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ENTREP > TOPIC 1: EMPOWERING ENTREPRENEURS > Flashcards

TOPIC 1: EMPOWERING ENTREPRENEURS Flashcards

1
Q

WHAT IS BEING DEFINED?

-involves the ability to rapidly sense,
act, and mobilize, even under uncertain conditions
-inclination to discover, evaluate, and exploit opportunities
-ability to quickly sense, act, and get the organized under uncertain conditions.

A

Entrepreneurial Mindset

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2
Q

What is the trait being described?
-always ask “what if” and “why” and seek new and creative ways of learning and
doing.

A

Curiosity

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3
Q

What is the trait being described?
-recognize their potential for learning and achieving anything and the power
to stretch their brains and sharpen their minds.

A

Growth Mindset

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4
Q

What is the trait being described?
-dare to step out their comfort zone/s to accomplish great things.

A

Courage

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5
Q

What is the trait being described?
-learn to work through failure to create solutions for the problems they are passionate about.

A

Persistence and Grit

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6
Q

What is the trait being described?
-actively observe, identify, and act on circumstances where they can
innovate or solve a problem.

A

Opportunity-seeking

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7
Q

What is the trait being described?
-proactively develop creative solutions to the problems around them

A

Problem-solving.

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8
Q

What is the trait being described?
-see failure as a learning opportunity and a launchpad for their next success
or discovery.

A

Redefining Failure

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9
Q

What is the trait being described?
-need to be confident in their ability to innovate and in their potential for making an
impact.

A

Optimism

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10
Q

What is the trait being described?
-develop quick and clever ways to overcome challenges.

A

Resourcefulness.

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11
Q

What is the trait being described?
-make smart changes when challenges arise without losing heart or giving up

A

Adaptability

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12
Q

What is the trait being described?
-think about other people’s needs and feelings and keeping these in mind when
solving a problem.

A

Empathy

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13
Q

What entrepreneurial skillset is being described?
-being bold and imaginative and not limiting their thinking to what is already been done.

A

Creativity

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14
Q

What entrepreneurial skillset is being described?
-seek out teams with diverse perspectives, skills, and talents.

A

Teamwork

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15
Q

What entrepreneurial skillset is being described?
-The more ideas the better. Wildly and silly ideas are also welcome.

A

Idea Generation

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16
Q

What entrepreneurial skillset is being described?
- look for and analyze different patterns and trends to see if an idea will be successful and if it is the right time to get started

A

Opportunity Analysis

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17
Q

What entrepreneurial skillset is being described?
- It is important to gather information about the potential clients or customers. Entrepreneurs turn the customers idea into something that they will want.

A

Market Research and Customer Validation

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18
Q

What entrepreneurial skillset is being described
-to develop effective solutions, entrepreneurs need to put the user first and seek out
feedback to design with users in mind.

A

Design Thinking

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19
Q

What entrepreneurial skillset is being described?
-simple models to explain their idea, get feedback, and learn how their product can be improved.

A

Prototyping

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20
Q

What entrepreneurial skillset is being described?
-What will it cost to make your product?
-What should you charge?

A

Business Model Methodology.

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21
Q

What entrepreneurial skillset is being described?
-It is critical to rally the entrepreneur’s idea to people

A

Pitching

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22
Q

What entrepreneurial skillset is being described?
-When the entrepreneur has opportunities to speak about his/her idea, he/she want to do so
as effective as possible.

A

Public speaking

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23
Q

______________ are the ways in which people solve
problems such as reasoning, analyzing, experimenting, etc.

A

Cognitive strategies

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24
Q

Because working in uncertain environments “goes with the territory” in entrepreneurship, the entrepreneurial mindset requires
constant thinking and rethinking, _________ and ___________ the capacity to control our emotions and
impulses.

A

adaptability, self-regulation

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25
Q

__________the way in which to understand one’s performance or the process of thinking about thinking

A

Metacognition

26
Q

______________is part of the mindset, and it is not something that we are both with. It can be developed over time through continuous practice.

A

Metacognitive
awareness

27
Q

_____________ is an intense positive emotion, which is usually related to entrepreneurs who are engaged in meaningful ventures, or tasks and activities, and which has the effect of motivating and stimulating entrepreneurs to overcome obstacles and remain focused on their goals

A

Passion

28
Q

__________ is a sometimes unconscious pattern of behavior that is carried out often and regularly

A

habit

29
Q

__________is a process by which our brain decides whether a certain behavior should be stored and repeated.

A

habit loop

30
Q

There are three
habits that need to be cultivated for an entrepreneurial mindset:

A

self-leadership, creativity, and improvisation

31
Q

___________is a process whereby people can influence and control their
behavior, actions, and thinking to achieve the self-direction and self-motivation

A

self-leadership

32
Q

__________________helps increase self-awareness to manage behaviors particularly when dealing
with necessary but unpleasant tasks.

