3rd Monthly Exam

Cards (57)

  • development of managerial capabilities this means that one of the benefits and entrepreneur gets is to develop his managerial skills
  • creation of organizations which means that because of entrepreneurships many organization will exist
  • improving standard of living this means that entrepreneurship can lift up the economic status of an individual
  • means of economic development this means that not only the life of the entrepreneur is improved but also the society where the business is located
  • the word entrepreneur was derived from the french verb enterprendre which means to undertake
  • entrepreneurship entrepreneurs are innovators willing to take risk to generate new ideas
  • initiate doing things even before being told
  • proactive classify opportunities and seize it
  • problem solver retain good relations with other people
  • perseverance he will pursue things to get done regardless of challenges
  • persuasion he can entice people to buy even if they don't
  • a planner a plan before doing things and doing things and do not fail to monitor it
  • risk taker willing to gamble but he will calculate it first
  • environmental factors political climate legal system economic and social conditions and market situations
  • decisive must be firm in making decisions
  • communicator entrepreneur must have a convincing power
  • leader that charisma to be obeyed by his employees
  • opportunity seeker an entrepreneur must have the ability to be first to see business chances
  • proactive preparing for possible future problems
  • risk taker courage to pursue their business ideas
  • innovative they do not stop improving
  • economic and dynamic activity economic activity that involves creation and operation of an enterprise few to creating value or wealth
  • innovative new ideas needs to be creative
  • profit potential meaning the entrepreneur can be compensated by his profit
  • risk bearing meaning the entrepreneur needs to gamble but wise enough to offset the risk
  • innovative entrepreneur those who always make new things by thinking of new ideas
  • imitating entrepreneur those who don't create new things but only follow the ideas of other entrepreneurs
  • fabian entrepreneurs those who are skeptical they don't initiate but follow only after their satisfied
  • drone entrepreneur this those who lives on the labor of others they are die hard conservatives even ready to suffer the loss of business
  • social entrepreneur those who initiate changes in the various fields such as education health human rights environment and enterprise development
  • entrepreneurial mind flame this allows the entrepreneur to see things in a very positive and optimistic way in the midst of difficult situation
  • entrepreneurial heart flame entrepreneurs driven passion they are attracted to discover satisfaction in the act and process of discovery
  • entrepreneurial gut game this refers to the ability of the entrepreneur of being initiative
  • changes in the environment entrepreneurial ideas arise when changes happen in the external environment a person with an entrepreneurial drive view this changes positively
  • external environment refers to the physical societal and industry environment with the business operates
  • climate weather conditions
  • natural resources such as minerals forest water and fertile land that occur in nature can be used for economic gain
  • wildlife includes all mammals birds reptiles fish etc that live in the wild
  • political forces includes all the laws rules and regulations that govern business practices as well as the permits approvals and licenses
  • economic forces such as income level and employment