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BSA1A-ENTREPRENEURSHIP > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

Entrepreneurship

A
  • Originates in Europe
  • Comes from the French origin > Entreprendre > To undertake
  • It refers to the particular field of practice or process
  • the art of correct practice in managing and operating a self-own wealth-creating business enterprise by providing goods and services that are valuable to customers.
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2
Q

The art of correct practice in managing and operating a self-own wealth-creating business enterprise by providing goods and services that are valuable to customers.

A

Entrepreneurship

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3
Q

Originates in Europe.

A

Entrepreneurship

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4
Q

Comes from the French origin > Entreprendre > To undertake.

A

Entrepreneurship

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5
Q

It refers to the particular field of practice or process.

A

Entrepreneurship

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6
Q

French origin of Entrepreneurship.

A

Entreprendre

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7
Q

Entreprendre means?

A

To undertake

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8
Q

Entrepreneur

A
  • Inventor
  • Change Agent
  • Creative
  • Persistent
  • Having his own value system
  • Dealers
  • Business person
  • Tycoon
  • Trader
  • Merchant
  • Businessman
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9
Q

Entrepreneurship

A
  • Enterprise
  • Innovation
  • Employability
  • Internationalization
  • Sustainability
  • Ambitious
  • Dynamic
  • Progressive
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10
Q

It refers to undertaking a business endeavor though no specific reference as to whether it meant an undertaking the business for himself (self-owned or self-managed business)

A

Entrepreneurship

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11
Q

It meant an undertaking the business for himself.

A

Self-owned or self-managed business.

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12
Q

Doing it for someone else.

A

Employment in a business enterprise.

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13
Q

Entrepreneurship originated in?

A

Europe

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14
Q

Contemporary Views on Entrepreneurship

A
  • Lloyd Shefsky
  • Karl Vesper
  • Professor Robert Nelson
  • Joseph Schumpeter
  • Albert Shapero
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15
Q

Entrepreneurs are Made Not Born.

A

Lloyd Shefsky

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16
Q

He defined entrepreneur by dissecting the word “ Entrepreneur” into three parts.

A

Lloyd Shefsky

17
Q

An entrepreneur is someone who enters a business.

A

Lloyd Shefsky

18
Q

entre- _______

A

to enter

19
Q

pre - ______

A

before

20
Q

neur – ____________

A

nerve center

21
Q

He defined entrepreneur in a broader perspective- concern of various professions.

A

Karl Vesper

22
Q

Karl Vesper defined entrepreneur in a broader perspective- concern of various professions:

A
  • Economists
  • Psychologists
  • Businessman
23
Q

An entrepreneur – an ally, a source of supply, a customer, or someone good to invest.

A

Businessman

24
Q

An entrepreneur – is a person driven by a certain force: need to obtain or attain something

A

Psychologists

25
Q

An entrepreneur – is one who brings resources.

A

Economists

26
Q

An entrepreneur is a person who is able to look at the environment, identify opportunities to improve the environment, and implement action to maximize those opportunities.

A

Professor Robert Nelson

27
Q

Entrepreneurs are persons in work situations in large, medium, and small business enterprises, cooperative, and government.

A

Professor Robert Nelson

28
Q

An entrepreneur is doing things that are not generally done in the ordinary course of business.

A

Joseph Schumpeter

29
Q

An entrepreneur’s willingness to take calculated risks – both personal and financial.

A

Joseph Schumpeter

30
Q

An entrepreneur’s ability to build entrepreneurial or venture to complement your own skills and talents.

A

Joseph Schumpeter

31
Q

Initiative-taking

A

Albert Shapero

32
Q

Organizing and recognizing social/economic mechanisms to turn resources and situations into practical account

A

Albert Shapero

33
Q

Acceptance of risks and failure

A

Albert Shapero

34
Q

The process of creating something different with value by devoting your time and effort.

A

Albert Shapero

35
Q

He pointed out that entrepreneurship is a dynamic process of innovation and new-venture creation through five major dimensions.

A

Albert Shapero

36
Q

Albert Shapero pointed out that entrepreneurship is a dynamic process of innovation and new-venture creation through five major dimensions:

A
  • Individuals
  • Organization
  • Environment
  • Process
  • Institutions
37
Q

Socio-economic benefits of entrepreneurship:

A
  • Promotes self-help and unemployment
  • Mobilizes capital
  • Provide taxes to the economy
  • Empower individuals
  • Enhance national identity and pride
  • Enhance competitive consciousness
  • Improves quality of life
  • Enhance equitable distribution of income and wealth

BSA1A-ENTREPRENEURSHIP (1 decks)

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