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20 Cards in this Set
- Front
- Back
Entrepreneurship |
is a science of converting ideas into business. It is a process of actions of an entrepreneur who is always in search of something new to exploit new ideas into gainful opportunities by accepting the risk and uncertainty of the enterprise. It is about execution of ideas. It refers to the concept of developing and managing a business venture in order to gain profit by taking several risks in the corporate world. |
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Entrepreneurial Idea |
is a specific innovative way to satisfy want, overcome a problem, or meet a challenge. |
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Entrepreneurial Opportunity |
is defined as a want, problem, or challenge that can be addressed, solved, and/or satisfied by an innovative initiative. |
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Entrepreneur |
derived from the French verb enterprendre which means “to undertake”. They are innovators, willing to take risks and generate new ideas to create unique and potentially profitable solutions to modern-day problems. They are those who “undertake” the risk of new enterprise |
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Enterprise |
is an organization that is engage in commercial activities – the trade of goods or services, or both, with consumers. Its goal basically, is to earn profit. Profit is the return or compensation to the entrepreneur for taking on the risk of developing an idea into an actual business venture. It is created by an entrepreneur and the process of its creation is called entrepreneurship. |
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Initiative |
does things before being asked |
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Proactive |
identifies and utilizes opportunities |
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Perseverance |
works against all odds to overcome obstacles and is never complacent with success |
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Problem-solver |
introduces innovative solutions to any obstacles and problems in the enterprise |
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Persuasion |
convinces customers an financiers to patronize his business |
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Self-confidence |
makes decisions and sticks to his decisions |
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Self-critical |
learns from his mistakes and from experiences of others |
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A planner |
collects information, prepares a plan, and monitors performance |
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Risk-taker |
willing to take calculated risks |
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Creativity |
the ability to come up with clever, workable solutions |
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Business like Attitude |
possessing the knowledge of your chosen business and having the savvy to conduct business |
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Confidence |
having a firm belief in your own capabilities and your chances of success |
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Relation skills |
the ability to get along with others, to inspire cooperation, confidence and loyalty |
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Communication skills |
the ability to express yourself and to understand others so that ideas can be shared. |
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Ability to make decisions |
the talents to analyze complex situations and draw conclusions that will make the business succeed |