrepreneurs?

A

Imagining Style
Analyzing Style
Deciding Style
Initiating Style
Balanced Style

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13
Q

It is an idea that can be developed into a business venture

A

Opportunity

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14
Q

What is the SPEET Environment?

A

Socio-cultural, Political, Economical, Ecological, Technology

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15
Q

What and where do we look at the unexpected opportunities?

A

Trends and technology

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16
Q

What and where do we look at the industry and market disparities opportunities?

A

SPEET environment

17
Q

What and where do we look at the process needs opportunities?

A

Weak spots and turn them into strengths

18
Q

What and where do we look at the incongruities opportunities?
Incongruity - not suitable or not fitting well with (Google, 2024)

A

Customer feedback

19
Q

What and where do we look at the demographic shifts opportunities?

A

Target market

20
Q

What and where do we look at the changes in perception opportunities?

A

Lifestyle changes; e.g. gym kulto, veganism

21
Q

What and where do we look at the new knowledge opportunities?

A

Inventions; e.g. COVID Vaccine

22
Q

It is when an entrepreneur is finding opportunities

A

Opportunity Seeking

23
Q

It is when an entrepreneur determines if the elements are good or bad.
NOTE: Not all opportunities are the best for business

A

Opportunity Screening

24
Q

It is when an entrepreneur starts the business

A

Opportunity Seizing

25
Q

In this enterprise life cycle, business ventures begin with an idea and testing the viability of an opportunity

A

Phase 1: Development

26
Q

In this enterprise life cycle, adaptability is the key and business concept should be tested and adjusted to meet the expectations

A

Phase 2: Start-up

27
Q

In this enterprise life cycle, the execution begins and sustainable profits are generated. Moreover, there are also the presence of growing competition

A

Phase 3: Growth

28
Q

In this enterprise life cycle, buy outs happen (bibilhin mo ‘yung ibang kompanya para bawas competitors mo; e.g. Jollibee to Greenwich, etc.).

A

Phase 4: Expansion

29
Q

It is a learning style of entrepreneur which uses concrete experiences

A

Imagining Style

30
Q

It is a learning style of entrepreneur which uses abstract information

A

Analyzing Style

31
Q

It is a learning style of entrepreneur which uses application of theory

A

Deciding Style

32
Q

It is a learning style of entrepreneur which uses social interactions

A

Initiating Style

33
Q

It is a learning style of entrepreneur which adapts in any situations
NOTE: It assesses the situation to determine which learning style to apply.

A

Balanced Style

Entrepreneur (1 decks)

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