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18 Terms

1
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Entrepreneur

is comprehensively defined as someone who “creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying significant opportunities.

2
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Entrepreneurship

Refers to concept of developing and managing a business venture in order to gain profit by taking several risks in the corporate world it and willingness to start a new business.

3
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Achievement, Planning, Power

3 clusters of PEC

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Opportunity and Information Seeker

He/ She is a keen observer of environment and knows the needs of community

5
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Persistent and Determined

They will take repeated or different actions to overcome the hurdles of business.

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Commited

Entrepreneur do their best to satisfy customers and deliver what is promised

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Risk- Taking

Entrepreneur are known for taking calculated risks and doing tasks that are moderately challenging.

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Knowledgeable

Know the physical process of producing the products

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Honest and Trustworthy

Develop friendship and Loyalty. Should be honest and honorable.

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Highly Motivated

A successful entrepreneur is ambitious, sees the bigger picture, and makes things happen

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Goal Oriented

Knows how to set specific, measurable, attainable, realistic, and time bound (SMART) Goals

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Innovative

An imaginative mind with systematic planning

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Persuasive

Knows how to use the right strategies to influence or connect other people.

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Optimistic

Believes that something good will always happen and there are no circumstances strong enough to stop him or her from reaching the goals

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Self- Confidence

They have self awareness and belief in their own ability to complete a difficult task or meet a challenge.

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Excellent Planner

Planning involves strategic thinking and goal setting to achieve objectives by carefully maximizing the available resources

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Possesses People Skills

People skills refer to effective and efficient communication and establishing good relationship to the people working in and out your business

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Sound Decision Maker

Successful entrepreneurs have the ability to think quickly and make wise decisions towards a pre determined set of objective.