Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
22 Cards in this Set
- Front
- Back
|
Three Clusters |
Achievement Cluster Planning Cluster Power Cluster |
|
|
consists of character traits that are directly related to the entrepreneur’s desire to be an achiever. |
ACHIEVEMENT CLUSTER |
|
|
5 traits in the Achievement cluster |
OPPORTUNITY-SEEKER COMMITTED PERSISTENT RISK-TAKER EFFICIENT AND QUALITY-ORIENTED |
|
|
must possess the ability to identify the most appropriate entrepreneurial opportunities. |
OPPORTUNITY-SEEKER |
|
|
directly related to interest. |
COMMITTED |
|
|
the terms “quit” and “surrender” are not included in their vocabulary. is the foundation of commitment. |
PERSISTENT |
|
|
Has Three types of Risk-takers: Aggressive Risk-taker – not scared to take any risks. Moderate Risk-taker – more calculative in taking risks. Conservative Risk-taker – not very eager to take any kind of risk. |
RISK-TAKER |
|
|
The concept of efficiency here is related to the cost involved in the production of goods and services while the concept of quality deals with defect. |
EFFICIENT AND QUALITY-ORIENTED |
|
|
Three types of Risk-takers: |
Agressive Moderate Conservative |
|
|
Is a set of characteristics of successful entrepreneurs that basically supports the character traits in the achievement cluster. |
PLANNING CLUSTER |
|
|
Three traits in Planning Cluster |
GOAL-SETTER INFORMATION-SEEKER SYSTEMATIC IN PLANNING AND MONITORING |
|
|
Entrepreneur sets clear, specific and well-defined goals and objectives. |
GOAL-SETTER |
|
|
Entrepreneurs seek relevant and reliable information to make sound decisions. |
INFORMATION-SEEKER |
|
|
Entrepreneurs follow a systematic pattern of planning process and monitoring approaches. |
SYSTEMATIC IN PLANNING AND MONITORING |
|
|
Refers to long term plans |
Goal |
|
|
refers to short term plans |
Objective |
|
|
it is used by entrepreneurs in setting goals and objectives. |
SMART Principle |
|
|
SMART stands for |
Specific Measurable Achieveable Realistic Time-Bound |
|
|
Includes character traits that reflect the degree of interpersonal relations maintained by successful entrepreneurs in the community. |
POWER CLUSTER |
|
|
Two traits in power cluster |
PERSUASIVE AND POSITIVE NETWORKER SELF-CONFIDENT |
|
|
Successful entrepreneurs are persuasive and they can easily influence and sell their ideas to the stakeholders. Entrepreneurs completely discard the concept of bribery but rather they employ positive way of influencing others. |
PERSUASIVE AND POSITIVE NETWORKER |
|
|
Entrepreneurs project a favourable image of themselves which is founded on respect and good deeds in the business communities. Entrepreneurs manifest strong trust or belief in oneself. |
SELF-CONFIDENT |
