GE11

entreprendre

(from the French word_________ which means to undertake)

Entrepreneurship spurs economic growth

. New products and services are developed/innovated by entrepreneurs which create domino effect as it addresses the needs and wants of the consumers which stimulate market operations which contribute to continuous economic growth and development

Entrepreneurship adds to the national income of the country.

. When new ventures are explored by the entrepreneurs, it generates income both for the people and the government.

Intrapreneurship

As companies threatened with new ideas and competition, they tend to look for a person who possess a skill of wielding this challenge into something that can brought success.The activity of doing so is called

unfair market practices, pervasive corruption, financial crisis and even criminal activity

As new and more sophisticated things rising in the horizon, policymakers tend to regulate this activity to avoid any unwanted activities such as _____________________.

Entrepreneurship gives rise to sound government policies

As new and more sophisticated things rising in the horizon, policymakers tend to regulate this activity to avoid any unwanted activities such as unfair market practices, pervasive corruption, financial crisis and even criminal activity. This further enrich the ideas of creating proactive policies to prevent anticipated irregularities.

Entrepreneurship creates social change.

As new products and services come into being, society tends to break away from traditions.

TRue

Before becoming a successful one, famous entrepreneurs also quit

Entrepreneurship is all about money

Common Myths About Entrepreneurship In starting a business, money is one of the essential things to consider among others, but to become an entrepreneur money is not everything.

Entrepreneurship is all about risk taking and gambling

Common Myths About Entrepreneurship Despite uncertainties, entrepreneurs tend to calculate the risks before entering into a new venture or opportunity.

Entrepreneurs know everything

Common Myths About Entrepreneurship Entrepreneurs accept mistakes and solicit ideas for improvement. Entrepreneurs listen to criticisms as these can lead into a more productive decision.

Entrepreneurs are the boss.

Common Myths About Entrepreneurship Entrepreneurs need to make reports out of the business transactions.

Entrepreneurship is all about risk taking and gambling

Common Myths About Entrepreneurship Entrepreneurs will not enter into a fight if they know that the odds are against them

Entrepreneurship is unstructured and chaotic

Common Myths About Entrepreneurship Entrepreneurship is a system that needs coordination among the players in the markets (consumers and producers).

Entrepreneurs know everything

Common Myths About Entrepreneurship Entrepreneurship is all about trying, failing then try again. No one is ahead, entrepreneurs believe that learning is a two-way process.

Entrepreneurship is fun

Common Myths About Entrepreneurship Other entrepreneurs have experienced ups and downs and because of these challenges, sometimes you can say that you do not belong in this profession

Entrepreneurship is all about risk taking and gambling

Common Myths About Entrepreneurship Setting up calculated risk is an essential skill for every entrepreneur as it guides them to come up with decisions that can lead them to success that they wanted from the start

Entrepreneurship is unstructured and chaotic

Common Myths About Entrepreneurship This myth basically makes potential entrepreneurs to be afraid of entering into the activity.

Entrepreneurship is all about inventing something new

Common Myths About Entrepreneurship Yes, discovering new things or innovating some things tend to help you become a good entrepreneur. But that is not the way in entrepreneurship

Entrepreneurs are the boss.

Common Myths About Entrepreneurship Yes, you are the in charge of your successful business, but you need to make reports to establish historical transactions, decisions which lead to either success or flunk.

Entrepreneurship is all about money

Common Myths About Entrepreneurship You can capitalize on your skills (e.g. communication skills such writing and speaking), abilities (literary, dancing or speaking) and technical knowledge.

interest rates, regulations, macroeconomic activity, technology, and some industry variables like competition

Context includes_________________

Money and risk

Deals allocate ____ and ____ and therefore affect the value of ventures.

MYTH

Entrepreneurs do not quit!

MYTH

Entrepreneurs know everything!

Entrepreneurship creates community development.

Entrepreneurship does not refer to money or profit alone, it also aims to contribute community development by supporting charities and other non-government organization (NGO) in their quest of spurring further development to a certain region

MYTH

Entrepreneurship is all about money

Deals

Example of these ___ range from contract of employment to investment contracts.

smart guesses" or hypotheses.

