Is the process of creating an enterprise or value to customers by an entreprenuer.

The word "entreprenuer"was derived from the French verb enterprende whic means?

This means that one of the benefits as an entreprenuer get is to develop his managerial Skills

Which means that because of entreprenuership manay organizations will exist

This means that entreprenuership can lift up the economic status of an individual

This means that not only the life of the entreprenuer is improved but also the society where the business is located.

Enumerate Relevance of Entreprenuership to an organization

Enumerate the two factors affecting entreprenuership

doing thinhs even before being told

which means he can classify opportunities and seize it

which means he can retain good relations with other people

meaning he will pursue things to get done regardless of challenges

means that he can entice people to buy even if they dont want to

he makes plans before doing things and does not fail to monitor it

which means that he is willing to gamble but he will calculate it first

an entreprenuer must be firm in making decisions

an entreprenuer must have a convincing power

an entreprenuer must have the charisma to be obeyed by his employees

an entreprenuer must have the ability to be the first to see business chances

an entreprenuer can control a situation by making things happen or by preparing for possible future problems

an entreprenuer has the courage to pursue business ideas

the entreprenuer has big business ideas and he does not stop improving and thinking of new worth while ideas for his business

entreprenuership is an economic activity because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilization of limited sources

the entreprenuer can be compensated by his profit coming from the operation

the entreprenuer needs to gamble but wise enough to offset the risk

What are the 5 types of entreprenuer

they are those who always make new things by thinking of new ideas.They have the ability to think newer,better and more economical ideas.

they are those who dont create new things but only follow the ideas of other entreprenuers

they are skeptical about changes to be made in the organization.They dont initiate but follow only after they satisfied

they ere those who live on the labor of others.they are die hard conservatives even ready to suffer the loss of business

they are those who initiate changes and drive social innovation and transformation in the various fields such as education,health,human rights,environment,and enterprise development

Enumerate The 5 career opportunities of entreprenuership

The entreprenuerial process of creating new venture

The creation of an entreprenurial idea leads to the entreprenuerial venture which in turn results in the identification of entreprenuerial opportunities

This allows the entreprenuer to see things in a very postive and optimistic way in the midst of difficult situation.

Entreprenuers are driven by passion they attatched to discover satisfaction in the act and process of discovery.

This refers to the ability of entreprenuer of being intuitive.This also known as intuition.

Enumerate Sources of Opportunities

It is the act or process of trying to get or win something.For example,the prices are lower when there is a competition among the stores

The ones that pay cadh in exchange for your goods and services.

Defined ad companies or business that have the ability to penetrate or enter into particular industry.

Is a state or situation wherein business organizations are competing with each other in a particular market.

Is one that serves the same purpose as another product in the market.

Are the one that provide something that is needed in business operations such as office supplies and services being offered is unstable the intensity of the threat is strong in this kind of competitive force in the industry.

Is a business or marketing statement that summarizes why a customer should buy a companys product or use its service.

This statement is often used to convince a costumer to purchase a particular product or service to add a form of value to their lives.

In creating VSP,entreprenuers will consider the basic elements

refers to how you sell your product or services to your costumers.

You will adress the wants and desires of your costumers.

Some tips for the entreprenuer on how to create an effective USP to target customers are;

Emphasizes how a product or service is different from its competitors

Shows how a product or service solves customers problems or improves their lives.

More flexible and adaptable

More deeply rooted in the companys core operations

Enumerate Three factors in determining customers

Is a sage in market identification process that aims to determine the buyers with common needs and characteristics.

Enumerate Methods in Market Segmentation

Tell which methods in Market segmentation this belongs to climate

Tell which methods in Market segmentation this belongs to Income

Tell which methods in Market segmentation this belongs to needs and wants

Tell which methods in Market segmentation this belongs to. knowledge

Tell which methods in Market segmentation this belongs to culture

Tell which methods in Market segmentation this belongs to gender

Tell which methods in Market segmentation this belongs to attitudes

Tell which methods in Market segmentation this belongs to loyalty

Tell which methods in Market segmentation this belongs to density(either rural k or urban)

Tell which methods in Market segmentation this belongs to dominant ethnic group

Tell which methods in Market segmentation this belongs to age

Tell which methods in Market segmentation this belongs to Occupation

Tell which methods in Market segmentation this belongs to social class

Tell which methods in Market segmentation this belongs to. personality traits

Tell which methods in Market segmentation this belongs to brand concept

Tell which methods in Market segmentation this belongs to. Knowledge and Awareness

Tell which methods in Market segmentation this belongs to Benefits

Tell which methods in Market segmentation this belongs to reaction

Are the specific characteristics that the customers need from a product or a service.

Enumerate the two types of customer requirement

An intangible or product that cannot be touched but the customer can feel the fulfillment

Tangible things that can be seen.Characteristics specifications that a consumer experts to be fulfilled in the product.

Is like a size of arena where the entreprenuers will play thier business

Defined as the process of gathering,anlayzing and interpreting the information about the products or the services to be offered for sale to the potential consumers in the market.

Is the most valuabe tool in any type of research study.Inaccurate data collection may cause mistakes and ultimately lead to invalid results

Enumerate 3 Collection Techniques

Are the most common way to gather primary research with the use of questionnares or interview schedule.This can be done via direct mail,over the phone,internet and face to face.

Is one of the most reliabe and credible ways of getting relevant information from target customers.It is typically done in person between researchers/entreprenuer and a respondent where the researcher ask pertinent questions that will give significant pieces on information about the problem that he will solve

Are the traditional method of comducting interview.It allows the researcher to establish relationship with potential participants and therefore gain their cooperation.It generates highest response rates in survey research.

Are less expensive and less time-consuming,but the disadvantages are that the response rate is not high as the face to face interview,but considerably higher than the mailed questionnare

Is an excellent method for generating and screening ideas and concepts.It can be moderated group interviews and brainstorming sessions that provide information on users needs and behaviors.

The researcher asks a standard set of questions and nothing more