Entrepreneurship Flashcards

Vocabulary flashcards covering key terms and concepts from the lecture notes on entrepreneurship ABM 12-01.

Entrepreneur

An individual who starts and manages a business.

Entrepreneurship

The process of creating or seizing an opportunity and pursuing it regardless of resources.

Howard H. Stevenson

Scholar who defined entrepreneurship as the process of creating or seizing opportunities and pursuing them regardless of resources.

Marife Agustin-Acierto

Science of converting processed ideas into a remarkable business venture.

Fajardo

A capacity for innovation, investment, and expansion into new markets and techniques.

Abigail Marquez (Lumpia Queen)

Top Filipino entrepreneur/content creator promoting Filipino food culture on TikTok.

Carl Ocab

Started his own internet marketing services company at the age of 12.

Matthew Cua

Founded SkyEye Analytics, a company using drones for aerial surveys, initially as a university project.

Aisa Mijeno

Co-founded SALt, providing lamps powered by saltwater for rural communities.

Avin Ong

Founder of the Fredley Group of Companies, holding master franchises for restaurant and cafe brands (including Macao Imperial Tea).

Leandro Leviste

Founder of Solar Philippines, developing and operating solar farms.

Reese Fernandez-Ruiz

Started Rags2Riches, a fashion/lifestyle brand helping artisans from marginalized communities.

Carmina Bayombong

Co-founded InvestEd, a platform providing student loans to underprivileged youth.

Rachel De Villa

Co-founded Cropital, a crowdfunding platform connecting investors with farmers.

Ralph Ray Chua

Chairman of Immuni Global Inc.; leads ventures in food, pharmaceuticals, real estate, and construction.

Stephen Co

Co-Founder/CEO of Worth The Health Foods and Nipa Brew Craft Beers; focused on sustainable food innovation.

Anya Lim

Co-Founder of ANTHILL Fabric Gallery, a social enterprise promoting indigenous weaving traditions.

Amanda Cua

Founded BackScoop, a newsletter covering the startup scene in Southeast Asia.

EMPRETEC

UN program; acronym for emprendedores (entrepreneurs) and tecnologia (technology) to develop entrepreneurial competencies.

Personal Entrepreneurial Competencies (PECs)

Ten traits that describe an entrepreneur’s entrepreneurial profile; framework used by EMPRETEC.

Power Behaviors (PECs cluster)

Third cluster of PECs: Persuasion and networking; Independence and self-confidence.

Achieving Behaviors (PECs cluster)

First cluster: Opportunity-seeking and initiative; Persistence; Fulfilling commitments; Demand for quality and efficiency; Taking calculated risks.

Planning Behaviors (PECs cluster)

Second cluster: Goal-setting; Information-seeking; Systematic planning and monitoring.

Vision

Having a clear vision provides purpose and direction; helps translate ideas into reality.

Interpersonal Skills

Ability to work well with people from diverse backgrounds and understand behavior.

What is an Entrepreneur?

“Entreprendre” is French for “to undertake”; an entrepreneur starts and leads a business venture.

Mega Entrepreneurs

Entrepreneurs who generate substantial value and profits from innovations quickly; crucial for rapid economic progress.

Micro Entrepreneurs

Entrepreneurs who start a business with limited value-added and profits; often as an alternative to formal employment.

Entrepreneurial Process

A system of steps: Discovery, Development of a Business Concept, Organizing Resources, Implementation.

Discovery

Recognition of a business idea or opportunities that could make money.

Development of a Business Concept

Stage that provides more details on how the idea can be realized and suggests a business plan.

Organizing Resources

Sourcing and financing the necessary human, non-human, and other resources.

Implementation

Carrying out the business plan; managing resources, rivals, growth, and threats.