A

Behavior-focused strategies

33
Q

___________________raises one’s awareness of how, when, and why we behave the way he/she do in certain circumstances

A

Self-observation

34
Q

_______________ is the process of setting individual goals for ourselves.

A

Self-goal setting

35
Q

_______________is the ways in which an individual compensate himself/herself achieve their goals.

A

Self-reward

36
Q

__________________is a process that allows an individual to examine his/her own behaviors in a constructive way to reshape these behaviors

A

Self-punishment or self-correcting feedback

37
Q

______________is the process of prompting that act as a reminder of desired goals and keeps
an individual’s attention on what he/she are trying to achieve

A

Self-cuing

38
Q

_____________the art of spontaneously creating something without preparation

A

Improvisation

39
Q

_____________endeavors to make aspects of a task or activity more enjoyable by building in
certain features, or by reshaping perceptions to focus on the most positive aspects of the task and the value it
holds.

A

Natural reward strategies

40
Q

_____________help to form positive and productive ways of thinking that can be benefit
performance. It includes identifying destructive beliefs and assumptions and reframing those thoughts through
practicing self-talk and mental imagery.

A

Constructive thought pattern

41
Q

give 3 our of the six identified main emotional
roadblocks preventing people from practicing creativity:

A
  • fear
  • no appetite for chaos
  • preferences for judging over generating ideas
  • dislike for incubating ideas
  • perceived lack of challenged
  • inability to distinguish reality from fantasy
42
Q

________________ is a feeling of confidence that something exists, is true, or is good.
Beliefs can make ordinary people do great things.

A

Belief

43
Q

It refers to the determination
that governs how people think, act, and behave.

A

Resolve

44
Q

We are taught never to challenge those beliefs, and eventually make them part of our logic. To succeed, we sometimes have to break these mental barriers and myths
that may limit us.

A

Limiting Belief

45
Q

Limiting beliefs about identity and capability.

A

I am too young?
* Too old?
* Not Talented?
* Not smart enough?
* Not qualified enough?
* No luck for business?
* Lack the drive?

46
Q

Limiting beliefs about money

A

Money is difficult to earn.
* To be rich, you must already be rich.
* Money will lead to problems.
* Impossible to access money.
* Money is the root of all evil.

47
Q

Limiting beliefs about relationships and people.

A

Don’t have motivation?
* Lazy?
* Not a good speaker?
* Will never succeeds in business?
* Not creative enough?
* Cannot manage people?
* I must socialize and drink before I can network.
* People cannot be trusted.
* Marriages never lead to happy endings.
* “Perfect partner” for life is a myth.

48
Q

Limiting beliefs about my career or business.

A

Market is too saturated.
* My idea is already somewhere in the market.
* Business is tough.
* No one will trust my new idea.
* Hard to make money in recession.
* No opportunities out there.
* I cannot expand my business.
* Its hard to get a job if I quit.
* My business has reached its growth limit.

49
Q

Passion has been associated with wide range of positive effect such as:

A

strength and motivation, energy, drive, tenacity, strong initiative, resilience, love pride, pleasure enthusiasm and joy

50
Q

WG HM WK HT WS

A

what is my goal
how motivated am I?
what do I already know about this?
how much time will it take?
what strategy works best

51
Q

ABBREVIATION FOR ENTREPRENEURIAL TRAIT

A

CGC POP RO RAE

52
Q

ABBREVIATION FOR ENTREPRENEURIAL SKILLSET

A

CTIO MD PBPP

53
Q

____is not a predisposed condition

A

Mindset

54
Q

The goal must be….

A

tangible, specific, measurable, attainable, result-oriented, timebound

55
Q

Emotions like_____, ________, _______, and_____ hinders people from achieving success

A

fear, inertia, uncertainty and anxiety

56
Q

Emotions like______, ________, and _______ make things happen.

A

enthusiasm, motivation and confidence

57
Q

Being in denial does not solve the
problem. It may eventually come up, and you will still be unable to face it. Typical quote:
“I don’t think I can do this; I’m just not that kind of a person’.

A

. Pretend it never happened, or never try it at all

58
Q

Feeling helpless and frustrated may stop
you from taking further action, and you give up. You will reign in on your goals and
believe that the goals are out of reach. Giving excuses and giving up still does not solve
the problem. Typical quote:
* “I don’t think I’m good enough.”
* “I’m too young/old.”
* “I’m not as lucky as you!”
* “I always have it harder.”
* I’ve never won in this game before, so I’m not playing anymore.”

A

Giving excuses, blaming others, and giving up.

59
Q

Following the same strategy without
examining your failure does not help in overcoming the problem at all. Typical quote: *
“If I keep doing it, eventually I’ll succeed”.
* “I don’t think I tried hard enough.”

A

. Keep repeating the same thing over again

60
Q

Keep repeating the process until you
succeed. You need to understand your failure, reanalyze the strategy, change it if
necessary, and try out the new strategy, until you succeed. For example, Thomas Edison
took almost 10,000 attempts before inventing the light bulb. He used 9,999 failures as
his feedback to change his strategy to get to his goal.

A

Get Feedback, change strategy, and take action.

ENTREP (4 decks)

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