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Entrepreneur Flashcards

1
Q

The word entrepreneur originates from the French word…

A

entreprendre means “to undertake” (start a business)

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2
Q

is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.

A

entrepreneur

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3
Q

elements of entrepreneurship

A
  1. creativity and courage
  2. business idea
  3. business plan
  4. products and services
  5. vision and farsighted
  6. motivation and leadership
  7. innovation
  8. ambition
  9. self-confidence
  10. risk taking abilities
  11. entrepreneurial knowledege
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3
Q

is the propensity of mind to take calculated risks with confidence to achieve a pre-determined business or industrial objective

A

entrepreneurship

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4
Q

benefits of entrepreneurship

A
  1. opportunity to create own destiny
  2. opportunity to make a difference
  3. opportunity to reach to full potential
  4. opportunity to reap impressive profits
  5. opportunity to contribute to society.
  6. opportunity to do work with enjoyment
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5
Q

risks of entrepreneurs:

A
  1. competitive risk
  2. technological risk
  3. political and legal
  4. economical risk
  5. employee risk
  6. strategic risk
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5
Q

10 deadly mistakes of entrepreneurship

A
  • management mistakes
  • lack of experience
  • poor financial control
  • weak marketing efforts
  • uncontrolled growth
  • poor location
  • improper inventory control
  • incorrect pricing
  • entrepreneurial transition
  • failure to develop a strategic plan
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6
Q

concept of an entrepreneur:

A
  • it refers to a person
  • creator
  • organizer
  • decision maker
  • initiator
  • leader
  • motivation
  • risk taker
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7
Q

importance of entrepreneurship:

A
  • reduces poverty level
  • increases employment
  • fulfills the demand of people
  • helps to develop economic condition of a country
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8
Q

allows the entrepreneur to see things in a very positive and optimistic light in the midst of crisis or difficult situations.

A

entrepreneurial mind frame

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9
Q

crisis in chinese writing

A

danger and opportunity

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10
Q

is the great desire to attain a vision or fulfill a mission.

A

passion

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11
Q

is also about emotional intelligence or EQ, which is often manifested in the entrepreneurs efforts to nurture relationships with customers, employees, and suppliers.

A

heart flame

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12
Q

refers to the of the ability of the entrepreneur to sense without using five senses. Also known as INTUITION

A

entrepreneurial gut game

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13
Q

conceptualizes and designs a product that consumers find some use for.

A

creative mind

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14
Q

is the technology originator.

A

techniquel mind

15
Q

harnesses the potentials of new products by creating the market space for them.

A

business mind

16
Q

the seed of entrepreneurship is the ability to see things differently.

A

creativity

17
Q

is a relatively recent concept that focuses on employees of a company that have many of the attributes of entrepreneurs

A

intrapreneurship

17
Q

a person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk taking and innovation

A

intrapreneur

18
Q

one who sets up, maintains and assumes the financial risks of an internet business venture not to be confused with intrapreneur… They are the new breed of internet entrepreneurs

A

intrepreneur

entrepreneur (1 decks)

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