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Midterm Exam > Technopreneurship > Flashcards

Technopreneurship Flashcards

1
Q

Group 1 Title.

A

Entreprenuerial Mindset, and Making Business Flyers with Brand Name, Logo and Catchy Tagline using Canva

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2
Q

It is the creation or extraction of economic value.

A

Entreprenuership

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3
Q

It is the process of designing, launching and running a new business, which is often similar to a small business, or as the “capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit.”

A

Entreprenuership

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4
Q

It is a combination of the words ‘technology’ and ‘entrepreneurship’. It is a type of technology-related entrepreneurship.

A

Technopreneurship

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5
Q

Is a set of skills that enables people to identify and make the most of opportunities, overcome and learn from setbacks, and succeed in a variety of settings.

A

Entrepreneurial Mindset

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6
Q

is also valued by
employers, boosts educational attainment and performance, and is crucial for creating new businesses.

A

Entrepreneurial Mindset

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7
Q

Four (4) Course Model Seed

A
  • Self-Mastery
  • Environment Mastery
  • Enterprise Mastery
  • Development of Business Plan
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8
Q

It is a passion comes from knowing yourself.

A

Self-Mastery

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9
Q

Self-mastery brings _____.

A

Passion

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10
Q

It is about generating business ideas and seeking opportunities out from his or her environment through:
* serendipity walks
* crises
* trends etc.

A

Environment Mastery

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11
Q

It is how to run a business.This pertains to the knowledge of the different enterprise disciplines.

A

Enterprise Mastery

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12
Q

Enterprise Mastery is how to run a business This pertains to the knowledge of the different enterprise disciplines such as:

A
  • Creating the Business
  • Marketing Management
  • Operations Management
  • Financial Management
  • Risk Management
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13
Q

Development of a business plan covers:

A
  • Writing the business plan
  • Presenting and defending the business plan
  • Adding refinements to the presented business plan
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14
Q

Four (4) types of Entrepreneurship

A
  • Incremental
  • Imitative
  • Rent-Seeking
  • Innovative
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15
Q

Routine business, modest novelty

Ex. (new coffee shop new BPO)

A

Incremental

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16
Q

Imitation of venture, same business model and template

Ex. new regional
branch, franchised
operations

A

Imitative

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17
Q

Business that utilizes standards, regulations and laws to share in value of enterprise

Ex. Coca Cola Export

A

Rent-Seeking

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18
Q

Business based on innovation

Ex. new memory chip

A

Innovative

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19
Q

Characteristics of an Entrepreneurship

A
  • Hard Working
  • Self-Confident
  • Builds for the Future
  • Profit-Oriented
  • Goal-Oriented
  • Persistent
  • Responds to feedback
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20
Q

Innovation composed of the following :

A
  • Creates Value
  • Changes
  • Improvements
  • New
  • Ideas
  • Novel
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21
Q

A new or improved product or process that differs significantly from the unit’s previous products or processes and that has been made available to potential users(product) or brought into use by the unit (process).

A

Innovation

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22
Q

Types of Innovation

A
  • Organization Innovation
  • Process Innovation
  • Product Innovation
  • Marketing Innovation
  • Eco-Innovation
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23
Q

It’s a dynamic process that needs implementation, that something is put into active use or made available, but it can take place in all sectors of an economy.

A
  • Business
  • Government
  • Household
  • NGOs
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24
Q

EXAMPLES OF FAMOUS INNOVATORS

A
  • Steve Jobs
  • Marie Curie
  • Elon Musk
  • Ann Kiessling
  • Nikola Tesla
  • Amanda Jones
  • Thomas Edison
  • Grace Hopper
  • Leonardo DaVinci
  • Josephine Cochrane
  • Alexander Graham Bell
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25
Q

Developed the Smartphone world with the Ipad.

A

Steve Jobs

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26
Q

Made great researchers radioactivity.

A

Marie Curie

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27
Q

Has been making great progress on luxurious electric cars.

A

Elon Musk

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28
Q

Made plenty of findings on the area of biology.

A

Ann Kiessling

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29
Q

Worked on the production, transmission and application of electric power.

A

Nikola Tesla

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30
Q

Was the inventor of vacuum method of canning.

A

Amanda Jones

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31
Q

Invented the incandescent electric light bulb.

A

Thomas Edison

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32
Q

Invented the first compiler for a computer programming language.

