MODULE 1 Flashcards by Alyza Mae Amil Arguelles

Q

This is the proactive process of developing a business venture to make a profit.

A

ENTREPRENEURSHIP

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What does ENTREPRENEURSHIP involves? (state the three)

A

1) Seeking opportunities for a market.
2) Establishing or operating a business out of opportunity.
3) Assessing its risks and rewards through close monitoring of the operations.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Social and Economic Benefits of Entrepreneurship (True or False)

1) Entrepreneurship produces LESS jobs that equate to an increase in national income.

A

FALSE

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Social and Economic Benefits of Entrepreneurship (True or False)

2) Entrepreneurship amplifies economic activities of different sectors of society.

A

TRUE

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Social and Economic Benefits of Entrepreneurship (True or False)

3) Entrepreneurship introduces NEW and INNOVATIVE products and services.

A

TRUE

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Social and Economic Benefits of Entrepreneurship (True or False)

4) Entrepreneurship IMPROVES people’s living standards.

A

TRUE

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Social and Economic Benefits of Entrepreneurship (True or False)

5) Entrepreneurship DISPERSES the economic power and creates equality.

A

TRUE

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Social and Economic Benefits of Entrepreneurship (True or False)

6) Entrepreneurship CONTROLS the local wealth and balances regional development.

A

TRUE

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Social and Economic Benefits of Entrepreneurship (True or False)

7) Entrepreneurship INCREASES social conflicts and political unrest.

A

FALSE

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Social and Economic Benefits of Entrepreneurship (True or False)

8) Entrepreneurship ELICITS economic independence and capital formation.

A

TRUE

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Give the EIGHT (8) Socio-Economic Benefits of Entrepreneurship

A

1) Entrepreneurship PRODUCES more jobs that equate to an increase in national income.
2) Entrepreneurship AMPLIFIES economic activities of different sectors of society.
3) Entrepreneurship INTRODUCES new and innovative products and services.
4) Entrepreneurship IMPROVES people’s living standards/
5) Entrepreneurship DISPERSES the economic power and creates equality.
6) Entrepreneurship CONTROLS the local wealth and balances regional development.
7) Entrepreneurship REDUCES social conflicts and political unrest.
8) Entrepreneurship elicits economic independence and capital formation.

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

02: Who is an Entrepreneur?

The word “entrepreneur” is of what origin?

A

FRENCH

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

02: Who is an Entrepreneur?

entre: between; prendre: ????

A

TO TAKE

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

02: Who is an Entrepreneur?

This is an unique individual who has the innate ability and extraordinary dedication to establish and manage a business, acknowledging all the risks and reaping its rewards.

A

ENTREPRENEUR

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

02: Who is an Entrepreneur?

TRUE OR FALSE?

As an entrepreneur, he or she innovates, executes his or her big ideas, and rarely procrastinates.

A

TRUE

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

02: Who is an Entrepreneur?

What are the FIVE (5) LEVELS of ENTREPRENEURIAL DEVELOPMENT?

A

THE SELF-EMPLOYED
THE MANAGER
THE LEADER
THE INVESTOR
THE TRUE ENTREPRENEUR

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

02: Who is an Entrepreneur?

Of the Five (5) Levels of Development, this want to DO THINGS ON THEIR OWN.

Study These Flashcards

A

THE SELF EMPLOYED

Q

02: Who is an Entrepreneur?

Of the Five (5) Levels of Development, they feel the need to STEP UP and ASK SOME HELP from people around them.

Study These Flashcards

A

THE MANAGER

Q

02: Who is an Entrepreneur?

Of the Five (5) Levels of Development, they ENJOY seeing people FLUORISH, stepping up, and PRODUCING great results with minimal supervision.

Study These Flashcards

A

THE LEADER

Q

02: Who is an Entrepreneur?

Of the Five (5) Levels of Development, they LOOK for more OPPORTUNITIES for their business to grow.

Study These Flashcards

A

THE INVESTOR

Q

02: Who is an Entrepreneur?

Of the Five (5) Levels of Development, they FULLY LEARNED, and continue to PRACTICE FOUR-STEP PROCESS of THINKING.

Study These Flashcards

A

THE TRUE ENTREPRENEUR

Q

02: Who is an Entrepreneur?

What is the FOUR (4) STEP PROCESS of THINKING?

Study These Flashcards

A

IDEALIZATION
VISUALIZATION
VERBALIZATION
MATERIALIZATION

Q

02: Who is an Entrepreneur?

