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ENTRP 340

Chapter 2

TermDefinition
Mindset: : instrumental to choices made daily, lens for viewing the world, interpreting what you see, and reacting to what you hear; growth mindset, fixed mindset
growth mindset : believe their abilities can be developed through dedication, effort and hard work,
fixed mindset perceive their talents and abilities as set traits
entrepreneurship mindset having the ability to create and identify new opportunities and have the courage to act on them
metacognition our ability to understand and be aware of how we think and the processes we use to make decisions
Entrepreneurial Self-Efficacy (ESE) the belief entrepreneurs have in their ability to start new ventures, essential part to the mindset
Nascent entrepreneur a person who is engaging in startup efforts but has not officially started a business
opportunity : a possibility of generating value through the introduction of unique, novel or desirable products, services and processes that have not been exploited
resilience the capacity to withstand and positively recover from life’s challenges
6 dimensions of resilience ; Adapt to change, deal with what comes along, cope with stress, stay focused and think clearly, don’t get discouraged, handle unpleasant feelings
Entrepreneurial passion an intense positive emotion which is usually related to entrepreneurs who are engaged in meaningful venture, tasks, etc and which has the effect of motivating and stimulating entrepreneurs to overcome obstacles and remain focused.
confirmation bias the tendency to only use positive information or ignore information that discredits your idea or business… can result form being too passionate
Entrepreneurial habits creativity, reflection, improvisation, self-leading and fear management
5 steps to overcome fear : accept it, identify it, feel it, face it, practice it
3 strategies for self-leadership behavior focused strategies, natural reward strategies, constructive thought pattern strategies
Created by: kayleejh0829
 

 



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