Introduction to Entrepreneurship

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<p>The development team includes Joel Y. Yacas, Janice B. Dominguez, Naneth M. Valdehuesa, and Ronee D. Quicho.</p> Signup and view all the answers

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<p>There is a collaborative effort among multiple authors, indicating a pooling of expertise and diverse perspectives.</p> Signup and view all the answers

<p>Successful entrepreneurs commonly share traits such as innovation, risk-taking, perseverance, adaptability, and strong leadership skills.</p> Signup and view all the answers

<p>I admire Elon Musk for his innovation and willingness to take risks in developing groundbreaking technologies.</p> Signup and view all the answers

<p>Developing managerial capabilities is essential for entrepreneurs as it helps them effectively lead their organizations and make informed business decisions.</p> Signup and view all the answers

<p>Entrepreneurship improves the standard of living by creating jobs, increasing economic activity, and providing innovative products and services.</p> Signup and view all the answers

<p>Economic development refers to the positive impact entrepreneurs have in boosting local economies and enhancing the quality of life through new business ventures.</p> Signup and view all the answers

<p>Entrepreneurship is the process of creating and managing a new enterprise, derived from the French verb 'entreprendre,' meaning 'to undertake.'</p> Signup and view all the answers

<p>Entrepreneurs play a crucial role by initiating the establishment of organizations that provide employment and drive innovation.</p> Signup and view all the answers

<p>Two benefits of entrepreneurship for society are job creation and the promotion of innovation.</p> Signup and view all the answers

<p>A supplier provides the necessary goods or services that a business needs to operate effectively.</p> Signup and view all the answers

<p>A business model outlines how a company creates, delivers, and captures value, including its revenue streams and customer base.</p> Signup and view all the answers

<p>The value chain analyzes the series of steps a company takes to deliver a product or service, highlighting areas for efficiency and competitive advantage.</p> Signup and view all the answers

<p>A prototype product is an early model created to test design concepts and functionalities before full-scale production.</p> Signup and view all the answers

<p>A business plan usually includes an executive summary, market analysis, organizational structure, product line, sales strategy, and financial projections.</p> Signup and view all the answers

<p>The primary focus of entrepreneurship is to identify business opportunities and develop strategies to create and sustain successful ventures.</p> Signup and view all the answers

<p>The marketing mix is significant as it helps entrepreneurs determine the right product, price, place, and promotion strategies to effectively reach their target market.</p> Signup and view all the answers

<p>Two key components of financial statements are the income statement and the balance sheet.</p> Signup and view all the answers

<p>Entrepreneurship education helps high school students develop critical thinking, problem-solving, and leadership skills necessary for business success.</p> Signup and view all the answers

<p>The authors emphasize that understanding the local context, including cultural, economic, and social factors, is crucial for tailoring business strategies to meet community needs.</p> Signup and view all the answers

<p>Innovative</p> Signup and view all the answers

<p>Drone</p> Signup and view all the answers

<p>Imitating</p> Signup and view all the answers

<p>Make no changes with his product</p> Signup and view all the answers

<p>To undertake</p> Signup and view all the answers

<p>Proactive</p> Signup and view all the answers

<p>Persuasion</p> Signup and view all the answers

<p>Family background of the manager</p> Signup and view all the answers