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The Entrepreneurial Mind

This document provides activities to check understanding of entrepreneurship concepts. It includes identifying key terms related to mindset, innovation types, and entrepreneurial processes. True/false questions test comprehension of topics like mindset, entrepreneurship, and innovation definitions. Another activity asks to list entrepreneurs' traits and cite examples of open innovation across industries like crowdsourcing ideas, product collaborations, and community-driven vehicle design.

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Pea Del Monte Añana
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867 views2 pages

The Entrepreneurial Mind

This document provides activities to check understanding of entrepreneurship concepts. It includes identifying key terms related to mindset, innovation types, and entrepreneurial processes. True/false questions test comprehension of topics like mindset, entrepreneurship, and innovation definitions. Another activity asks to list entrepreneurs' traits and cite examples of open innovation across industries like crowdsourcing ideas, product collaborations, and community-driven vehicle design.

Uploaded by

Pea Del Monte Añana
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Let’s Check

Let us try the following activities to check your understanding in this unit.

Activity 1. Identification. In the space provided, write the term/s being asked in
the following statements: (One point each)

Mindset 1. This refers to a person's tendencies especially when


reacting to information. This can be fixed or growth-oriented.
Growth mindset 2. The type of mindset that is open for improvements.
Fixed mindset 3. "My talents and skills will never improve". What
mindset is this?
Entrepreneurs 4. This refers to a person who creates value, innovate
and pursues opportunities.
Breakthrough 5. This innovation happens when there is a completely
new product or service.
Incremental 6. This innovation happens when the business owner
decided to improve several features of his product.
Open innovation 7. This innovation happens when the fertilizer company
is communicating with farmers to better address their needs.
Entrepreneurial mindset 8. This refers to the constant ability to seek
opportunities, take risks and make an idea into a reality.
Effectuation 9. This process starts when one is evaluation what he
has and calculates possible outcomes.
Value 10. This refers to the customers’ evaluation of the
product’s usefulness in meeting his needs.

Activity 2. True or False. In the space provided, write T if the given statement
is true and F if false. (One point each).
F 1. Mindset is always fixed.
T 2. An entrepreneur is up for innovation.
F 3. Innovative activities are limited to new goods and new markets.
F 4. Reverse innovation happens when a third party is discussing ways to
improve current product.
F 5. The case for Nestle noddles is an example of disruptive innovation.

Let’s Analyze

Let us try the following activities to know how deep your understanding of
the topics of this unit is.

Activity 1. List 5 entrepreneurs you know and cite 3 remarkable traits they have.

Names Remarkable Trait


Example : Richard Branson 1. pursuing innovative ideas
2. persistent in getting funding
3. people-oriented
1. Steve Jobs 1. Open to advice
2. Looks on skills and talents
3. Good decision-maker
2. Thomas Edison 1. Extremely curious
2. Embraces failure
3. Always looking forward
3. Graham Young 1. Pursues passion
2. Balance
3. Team builder

Activity 2. Open Innovation sometimes demands collaboration among


customers and manufacturer. As an example, car manufacturers are in constant
contact with car users in order to improve the specifications of a car model. In
the table below, cite three business types or industries that is doing open
innovation and explain.

Industry/Business Explanation

1. Quirky store - Quirky has conducted a crowdsourcing


wherein you can put your product idea up on
Quirky and others within the Quirky
community can comment and contribute to
your idea.9

2. Samsung - Samsung’s open innovation presents a


diverse types of collaboration. There are
actually 4 categories of collaboration which
are the partnerships, ventures, accelerators,
and acquisitions.

3. Local motors - Local motors has its different style of open


innovation. They activate its open
community through its Co-Create platform
wherein traditionally everything open to new
creations.

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