Entrepreneur Mindset (Lessons 1–4) Flashcards

A complete set of vocabulary flashcards covering key definitions, types of entrepreneurs, concepts, and framework models from Entrepreneur Mindset Lessons 1 through 4.

Entrepreneurship

The process of recognizing, assessing, and pursuing opportunities to establish or expand a business.

Jean-Baptiste Say

The French economist who introduced the term 'entrepreneur'.

Joseph Schumpeter

An economist who believed that innovation is the driving force of entrepreneurship.

Opportunity Recognition

The ability of entrepreneurs to identify opportunities and take action to turn them into business ventures.

Global Entrepreneurship Monitor (GEM)

An organization that conducted surveys to determine Filipinos' views and attitudes toward entrepreneurship.

Employment Generation

A role of entrepreneurship involving the creation of employment opportunities through the establishment and expansion of businesses.

Innovation

The process of creating new or improved products, services, or business methods.

Risk-taking

The willingness of an entrepreneur to accept possible losses while pursuing business success.

Social Enterprises

A type of business that aims to solve social problems while still earning income.

Green Business / Entrepreneurship

A business model focused on environmentally friendly products and practices.

Solopreneurs

Entrepreneurs who operate independently without employees or business partners.

Intrapreneurs

Employees who act like entrepreneurs and develop innovative products, services, or processes within an existing organization.

Serial Entrepreneurs

Entrepreneurs who continuously create, develop, and launch new businesses after successfully managing previous ventures.

Lifestyle Entrepreneurs

Entrepreneurs who build businesses around their personal passion, hobbies, interests, or preferred way of living.

Scalable Startups

Startups that have the potential for rapid national or global expansion.

Niche Entrepreneurs

Entrepreneurs who serve a specific and specialized market segment.

Agripreneurs

Entrepreneurs involved in agriculture and agribusiness.

Tech Entrepreneurs

Entrepreneurs who develop technology-based products or services.

Digital Entrepreneurs

Entrepreneurs who operate their businesses mainly through online platforms and digital technologies.

Family Entrepreneurs

Entrepreneurs who manage or develop family-owned businesses.

MSMEs (Micro, Small, and Medium Enterprises)

A business sector considered a major source of employment opportunities in the Philippines.

Creative Entrepreneurs

Entrepreneurs who use artistic talents in areas such as arts, design, music, film, photography, fashion, and media to generate income.

Youth Entrepreneurs

Entrepreneurs who are often students or recent graduates using creativity, innovation, and digital technologies to start businesses.

Micro-Entrepreneurs

Entrepreneurs who operate very small businesses with limited capital and resources, such as market vendors and street food sellers.

Franchise Entrepreneurs

Entrepreneurs who invest in established businesses and operate using a recognized brand and proven business model.

Sequence of Business Opportunity

The progression leading to a business opportunity: Problem → Need → Solution → Opportunity.

Department of Trade and Industry (DTI)

The government agency in the Philippines where sole proprietors register their business name.

Self-Compassion

A personal development concept in which an entrepreneur treats themselves kindly after a setback and recognizes failure as part of the learning process.

Bayanihan

A Filipino value demonstrated by cooperative community effort, such as sharing resources and mutually supporting business recovery.

Challenges of Small Business Owners

Common obstacles including lack of resources, uncertainty, and financial risks.

SWOT Analysis

A tool that helps an entrepreneur examine internal and external factors affecting business success.

Inimitable

A characteristic required alongside valuable and rare for resources to serve as a source of competitive advantage.

Opportunist

A corporate entrepreneurship model that focuses on resource production and ownership authority across the organization.

Steps in Market Research

The sequential stages of market research: Objective → Research → Data → Analysis → Decision.