Chapter 1
They are willing to assume calculated risks as they look for ways to satisfy the needs and wants of others through innovation.
What is an Entrepreneur?
Self-Confident, Perceptive, Hard-Working, Motivated, Resourceful,Able to Manage Risk, Creative, Goal-Oriented, Optimistic, Flexible, Independent, Visionary and Able to Get Along With Others.
What are the characteristics of successful entrepreneurs?
Specific, Measurable, Attainable, Relevant, Time-Bound and Worthwhile.
What are SMART Goals?
Something that is essential to life.
What is a Need?
Being my own boss, doing something I love to do and virtually unlimited earning potential.
What are some advantages of being an Entrepreneur?
For Profit/Not-For-Profit, Large Scale/Small Scale, Service Production/Goods Production, Physical/Virtual and Local/Provincial/National/International.
What are the Characteristics of Entrepreneurial Ventures?
Communicate, Generate Ideas, Identify Opportunities, Plan, Organize, Make Decisions, Solve Problems, Negotiate, Network, Market Their Ideas, Keep Records and Lead Others.
What are the skills of successful entrepreneurs?
Strengths and Weaknesses
What are the internal components of a SWOT analysis?
A human desire that is not essential for survival.
What is a Want?
Ventures that are created for social or community services purposes.
What are Not-For-Profits?
In order to compete more effectively, many countries have entered into these.
What are Trade Agreements?
Inventor, Innovator, Manager, Administrator, Leader, Custodian and Chief Executive Officer.
What are some of the roles of an entrepreneur?
Opportunities and Threats.
What are the external components of a SWOT analysis?
A process by which necessary items are obtained at the moment when they are needed, rather than stored in advance.
What is Just-In-Time?
The Ottawa RedBlacks
What is Mr. Wilson's favourite football team
Job Creation, New Ideas, Economic Benefits and Political Benefits
What are some of the ways Entrepreneurs positively impact their community?
To be my own boss, To achieve a sense of personal accomplishment, To have an element of variety and adventure, To make better use of my training and skills and To have considerable freedom to adopt my own approach to work.
What are some of the most important motivators for entrepreneurs?
More significant events that you reach by completing a number of steppingstones.
What are Milestones?
A compromise people make when they choose between two or more items.
What is a Trade-Off?
Minimal experience, credit history and collateral.
What are some of the challenges young entrepreneurs face?
These have made it possible for small businesses to compete with much larger businesses.
What is the internet and the growth of e-commerce?
To continue a family tradition, To do the only thing I could, To contribute to the welfare of my ethnic group, To leave an insecure work environment and To follow the example of a person I admire.
What are some of the least important motivators for entrepreneurs?
Think First, Believe in Yourself, Know Yourself and Enjoy the Challenge.
What are strategies for entrepreneurial success?
The skills required to communicate with, motivate and encourage others.
What are Interpersonal Skills?
The ability to interact with people and develop business relationships with them.
What is Networking?