Introduction to Entrepreneurship

These flashcards cover key terms and concepts related to entrepreneurship, providing definitions to help students better understand essential terminology.

Entrepreneurship

The process of creating and managing a new business venture.

Managerial Capabilities

Skills and competencies that enable an entrepreneur to manage their business effectively.

Economic Development

The improvement of economic well-being and quality of life for a community by creating and retaining jobs.

Innovator

An entrepreneur who introduces new ideas or products in the market.

Risk-taker

An individual who is willing to take risks to achieve business goals.

Proactive

The ability to anticipate future needs or challenges and act accordingly.

Decisive

An entrepreneur's ability to make firm decisions promptly.

Persuasion

The skill of convincing others to accept ideas or purchase goods.

Core Competencies

Essential abilities or skills that are critical for success in entrepreneurship.

Social Entrepreneurs

Individuals who aim to create social change through innovative business solutions.

Imitating Entrepreneurs

Entrepreneurs who follow established business ideas rather than creating new ones.

Fabian Entrepreneurs

Entrepreneurs who are hesitant to change and will only do so after seeing others succeed.

Drone Entrepreneurs

Entrepreneurs who resist change and prefer to continue with traditional practices.

Business Consultant

A professional who provides expert advice to businesses and entrepreneurs.

Researcher

An individual who investigates business trends and consumer behavior, often employed by companies.

Enumerate types of entrepreneurs

Enumerate career opportunity of entrepreneurship

business consultant

researcher

business reporter

teacher

sales

enumerate