Midterms

• Intrapreneurship: refers to encouraging people to discover high risk, high reward concepts with the support of a big corporate organization
• Entrepreneurs Inside: almost the same with intrapreneurship, the difference is it can function under any type of organization whether big or small business
• What refers to a type of license bought by an entrepreneur as the franchise from an existing business?

  Buying a Franchise
• What refers to an entrepreneur who buys out the existing owner and takes the management and operations of the small business?

  Buying a Small Business
• Social Entrepreneurship: it means pursuing innovative applications that have the likelihood of solving community based problems
• What refers to a business that is owned and managed by members of the family that is usually handed down from generation to generation?

  Family Business
• What refers to an entrepreneur who constantly crops up with fresh ideas and starts a new business?

  Serial entrepreneurship
• Passion First: real entrepreneurs look for what really are important to them, what they truly wanted to, and then bring together their business around those things
• Everything is Possible: this mindset is about believing that entrepreneurs are capable of accomplishing unexpected results
• 100% Accountable: entrepreneurs always believe that they have the power to choose their responses to any circumstance because they have this () mindset
• We Are Connected: entrepreneurs believe they can achieve their dreams not by being alone, though they love to be independent
• Live Life to Give: most people now especially businesspeople want to offer their time and resources for a valuable cause. As people in business when they profit more, they tend to give more.
• Attitude of Gratefulness: most people also focus much of their thoughts on what they do not process. This mindset provides the recognition of all positives in every experience except for entrepreneurs.
• The Time is Now: this mindset for entrepreneurs refers to recognizing that all their powers exist in the moment
• Essentials of the Entrepreneurial Mind/Mindsets

  1. Passion First
  2. Everything is Possible
  3. 100% Accountable
  4. We Are Connected
  5. Live Life to Give
  6. Attitude of Gratefulness
  7. The Time is Now
• Types of Entrepreneurship/Entrepreneur

  • Intrapreneurship
  • Entrepreneurs Inside
  • Buying a Franchise
  • Buying a Small Business
  • Social Entrepreneurship
  • Family Business
  • Serial Entrepreneurship
• Identify: problems that customers are trying to solve or spending money to solve.
• Discover: actively searching for ideas where there is social and demographic changes, technology, political in the industry structure
• Enhance: taking ideas to have innovative twist or simply enhancing an idea.
• Anticipate: studying changes an analyzing future scenarios relating to social, technological, global changes, including the trends
• Target: defining and understanding a particular target market, validating new ides with early adaptors
• Hospitelization: hospitals that looks like a hotel
• Idea Generation to Opportunity Recognition

  • Identify
  • Discover
  • Enhance
  • Anticipate
  • Target