Entrepreneurship Flashcard

Front

Process of considering, evaluating, and pursuing market-based activities advantageous for the firm.

Back

Opportunity – seeking

Front

Who are the ones who pay cash in exchange for your goods and services?

Back

Buyers

Front

Essential to opportunity-seeking in entrepreneurship, allowing a positive and optimistic view in crises.

Back

Entrepreneurial mind frame

Front

Ability of entrepreneur to sense without using the five senses, also known as intuition.

Back

Entrepreneurial gut game

Front

One of the essentials of entrepreneur’s opportunity-seeking that refers to the driven passion of an individual.

Back

Entrepreneurial heart flame

Front

What variable of societal environment includes income level and employment rate?

Back

Economic forces

Front

Factors of substitute product posing a threat in industry environment?

Back

A, B, C, D

Front

Factors that influence the buyer to have less threats due to bargaining power?

Back

A only

Front

Factors characterizing the intensity of rivalry among existing firms (except one):
- Diversity of rivals
- Number of competing firms
- Characteristics of the products or services
- The product represents a high percentage of the buyer’s cost

Back

The product represents a high percentage of the buyer’s cost

Front

The following are the forces competing within the industry except one: Potential new entrants and Substitute Products, Buyers and Suppliers, Rivalry among Existing Firms, Needs and Wants

Back

Needs and Wants