How do entrepreneurs think? However, before entrepreneurs create an action, he or she thinks of any available "_________-or_____

Entrepreneurs think in possibilities

How do entrepreneurs think? A simple but calculated possibility can make them jump out of their set and begin their move. As long as the much needed and important resources are intact, with no hesitations, entrepreneurs will deploy himself or herself into a whirlwind drive to success

Entrepreneurs think in possibilities

How do entrepreneurs think? Entrepreneurs does not ensure perfection before doing any action

Entrepreneurs think by actions

How do entrepreneurs think? Entrepreneurs tend to create their own theories and make it into action once opportunity enters the field.

Entrepreneurs think by actions

How do entrepreneurs think? It is not surprising that entrepreneurship is an avenue where actions are colliding with each other

Entrepreneurs think in possibilities

How do entrepreneurs think? To them, perfection is an enemy of progress.

Entrepreneurs think by actions

How do entrepreneurs think? entrepreneurs, given their insatiable ability, always crave for actions to innovate and look for opportunities

Entrepreneurship creates social change.

Importance of Entrepreneurship The curiosity of entrepreneurs created the principle of "only the word change is constant".

Entrepreneurship creates social change.

Importance of Entrepreneurship For example, a community without a water supply tends to experience minor development but due to curiosity of one entrepreneur, he or she undertakes the task of taking risk and build a sophisticated water pump machine which enables the water to reach far flung community and further increase the availability of water, lifting people out of from scarce water scenario

Opportunity

In economic terms, an __________ is a positive net present value project where the value of customer inflows exceeds the value of outflows to all resource providers.

customers

In some instances, even ______________ can be considered as part of the team/organization.

False

In the beginning of the human history, entrepreneurship is as complex as what it is now.

True

In the beginning of the human history, entrepreneurship is not as complex as what it is now.

Entrepreneurship adds to the national income of the country.

It also provides taxes to be used for the projects and programs necessary for development of the country

Entrepreneurship adds to the national income of the country.

It provides employment for the people which stimulate demand, thereby also addressing poverty and food hunger

An entrepreneur is a driver

Knowing yourself better: What/who is an entrepreneur? . A person who believes that they need to take in charge of something to make it into motion is an entrepreneur

An entrepreneur is accountable responsible

Knowing yourself better: What/who is an entrepreneur? An entrepreneur considers every possible outcome of his or her actions. If something went wrong from that action, it is your accountability as well as responsibility to face employees or consumers.

An entrepreneur is a starter

Knowing yourself better: What/who is an entrepreneur? An entrepreneur initiates changes and innovations to replace the obsolete ones. They are always on the top, transforming 'flash of brilliance' ideas in to a reality.

An entrepreneur is a starter

Knowing yourself better: What/who is an entrepreneur? An entrepreneur is always on the frontline searching and pursuing every available opportunity.

An entrepreneur is a driver

Knowing yourself better: What/who is an entrepreneur? An entrepreneur takes the lead

An entrepreneur is a driver

Knowing yourself better: What/who is an entrepreneur? Consider a car, an entrepreneur is the one who sits on the driver's seat, therefore, he or she must possess the ability of changing the direction, accelerating or slow down the car.

An entrepreneur is a driver

Knowing yourself better: What/who is an entrepreneur? Leadership is another primary requirement to become an entrepreneur. Leadership skills that can inspire others to follow or push others to do something innovative or different is another vocabulary that describes an entrepreneur.

An entrepreneur is accountable responsible

Knowing yourself better: What/who is an entrepreneur? Starting a business is a tedious task for everyone. Once you are there, it is your giant responsibility to make it in the right path

An entrepreneur is accountable responsible

Knowing yourself better: What/who is an entrepreneur? The future of the company (including your employees and consumers who depend on your product offerings and salaries) lies within your hands.

An entrepreneur is a starter

Knowing yourself better: What/who is an entrepreneur? entrepreneur always on the hunt for a possible business venture that can be created.

An entrepreneur is a starter

Knowing yourself better: What/who is an entrepreneur? n entrepreneur is the beginning or even the end of a business venture. An entrepreneur considers himself or herself the gasoline to run the very important entrepreneurial process.

intrapreneur

Modernization gives birth to entrepreneurship in other profession or what they called

Entrepreneurship creates social change.

New and sophisticated products and services replace the obsolete ones.