Of the Four (4) Step Process of Thinking, this is the DREAM and DESIRE to BUILD an IDEAL ENVIRONMENT.

Study These Flashcards

A

IDEALIZATION

Q

02: Who is an Entrepreneur?

Of the Four (4) Step Process of Thinking, this is to CREATE PLANS to make the dream a REALITY.

Study These Flashcards

A

VISUALIZATION

02: Who is an Entrepreneur? Of the Four (4) Step Process of Thinking, this is the SHARING of THEIR IDEAS with other people.

3. VERBALIZATION

02: Who is an Entrepreneur? Of the Four (4) Step Process of Thinking, this when VISION becomes a REALITY.

4. MATERIALIZATION

03: Common and Core Competencies in Entrepreneurship What are the NINE (9) COMMON TRAITS of an ENTREPRENEUR?

1. PROACTIVE 2. AGENTS OF CHANGE 3. RISK TAKERS 4. HAVE A SHARP EYE FOR OPPORTUNITIES 5. SOCIABLE 6. NETWORKERS 7. DECISIVE 8. BALANCED 9. INNOVATIVE

03: Common and Core Competencies in Entrepreneurship Of the Nine (9) Common Traits, this trait address issues, problems, and challenges before they come.

PROACTIVE

03: Common and Core Competencies in Entrepreneurship Of the Nine (9) Common Traits, this trait see opportunities in hopeless and complex situations.

AGENTS OF CHANGE

03: Common and Core Competencies in Entrepreneurship Of the Nine (9) Common Traits, this trait grabs opportunities left and right.

RISK TAKERS

03: Common and Core Competencies in Entrepreneurship Of the Nine (9) Common Traits, this trait have a talent of recognizing an opportunity

HAVE A SHARP EYE FOR OPPORTUNITIES

03: Common and Core Competencies in Entrepreneurship Of the Nine (9) Common Traits, this trait is to establish relationship with customers/

SOCIABLE

03: Common and Core Competencies in Entrepreneurship Of the Nine (9) Common Traits, knows the key people to connect with.

NETWORKERS

03: Common and Core Competencies in Entrepreneurship Of the Nine (9) Common Traits, this trait always have a decision about their business.

DECISIVE

03: Common and Core Competencies in Entrepreneurship Of the Nine (9) Common Traits, this trait should have a balance between analytical and creative side.

BALANCED

03: Common and Core Competencies in Entrepreneurship Of the Nine (9) Common Traits, this trait is rich with big ideas.

INNOVATIVE

03: Common and Core Competencies in Entrepreneurship What are the FOUR (4) CORE TRAITS of an entrepreneeur?

1. LEADERS 2. COMMUNICATORS 3. SPECIALISTS 4. PROBLEM SOLVERS

03: Common and Core Competencies in Entrepreneurship Of the Four (4) Core Traits, this core trait should always have the heart of a leader.

LEADERS

03: Common and Core Competencies in Entrepreneurship Of the Four (4) Core Traits, this core trait should know how to use all forms of communications.

COMMUNICATORS

03: Common and Core Competencies in Entrepreneurship Of the Four (4) Core Traits, this core trait should be experts in their chosen business.

SPECIALISTS

03: Common and Core Competencies in Entrepreneurship Of the Four (4) Core Traits, this core trait should possess critical thinking skills.

PROBLEM SOLVERS

04: Careers in Entrepreneurship State at least FIVE (5) Common Small Businesses.

1. SARI-SARI STORE 2. RICE-RETAILING 3. FOOD CART BUSINESS 4. PRINTING BUSINESS 5. BUY-AND-SELL BUSINESS 6. STREET FOOD BUSINESS 7. FLEA MARKET BUSINESS 8. ONLINE SELLING BUSINESS 9. CELLPHONE LOADING BUSINESS 10. LAUNDRY AND DRY CLEANING BUSINESS 11. HAIR STYLING AND MAKEUP BUSINESS 12. SPA, GYM, AND NAIL CARE BUSINESS 13. VIDEO AND PHOTOGRAPHY BUSINESS 14. TUTORIAL BUSINESS 15. BAKING BUSINESS 16. WEBSITE DEVELOPMENT AND DESIGN/BLOGGING 17. DIRECT SELLING BUSINESS 18. CAR WASH AND CAR CARE BUSINESS 19. BAR, CAFE, AND RESTAURANT 20. WATER STATION AND LPG STATION