Entrepreneurship Concepts Overview

These flashcards cover key concepts related to entrepreneurship, including definitions, relevant factors, and competencies associated with successful entrepreneurs.

The term 'entrepreneurship' derives from a French term __, which means to undertake.

entreprende

Entrepreneurship is a process of developing, organizing, and managing a new business to generate profit while taking on __.

Entrepreneurship

One relevance of entrepreneurship to an organization is the development of __ capabilities.

managerial

A factor affecting entrepreneurship includes personal __ factors.

personality

An entrepreneur must possess the ability to do things even before being told, known as __.

initiative

The ability of an entrepreneur to classify opportunities and seize them is known as being __.

proactive

A good entrepreneur should be a __ solver, capable of retaining good relations with others.

problem

An important personality factor for entrepreneurs is __, which is the ability to pursue tasks regardless of challenges.

perseverance

An entrepreneur with the skill of __ can entice people to buy even when they don’t want to.

persuasion

An entrepreneur should be a __, making plans before acting and monitoring their completion.

planner

The willingness to gamble while calculating the situation first describes a __.

risk taker

Environmental factors affecting entrepreneurship include political, legal, and __ conditions.

economic

A common competency in entrepreneurs is being __ in decision-making.

decisive

Effective __ in entrepreneurship is important and involves having a convincing power.

communication

An entrepreneur should possess the charisma to be a good __.

leader

The ability to be the first to see business chances defines an __ seeker.

opportunity

An entrepreneur who can control a situation by preparing for future problems is described as __.

proactive

Having the courage to pursue business ideas defines a __ in an entrepreneur.

risk taker

Being __ means an entrepreneur is always looking for new ideas and is creative.

innovative

Entrepreneurship is an economic and dynamic activity that involves the creation and operation of an enterprise to create __ or wealth.

value

The concept of __ potential indicates the compensation an entrepreneur receives from business operations.

profit

Risk bearing in entrepreneurship means being wise enough to offset the __.

risk