Entrepreneurs do not quit

People believe that quitting is a big mistake which tends to veer away of becoming an entrepreneur.

consumers and producers

Players in the Market

Calculated risk

Setting up ____________ is an essential skill for every entrepreneur as it guides them to come up with decisions that can lead them to success that they wanted from the start

True

Sometimes, the "never give up advice" is not the best advice

False

Sometimes, the "never give up advice" is the best advice

True

T OR F entrepreneurship is a complex activity

False

T Or F It is the primary requirement that you need to invent something new or create a sophisticated thing to be successful.

True

T oR F It is not the primary requirement that you need to invent something new or create a sophisticated thing to be successful. F

True

T or F Entrepreneurs stop operations of businesses when financial and economic indicators signal.

True

T or F Setting up calculated risk is an essential skill for every entrepreneur as it guides them to come up with decisions that can lead them to success that they wanted from the start

True

T or F Without these essential skills and knowledge, money will just come into your way and then disappear.

False

T or F entrepreneurs quit from their dreams or aspirations.

True

T or F entrepreneurs don't quit from their dreams or aspirations.

True

T or F quitting from something can make a person to become an entrepreneur.

FOunders, Employees, mentors/advisors, investors, suppliers and even customers

The category OF PEOPLE includes

Micro Small Medium Enterprises (MSMEs)

The development of______________________ also create opportunity to people and adds up to the national income of the country

Entrepreneurial Behavior

This behavior is one of the contributors to the principle of "only change is constant" (Kappel, 2016)

Social Entrepreneurship

This concept refers to the activity of undertaking the responsibility of creating societal driven ventures or any business that provides inclusivity to a certain location or individuals (Martin and Osberg, 2007).

Context

This includes, interest rates, regulations, macroeconomic activity, technology, and some industry variables like competition

TRUE

To create and capture value, a company must have a differentiated product or service and/or sustainable cost advantage. They must have benefits of scale including scale economies and/or network effects. Also, they must build mechanisms to which competition is managed. TRue or false

Deals

_______ allocate cash and risk and therefore affect the value of ventures. Example of these deals range from contract of employment to investment contracts.

Richard Cantillon- 17th

a French economist during the ______ century give this term. Entrepreneurship

Deals

are the direct and indirect contractual relationships between ventures and resource providers.

Entrepreneurs

are the one who take every available resource which is to be used and developed as an opportunity into money-making venture that address the needs of the country. H

Entrepreneurship

basically refers to any activity of undertaking risk

Entrepreneurship

define it as any activity which involved in the specialization of taking responsibility for and making judgmental decisions that contribute change to a certain location, the form and use of goods, resources or institution

Entrepreneur

from French word "entreprendre

Modernization

gives birth to entrepreneurship in other profession or what they called intrapreneur

Entrepreneur

is a concept which refers to a person who "undertakes" risk by utilizing every available opportunity and resources to start a new or revive an existing venture

Intrapreneurship

is a product of modernization

Entrepreneurship

is a scholarly term which refers to any activity undertaking tterm-1he risk of utilizing the available opportunity and resources to start a new or revive an existing venture

Opportunity

is an intended product or service for which customers will pay more than cost the venture it provided.

Accountability

is another challenging factor in entrepreneurship

entrepreneurship

is any 'undertaking' of adding value through time and effort

Social Entrepreneurship

it is a growing field of entrepreneurship, thanks to the growing study of impact evaluation of every new venture in the society, environment or economy.

Entrepreneur

opportunity and resources to start a new or revive an existing venture. also refers to a person who take responsibility in creating a sound decision that would provide transformation in a certain kind such as profession, ideas and opportunity

intrapreneur

person who utilize the characteristics, attitudes and mindset of an entrepreneur to contribute a creative and innovative ideas to further deepen the scope of every profession

Entrepreneurial Behavior

refers to a set of behaviors "willingly" performed in seeking new knowledge and innovative ideas that can change the status quo.

Context

refers to the factors that influence the possible outcome of the opportunity but generally it is an exogeneous factors which means outside of management's control.

People

the individuals who will have an important impact on a venture, whether or not, they are actual employees

Intrapreneurs

the person who possess a skill of wielding this challenge into something that can brought success

entrepreneurship

undertaking' of a person with independent mind and thought that aims to create change and innovation by taking every available risk and resources (Hayes, 2020).

entrepreneurship

undertaking' of doing things that are not generally done

market transaction/opportunity

you are not the boss, it's the___________ that compels you.