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Questions and Answers
What are the three main components of the first day of Entrepreneurship class?
What are the three main components of the first day of Entrepreneurship class?
What is the name of the teacher in this Entrepreneurship class?
What is the name of the teacher in this Entrepreneurship class?
Ma'am Elay (Ms. Ellaine N.)
Entrepreneurship is a career that can easily be jumped into.
Entrepreneurship is a career that can easily be jumped into.
False
What is an elevator pitch?
What is an elevator pitch?
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Entrepreneurship is defined as the process of ______, designing, launching, developing, managing and running a business venture to make a profit.
Entrepreneurship is defined as the process of ______, designing, launching, developing, managing and running a business venture to make a profit.
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The capacity and willingness to organize, develop, and manage a business venture is considered part of the definition of entrepreneurship.
The capacity and willingness to organize, develop, and manage a business venture is considered part of the definition of entrepreneurship.
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What does profit refer to in the context of business?
What does profit refer to in the context of business?
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Profit is the money left after paying for business expenses.
Profit is the money left after paying for business expenses.
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What is the difference between a businessman and an entrepreneur?
What is the difference between a businessman and an entrepreneur?
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What is the 21st Century definition of Entrepreneurship? Choose all that apply.
What is the 21st Century definition of Entrepreneurship? Choose all that apply.
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What are the top 10 qualities of an entrepreneur?
What are the top 10 qualities of an entrepreneur?
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Study Notes
Entrepreneurship Class - Introduction
- Course designed to teach the critical role entrepreneurs play in the global economy.
- Students will learn foundational knowledge in entrepreneurial principles.
- Course covers start-up ventures, small businesses, and the broader entrepreneurial context.
First Day Introductions
- The teacher, the subject, and the student are key aspects of the class.
The Teacher
- Ms. Ellaine N. (Ma'am Elay) will be teaching the class.
- She is dedicated to sharing ideas and lessons to improve entrepreneurial skills.
The Subject
- Emphasis on developing fundamental knowledge of entrepreneurship.
- Course covers the planning, designing, launching, developing, managing and running a business
- It involves making a profit while taking calculated risks.
You (Students)
- Students are expected to actively participate.
- The first task involves an "elevator pitch" to impress a potential investor
What is Entrepreneurship?
- Entrepreneurship is defined as the act of planning, designing, launching, developing, managing, and running a business venture to make a profit.
- It also involves the capacity and willingness to organize, develop and manage a business
- Including the risks involved in a business endeavor
Profit
- Profit is the revenue left over after covering all business expenses.
- Profitability is vital for securing bank loans and attracting investors.
- Profitability impacts a company's ability to secure funding, operate effectively, and grow.
Entrepreneur vs. Businessman
- Entrepreneurs take calculated risks and focus on market leadership, innovation, and creating a unique business.
- Businessmen tend to stick with traditional approaches, avoid risk, and mainly focus on profit maximization.
21st Century Entrepreneurship
- It emphasizes building a successful career on one's own terms
- It requires clear goals, avoiding bosses, and not restricting yourself.
Top 10 Qualities of an Entrepreneur
- This section outlines important personality traits essential for success in entrepreneurship.
Entrepreneur as a Calling
- Entrepreneurship is not an easy career decision
- Encompasses valuable business skills, knowledge, and holistic qualities.
Qualities of a Successful Entrepreneur
- Certain inborn qualities are present in some people
- Some acquire these qualities over time.
- Qualities like confidence, risk-taking ability, initiative, communication skills, flexibility, clear objectives are vital for success.
Traits of Successful Entrepreneurs
- They have notable traits.
- It's not surprising that successful entrepreneurs share similar attributes.
- Critical qualities can be learned.
- Self-assessment and development of strengths is emphasized.
Specific Entrepreneurial Qualities
- Confidence: assurance in one's knowledge and abilities.
- Risk-Taking: willingness to take calculated risks.
- Courage: doing what others doubt is possible and consistently following through.
- Initiative: knowing when something needs to be done and taking action.
- Communication: strong interpersonal skills for connecting well with others.
- Flexibility: adaptability in a constantly changing world.
- Clear Objectives: understanding and committing to the business goals.
- Creativity: developing fresh and unique ideas.
- Decisiveness: making prompt and effective decisions.
- Good Personality: attracting and securing the trust of people to succeed.
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Description
This quiz explores the foundational principles of entrepreneurship, focusing on its critical role in the global economy. Students will engage with topics such as start-up ventures, small businesses, and the essentials of planning and managing a business. Active participation and practical tasks like the 'elevator pitch' are essential components of this entrepreneurial course.
