TLE 1st Quarter Flashcards
Those with the skills and capabilities to see and evaluate business opportunities.
Entrepreneurs
Agents of economic change; they organize, manage, and assume risks of a business.
Entrepreneurs
Both an art and science of converting business ideas into marketable products or services to improve the quality of living.
Entrepreneurship
It is a managerial tool used to assess the environment. It is used to gather important information which is then used in strategic planning.
SWOT Analysis
These are internal in an organization.
Strengths and Weaknesses
These exist in the external environment.
Opportunities and Threats
Working diligently and being consistent about it.
Hardworking
Entrepreneurs have self-reliance in one’s ability and judgment. They exhibit self-confidence to cope with the risks of operating their own business.
Confident
Successful entrepreneurs always stick to the plan and fight the temptation to do what is unimportant.
Disciplined
Nothing is permanent but change. Change occurs frequently. When you own a business, you should cope with and thrive on changes. Capitalize on positive changes
to make your business grow.
Ability to accept change
Successful entrepreneurs have the ability to think quickly and to make wise decisions towards a pre-determined set of objectives.
Sound Decision Maker
An entrepreneur should be creative and innovative to stay in the business and in order to have an edge over the other competitors.
Creative
You must put yourself in a position where you are responsible for the failure or success of your business.
Has the initiative
Planning involves strategic thinking and goal setting to achieve objectives by carefully maximizing all the available resources.
Excellent Planner
This is referring to a process of making a new product to be sold by a business or enterprise to its customers.
Product Development
A well-developed interpersonal skill can make a huge difference
between success and failure of the business.
Possesses People Skills
It should be based on given facts and information and lead towards the pre-determined objectives.
Sound Decision Maker