Lesson 1 Entrepreneurship: Overview and Concepts
Cards (11)
- An entrepreneur is a person who creates unique ideas that will be useful for starting a business
- Entrepreneurship is the science of converting processed ideas into a remarkable business venture
- Importance of Entrepreneurship Education:
- Key economic driver
- Increases the level of knowledge, competence and improves the quality of life
- Provides an alternative career path
- Entrepreneurship Common Competencies:
- Competencies are considered as the capability, capacity and ability of the learner in handling situations in various areas in business operations such as in marketing, management, production, and finance.
- Competencies For Entrepreneurial Success:
- Integrity:
- An entrepreneur knows what is good and right
- Does what is best for everyone and does not act without thinking
- Conceptual Thinking:
- Review outcome projects to understand where problems occurred
- Check the impact of proposed solutions on customers and employees
- Strategic Thinking:
- Finds ways to do things faster or at less cost
- Decisiveness:
- Switches to an alternative strategy to reach a goal
- Generates new ideas and innovative solutions
- A good entrepreneur knows what his or her customer needs to satisfy them and build a long-term relationship
- The common competencies are the skills needed to start a business, while the 10 competencies discussed are the skills needed to be a successful entrepreneur
- Customer Relations Service:A good entrepreneur knows what his or her customer needs in order to satisfy them and have a long term relationship.
- Competencies For Entrepreneurial Success
- Customer Relations Service:
- A good entrepreneur knows what his or her customer needs in order to satisfy them and have a long term relationship.
- Other Competencies for Entrepreneurial Success
- Risk-taking
- Collaboration
- Commercial Aptitude
- Optimism
- People-Centered
- Common entrepreneurial competencies include:
- Specific Goal Setting
- Self-Efficacy
- Need for Achievement
- Ambition
- Willingness to Learn
- Adaptability and Flexibility
- Willingness to Take Risk
- Interpersonal Skills