An Entrepreneur — Flashcards

Answer

Innovative entrepreneurs are those who introduce new products, new production methods, discover new markets or reorganize enterprises. They are aggressive risk-takers who exhibit cleverness in putting…

Answer

Imitative Entrepreneurs: Copy or adopt innovations made by others, are adaptive and flexible, organize factors of production. Example: Local mobile companies using same technology as big companies. Fa…

Answer

Competency is a set of defined behaviors that provide a structured guide for identifying, evaluating and developing behaviors in an individual. Entrepreneurial competencies are classified into three c…

Answer

When Jobs was forced out of Apple, he said it was 'the best thing that could have ever happened.' The heaviness of being successful was replaced by the lightness of being a beginner again. This freed …

Answer

The four core entrepreneurial values are: 1. Innovation and Creativity - ability to see new ways and make them work in practice 2. Independence or Self-reliance - strong ego drive, sense of ownership …

Answer

Business Ethics comprises the study of proper business policies and practices regarding potentially controversial issues like corporate governance, discrimination, and social responsibility. Ethics is…

Answer

Attitude is the way a person feels about something - a person, place, commodity, situation or idea. Three features: 1. Affects Behavior - People maintain consistency between attitude and behavior, lea…

Answer

Abraham Maslow's theory assumes people are motivated by five universal needs in hierarchical order: 1. Physiological Needs (lowest) - food, water, basic survival needs 2. Safety Needs - shelter, secur…