A

Grace Hopper

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33
Q

Among many other things, he invented the parachute.

A

Leonardo DaVinci

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34
Q

Invented the first mechanical dishwater.

A

Josephine Cochrane

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35
Q

Invented the first telephone.

A

Alexander Graham Bell

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36
Q

Investment that goes into software development, hardware assembly, network services and computer services.

A

Computer Software and Services

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37
Q

Convert your extra space into money by letting someone rent a room.

A

Rooms for rent Inns/Logding

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38
Q

Schools make money by putting up lockers and letting students use it for a fee.

A

Lockers for rent

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39
Q

There are a lot of people who took up vocational education.

A

One-Step appliance Repair Shop

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40
Q

A lot of people avoid organizing parties.

A

Event and Party Planner

41
Q

Filipinos love to eat especially meat, food vendors can be seen almost in every street.

A

Meat Shop and Meat Processing

42
Q

These have proved to be the most lucrative business not only in the malls but also on the streets.

A

Food Carts

43
Q

Philippines is blessed with different tropical fruits that can be blended into fresh juices and smoothies.

A

Fruit and Flavored Drinks

44
Q

Having a good location is also a good business with this type of business.

A

Hotdog, Barbecue and Burger Stands

45
Q

A type of business that proved its income generating capacity especially in middle class communities.

A

Car Wash and Motorbike Repair Shop

46
Q

Every business new or old need signs to promote their business.

A

Signs and Tarpaulin Printing

47
Q

Men and Women especially the young ones who loves to check out new fashion trends.

A

Fashion Accessories

48
Q

Some people look down to this business because its dirty and messy. But you would be surprise to how much money the owner gets.

A

Junk Shop and Recycling Centers

49
Q

Good business for animal lovers.

A

Pet Shop

50
Q

IS A TANGIBLE ITEM THAT YOU PURCHASE TO SATISFY A NEED OR WANT. A PRODUCT CAN BE SOMETHING AS SIMPLE AND NECESSARY AS GROCERIES, BUT IT ALSO INCLUDES ITEMS SUCH AS ELECTRONICS, CLOTHING, TOYS-THE POSSIBILITIES ARE ENDLESS!

A

Product

51
Q

IS A COMMITMENT TO DELIVER SOMETHING THAT BENEFITS ANOTHER PERSON. THE WORD SERVICE HAS BEEN USED FOR CENTURIES AND IN MANY DIFFERENT CONTEXTS, BUT IT IS OFTEN ASSOCIATED WITH JOBS SUCH AS WAIT STAFF OR CUSTOMER SERVICE.

A

Service

52
Q

Is a philosophy of job design in which employees are viewed as members of interdependent teams instead of as individual workers

A

Team Building

53
Q

What are the stages of Team Formation

A
  • Forming
  • Storming
  • Norming
  • Performing
  • Adjourning
54
Q

Members start to communicate their feelings but still view themselves as individuals rather than part of the team. They resist control by group leaders and show hostility.

A

Storming

55
Q

People feel part of the team and realize that they can achieve work if they accept other viewpoints.

A

Norming

56
Q

Team acquaints and establishes ground rules. Formalities are preserved and members are treated as strangers.

A

Forming

57
Q

The team works in an open and trusting atmosphere where flexibility is the key and hierarchy is of little importance.

A

Performing

58
Q

The team conducts an assessment of the year and implements at plan for transitioning roles and recognizing members contributions.

A

Adjourning

59
Q

Group 2 Title.

A

A Seminar Assisting Customers in Cost-cutting and Monetary Savings

60
Q

Examples of Expenses

A
  • Transportations
  • Food
  • Internet
  • Clothing
  • Beauty
  • Electronics
  • School Supplies
  • Miscellaneous
  • Entertainment
  • Personal wants
61
Q

How many percentage of college students worry they won’t have enough money to last the semester

A

38%

62
Q

Solutions (3) of the problem about spending.

A

1.) Categorize Your Expenses expenses can be divided into need, want, and goal categories in several ways.
2.) Budgeting the act of planning how you will spend your money.
3.) Keep Track of your Expense
maintaining track of all purchases over a period of time.

63
Q

Organizing your financial expenses into categories is the first step every college student should do to take control of their finances.

