(P) Lesson 2: The Entrepreneurial Mind-Set (transes/book-based) Flashcards
It is the mental aspect of an entrepreneur; used to refer to the mental function, mental processes (thoughts) and the mental states.
Entrepreneurial Cognition
Cognition came from the Latin “cognoscere”, means?
“to know”, “to conceptualize”, or “to recognize”
Refers to a faculty for the processing of information, applying knowledge, and changing preferences.
Cognition
This theory Introduces the idea of knowledge structures – mental models that are ordered to optimize personal effectiveness within given situations.
Social Cognition Theory
He/She defined Entrepreneurial Cognition as the knowledge structure people used in assessment, judgement or decisions involving opportunity evaluation, venture creation, and growth.
Researcher Ronald K. Mitchell (pati rin sila Lowell Busenitz, Theresa Lant, Patricia P. McDougall, Eric A. Morse, and J. Brock Smith but okay lang if si Ronald lang)
It refers to the unique way entrepreneurs mentally process information that helps them identify and invent new services, and to assemble the necessary resources to start and grow a business.
Entrepreneurial Cognition
It’s about understanding how entrepreneurs use simplifying mental modes to piece together previously unconnected information that helps them to identify and invent new products or services
Entrepreneurial Cognition
This is the ability to be dynamic, flexible, and self-regulating in one’s cognition given dynamic and uncertain environments.
cognitive adaptability
The awareness or analysis of one’s own
learning or thinking process.
metacognition bading
Strategies that help the entrepreneur
examine their cognitive processes that have led to the to the decisions they made.
Metacognitive strategies
T or F. The process responsible for ultimately selecting a response is a cognitive - the process responsible for ultimately selecting how the entrepreneur framing the task effectually and thus why and how the particular strategy was included in a set of alternative responses to the decision (is metacognition)
T
Who presented an outline of the entrepreneurial organization that reveals characteristics as imagination, flexibility and willingness to accept risks?
Howard Stevenson & David Gumpert
He examined the literature and found a diversity of entrepreneurial characteristics.
Willam Gartner
T or F. John Hornaday examined various research sources and formulated a list of 30 characteristics often attributed to entrepreneurs.
F (42)
Imagine an entrepreneur who faces multiple setbacks and challenges while launching a new sustainable energy startup. Despite financial obstacles, technical difficulties, and market skepticism, the entrepreneur remains focused on their vision. They continuously adapt, learn from failures, and maintain an unwavering commitment to their mission.
What entrep characteristic is shown?
Determination and Perseverance
What entrep characteristic is shown?
Consider an entrepreneur who sets out to revolutionize the healthcare industry by developing an innovative telemedicine platform. They encounter fierce competition, regulatory hurdles, and technical complexities along the way. Despite these challenges, the entrepreneur remains relentlessly committed to their goal.
Drive to Achieve
Entrepreneurs are constantly aware of
opportunities that exist in everyday life.
Opportunity Orientation
They have a strong desire to know how well they are doing and how they might improve their performance.
Seeking feedback
Entrepreneurs are not intimidated by difficult situations;
Persistent Problem Solving
They are extremely persistent but, they are realistic in recognizing what they can and cannot do and where they can get help to solve difficult but unavoidable tasks.
Persistent Problem Solving
What trait is this:
They believe that their accomplishments and setbacks are within their own control and influence, and that they can affect the outcome of their actions.
Internal Locus of Control
What trait does this show:
Successful entrepreneurs can deal with
various setbacks and changes that
constantly confront them.
Tolerance for Ambiguity
Can be defined as the degree to which an individual is comfortable with uncertainty, unpredictability, conflicting directions, and multiple demands.
Tolerance for Ambiguity
They do everything possible to get the odds in their favor, and they often avoid taking unnecessary risks.
Calculated Rizz Taking
Trait? New ventures often possess a collective creativity that emerges from the joint efforts of the founders and personnel, and produces unique goods and services.
Creativity and Innovativeness
T or F. Even though not all entrepreneurs have predetermined visions for their firms, the vision develops over time as the individual begins to realize what the firm is and what it can become.
T
a fundamental emotional
experience for entrepreneurs.
Passion