Topic 1

48問 • 1年前

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A ________________ is an entity in commerce and trade, usually having a profit motive.

Business

It is to be noted, however, that the people who conceptualized the firm are not ______________ with it. The entities are ______________ of one another.

synonymous, independent

An _________________ is one who combines the primary factors of production, namely land, labor and capital, in order to produce goods and services

entrepreneur

Primary Factors of Production :

Labor, Land, Capital, Entrepreneur

Merely selling products of merchandise _______ make you an entrepreneur.

does not

Entrepreneurs are ____________.

innovators

___________ seek to create scalable businesses within a short time frame.

Builders

Builders seek to create scalable businesses within a _______ time frame.

short

Types of Entrepreneurs

Builders, Opportunist, Innovator, Specialist

________ typically pass $5 million in revenue in the first two to four years and continue to build up until $100 million or beyond.

Builders

Builders typically pass ___ million in revenue in the first ____ to ____ years and continue to build up until _____ million or beyond.

5, 2, 4, 100

These individuals seek to build out a strong infrastructure by hiring the best talent and seeking the best investors.

Builders

Builders : These individuals seek to build out a _______ infrastructure by hiring the best talent and seeking the best investors.

strong

They have temperamental personalities that are suited to the fast growth they desire but can make personal and business relationships difficult.

Builders

Builders: They have temperamental personalities that are suited to the fast growth they desire but can make personal and business relationships _________

difficult

_______________ entrepreneurs are optimistic individuals with the ability to pick out financial opportunities, get in at the right time, stay on board during the time of growth, and exit when a business hits its peak.

Opportunistic

Opportunistic entrepreneurs are optimistic individuals with the ability to pick out financial opportunities, get in at the _____ time, _____ on board during the time of growth and _____ when a business hits its _____

right, stay, exit, peak

These types of entrepreneurs are concerned with profits and the wealth they will build, so they are attracted to ideas where they can create residual or renewal income.

Opportunist

Because they are looking to find well-timed opportunities, ______________ entrepreneurs can be impulsive.

opportunist

____________ are those rare individuals that come up with a great idea or product that no one has thought of before.

Innovators

Innovators are those ______ individuals that come up with a great idea or product that _______ has thought of before.

rare, no one

Innovators :

Thomas Edison, Steve Jobs, Mark Zuckerberg

These individuals worked on what they loved and found business opportunities through that.

Innovators

Rather than focusing on money, ____________ care more about the impact that their products and services have on society.

Innovators

These individuals are not the best at running a business as they are idea-generating individuals, so often they leave the day-to-day operations to those more capable in that respect.

Innovators

Innovators : These individuals are _____ the best at running a business as they are idea-generating individuals, so often they leave the day-to-day operations to those more capable in that respect.

not

_____________entrepreneurs are analytical and avoid risks, have a strong skill set in a specific area obtained through education or apprenticeship.

Specialist

____________ build out their business through networking and referrals, resulting in slower growth than a builder.

Specialist

Specialist : Specialist build out their business through networking and referrals, resulting in _________ growth than a __________.

slower, builder

They often getting their start after working for someone else.

Specialist

___________ entrepreneurship is the idea of opening a business without turning it into a large conglomerate or opening many chains.

Small Business

Types of Entrepreneurship

Small Business, Scalable Startup, Large Company, Social Entrepreneurship

Small business entrepreneurship is the idea of opening a business __________ turning it into a _______ conglomerate or opening many chains.

without, large

A single-location restaurant, one grocery shop, or a retail shop to sell your handmade goods would all be an example of ____________ entrepreneurship.

small business

These people usually invest their own money and succeed if their businesses turn a profit, which they live off.

Small Business

They don't have outside investors and will only take a loan if it helps continue the business.

Small Business

Small Business : They ______ have outside investors and will only take a loan if it helps continue the business.

don't

These are companies that start with a unique idea that can build to a large scale; think Silicon Valley.

Scalable Startup

Scalable Startup : These are companies that start with a unique idea that can build to a ________ scale; think Silicon Valley.

large

The hopes are to innovate with a unique product or service and continue growing the company, continuously scaling up as time moves on.

Scalable Startup

These types of companies often require investors and large amounts of capital to grow their idea and reach multiple markets.

Scalable Startup

________________ entrepreneurship is a new business division created within an existing company.

Large Company

The existing company may be well placed to branch out into other sectors or it may be well placed to become involved in new technology.

Large Company

CEOs of these companies either foresee a new market for the company or individuals within the company generate ideas that they bring to senior management to start the process.

Large Company

The goal of ________________ is to create a benefit to society and humankind.

social entrepreneurship

They focus on helping communities or the environment through their products and services.

Social Entrepreneurship

They are not driven by profits but rather by helping the world around them.

Social Entrepreneurship

7 Characteristic of Entrepreneurs :

1. Versatile 2. Flexible 3. Money Savvy 4. Resilient 5. Focused 6. Business Smart 7. Communicator

Topic 1

Mikyii · 67問 · 1年前

Topic 1