A

Categorize Your Expenses

64
Q

(Needs or Wants). Smartphones

A

Needs

65
Q

(Needs or Wants).
Softdrinks

A

Wants

66
Q

(Needs or Wants). Luxury Bag

A

Wants

67
Q

(Needs or Wants).
Transportation

A

Needs

68
Q

(Needs or Wants).
Foods

A

Needs

69
Q

(Needs or Wants).
Entertainments

A

Wants

70
Q

(Needs or Wants).
Vacations

A

Wants

71
Q

(Needs or Wants).
Internet

A

Needs

72
Q

(Needs or Wants).
Beauty

A

Wants

73
Q

(Needs or Wants).
Dining out

A

Wants

74
Q

(Needs or Wants).
Clothing

A

Needs

75
Q

(Needs or Wants).
Shopping

A

Wants

76
Q

(Needs or Wants).
Expenses

A

Needs

77
Q

(Needs or Wants).
Subscriptions

A

Wants

78
Q

Goals.

A
  • Savings
  • Emergency Funds
  • Debt Payments
  • Investments
79
Q

The process of creating and managing a financial plan that forecasts income and expenses for a time period is known as

A

Budgeting

80
Q

Budgeting Percentage

A

50% (Needs)
30% (Wants)
20% (Goals)

81
Q

Workshop used to track Expenses

A

MyMoney - Track Expense & Budget

82
Q

Group 3 Title.

A

Value Proposition

83
Q

It is a simple statement that summarizes why a customer would choose product or your service. It describes the benefits customers can expect from your products and services.

A

Value Proposition

84
Q

It is defined as a clear, simple statement of the benefits, both tangible and intangible, that the company will provide, along with the approximate price it will charge each customer segment for those benefits.

A

Value Proposition

85
Q

It is the fundamental reason a customer should buy from your company.

A

Value Proposition

86
Q

WHY IS VALUE PROPOSITION IS IMPORTANT?

A

a strong value proposition is crucial for a company’s success and survival.

87
Q

4 ESSENTIAL ELEMENTS OF VALUE PROPOSITION

A
  • Customer’s perspective
  • What’s in it for them?
  • Why choose to buy from you?
  • Prove it
88
Q

Your value proposition is not:

A
  • Mission and Vision Statement
  • An incentives
  • A catchphrase
  • It’s not a positioning statement
89
Q

5 IMPORTANT VALUE PROPOSITION CATEGORIES

A
  1. Productivity
  2. Profitability
    3.Image
  3. Experience
  4. Convenience
90
Q

Solutions/services that help customers improve their output, reduce the amount of time in getting things done, or help them get things done faster and more efficiently are solutions with a productivity value proposition.

A

Productivity

91
Q

Service or solution providers that help customers reduce their costs, save money, or impact their bottom line, fall into the profitability value proposition category.

A

Profitability

92
Q

It is always an interesting component in the value proposition offering. A company’s image is important in how its customers (current/future) see them.

A

Image

93
Q

Customers measure their willingness to continue doing business with an organisation based on their experience while interacting with that service provider or the satisfaction received while using the item.

A

Experience

94
Q

Convenience in the value proposition offering can be summed up as the customer’s “ease of doing business” with you.

A

Convenience

95
Q

HOW TO WRITE A UNIQUE VALUE PROPOSITION

A
  • Specific
  • Pain-focused
  • Exclusive
96
Q

10 STEP PROCESS

A
  1. Start with core competencies
  2. Study your customers
  3. Turn core competencies into values
  4. Study the competition
  5. Look at trends in your industry 6. Articulate or define the company vision
  6. Identify one core value
  7. Build a value chain
  8. Articulate the value proposition
  9. Test the value
97
Q

SIGNS OF POOR VALUE PROPOSITION

A
  • Difficulty getting high level appointments
  • Lack of focus in engagements and client work, are you trying to be all things to all people
  • Difficulty in getting new projects despite a clear set of skills, tools and methodology that would benefit your prospective customers
  • No clear message on your marketing materials, is your website only a list of features?
  • No clear differentiation between you and your competitors.
  • Feature based marketing
  • Reliance on incentives, rebates or discounts to win customers
  • Competitive bids situations come down to price
  • Prospects seem confused by your product and service offering
  • Marketing campaigns deliver low response rates and lukewarm enquiries
  • You haven’t tested your value proposition
98
Q

Test II.

A

Write a value proposition

Midterm Exam (4 decks)

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