Questions and Answers
What state is Glen Allan (where the book takes place) located in?
Mississippi
The word ______ is defined as a mindset that allows the ordinary to accomplish the extraordinary.
Entrepreneurship
What is an unproven fact?
Assumption
What do we view as a fact, even if it may not be true?
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Uncle Cleve's main business venture in Glen Allan was delivering what precious resource?
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What does 'innate' mean?
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Where do our assumptions and beliefs come together?
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When we ___ to our circumstances, we take action to stimulus without much thought.
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When we ___ to our circumstances, we often determine our plan of action between the event and our action.
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What are things a company (or you) is good at called?
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What are unfavorable situations or events that are beyond your control called?
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What are favorable situations or events that are beyond your control called?
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What are things a company (or you) is not good at called?
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An analysis tool that helps companies make decisions is called a(n) _____ analysis.
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The____ mindset is the mindset of the groups around us, such as our peers, family, community, culture, etc.
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Study Notes
Key Terms and Concepts
- Mississippi: State where Glen Allan, the setting of the story, is located.
- Entrepreneurship: A mindset enabling ordinary individuals to achieve extraordinary outcomes.
- Assumption: An accepted notion that lacks empirical proof.
- Belief: A perception regarded as factual, regardless of its truthfulness.
Uncle Cleve and Business Ventures
- Ice: Primary business focus of Uncle Cleve in Glen Allan, emphasizing its historical significance as a valuable resource.
Personal Attributes and Mindset
- Innate: Refers to natural abilities or desires present from birth.
- Mindset: The combination of personal assumptions and beliefs that shapes an individual’s approach.
- Strengths: Areas of proficiency that can enhance individual or organizational effectiveness.
Reactions vs. Responses
- React: Immediate, often unconsidered response to a stimulus or situation, with minimal reflection.
- Respond: Thoughtful decision-making process that takes time to evaluate prior to taking action.
SWOT Analysis Framework
- Strengths: Competitive advantages or skills an entity possesses.
- Weaknesses: Limitations or areas needing improvement within an organization or individual.
- Opportunities: External favorable conditions that can be leveraged for success.
- Threats: External challenges or negative conditions beyond one's influence.
Collective Mindset
- Collective: The shared mindset influenced by surrounding groups such as peers, family, and cultural context.
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Description
Test your knowledge with these flashcards from Lesson 1 of 'Who Owns the Ice House?'. Each card features key terms and definitions essential to understanding the book's entrepreneurial mindset and concepts. Perfect for reinforcing your learning and preparing for discussions.
