1 ENTREP- EXAM 3RD QUARTER

Entrepreneurship

is a proactive process of developing a business venture to make a profit.

entrepreneur

is successful if the business that he or she envisioned has materialized into a thriving industry with regular costumers and financial gain

entrepreneurial Mindset

is defined as a way of thinking, reasoning, and behaving a perspective on seizing an opportunity, adopting a holistic approach, and building on leadership

entrepreneur

an individual who establishes a business to make profit, runs it even through the risks, and enjoys most of rewards.

 

entrepreneur

is usually described as an individual who establishes a business to make profit, runs it even through the risks, and enjoys most of rewards.

Self-reflection

is a process of introspection and self-analysis that helps entrepreneurs examine their thoughts

Reflection

is examining how you observe, think, feel, react, reason out, make assumptions, draw conclusions, evaluate outcomes, and act upon what you believe.

Selective Perception

- The tendency for individuals to pay attention to things in their environment that are only consistent with their own expectations or assumptions

Reflection skills

are essential for an entrepreneur to effectively discern what is going on around him or her and to ponder how he or she could better respond to various stimuli.

Experimentation

is trying out an approach or a solution and then learning from it. 

skill of experimentation

involves taking a concrete action to test an approach or several possible approaches. Experimentation is a learning-by-doing approach.

Creativity

is being open to new perspectives or other ways of looking at things that are better or of higher quality.

skill of creativity

is about unleashing your ideas, concepts, or approaches that have not been tried before. It allows you to innovate so as to differentiate your product or service.

Empathy

is the ability to put yourself in the shoes of another person to understand how that other person thinks and feels. Enabling you to better relate to that person.

Empathy skills

enable you to tailor your product or service offerings to the needs and wants of your customers.

skill of play

involves injecting some fun, excitement, and joy in what you are doing as you go through your tasks.

is about appreciating and developing a sense of fun and adventure as you pursue your goals.

Empathize

the starting point of your business venture should be human needs

Define

your chosen business should inspire you to identify and solve a problem

Ideate

involves generating and developing new ideas to address the needs of people

Prototype

involves creating a sample product or service offering that incorporated features and qualities desired by the target users or customers

Test

try out or sell out the sample product

Corporate Entrepreneurship

This type of entrepreneur-ship involves creating new products, ventures, or organizational renewal within large organizations.

Start-up Entrepreneurship

This type of entrepreneurship involves the creation or setting up of a new small business.

Start-up entrepreneur marshals

resources to seize a business opportunity to offer a product or a service for the purpose of generating profit (as a commercial enterprise) or generating both profit and creating a social impact (as a social enterprise)

Buying a Franchise

This form of entrepreneurship involves a franchise that minimizes some business risks for an entrepreneur. Franchising involves a plan of distribution where an individually owned business is run as a part of a large chain.

Franchise

– is a license purchased by an entrepreneur allowing one to trade under the name of that established business

Buying a Small Business

Buying an existing business is exactly what it sounds like. The buyer typically takes over full ownership of the business.

Social Entrepreneur

This type of entrepreneurship uses the business methods of a commercial enterprise to generate profit but it is more concerned in helping social cause or improving the welfare of disadvantage groups, such as the unemployed, farmers, fisherfolk, urban poor, and others.

Commercial Entrepreneurship

refers to income-generating  enterprises that are established mostly for the purpose of generating profits

Social Entrepreneurship

refers to income-generating enterprises that are established with more emphasis on social impact for the poor and other disadvantaged groups