Entrepreneurship Q1 (Quiz 1)

• Personality Factors includes:

  • Initiative
  • Proactive
  • Problem Solver
  • Perseverance
  • Persuasion
  • A planner
  • Risk-taker
• means doing things even before being told

  Initiative
• means he can classify opportunities and seize it

  Proactive
• means he can retain good relations with other people

  Problem Solver
• meaning he will pursue things to get done regardless of challenges

  Perseverance
• means that he can entice people to buy even if they don't

  Persuasion
• meaning he makes plan before doing things and do not fail to monitor it

  A planner
• means he is willing to gamble but he will calculate it first

  Risk-taker
• Relevance of Entrepreneurship to an organization

  • Development of Managerial capabilities
  • Creation of organizations
  • Improving standard of living
  • Means of economic development
• means that one of the benefits an entrepreneur gets is to develop his managerial skills

  Development of Managerial Capabilities
• means that because of entrepreneurships, many organization will exist

  Creation of organizations
• means that entrepreneurship can lift up the economic status of an individual

  Improving standard of living
• means that not only the life of the entrepreneurship is improved but also the society where the business is located

  Means of economic development
• The word "entrepreneur" was derived from the French verb

  enterprende
• enterprende means

  to undertake
• Common competencies in entrepreneurship

  1. Decisive
  2. Communicator
  3. Leader
  4. Opportunity seeker
  5. Proactive
  6. Risk taker
  7. Innovative
• firm in making decisions

  Decisive
• must have a convincing power

  Communicator
• must have the charisma to be obeyed by his employees

  Leader
• have the ability to be the first to see business chances

  Opportunity seeker
• controlling a situation by making things to happen or by preparing for possible future problems

  Proactive
• have the courage to pursue what is their business ideas

  Risk taker
• have big business ideas and they do not stop improving and thinking of new worthwhile ideas for their business

  Innovative
• Core competencies in entrepreneurship

  1. Economic and dynamic activity
  2. Innovative
  3. Profit Potential
  4. Risk bearing
• it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited resources

  Economic and dynamic activity
• constantly look for new ideas, thus he needs to be creative

  Innovative
• can be compensated by his profit coming from the operation

  Profit potential
• needs to gamble but wise enough to offset the risk

  Risk bearing
• Type of Entrepreneurs

  • Innovative
  • Imitating
  • Fabian
  • Drone
  • Social
• Career opportunities of Entrepreneurship

  • Business Consultant
  • Teacher
  • Researcher
  • Sales
  • Business Reporter
• with the expertise of the entrepreneur he can be a very good source of advices to other entrepreneurs and would be business man.

  Business Consultant
• a graduate of an entrepreneurship can be use his knowledge in teaching

  Teacher
• can be employed as researcher by an enterprise

  Researcher
• can be employed as salesman

  Sales
• being expert in the field, he can be employed as

  Business reporter
• have the ability to think newer, better and more economical ideas

  those who always make new things by thinking of new ideas

  Innovative Entrepreneurs
• people who follow the path show by innovative entrepreneurs

  those who don't create new things but only follow the ideas of other entrepreneurs

  Imitating Entrepreneurs
• skeptical about changes to be made in the organization

  don't initiate but follow only after they are satisfied

  Fabian Entrepreneurs
• person who lives on the labor of other

  die-hard conservatives even ready to suffer the loss of business

  Drone Entrepreneur
• drive social innovation and transformation in various fields including education, health, human rights, and many others

  initiate changes

  Social Entrepreneurs