Topic 2: Foundations of Entrepreneurial Thinking

*Characteristics of an entrepreneurial mindset

*Critical thinking and problem-solving in nursing
What is entrepreneurial?
Characterized by the taking of financial risks in the hope of
profit; enterprising.
What do mean by entrepreneurial?
Entrepreneurship is the ability and readiness to develop, organize and
run a business enterprise, along with any of its uncertainties in order
to make a profit.
The most prominent example of entrepreneurship is the starting of
new businesses.
What is the best definition for an entrepreneur?
A person who undertakes the risk of starting a new business venture
is called an entrepreneur.
An entrepreneur creates a firm to realize their idea, known as
entrepreneurship, which aggregates capital and labor in order to
produce goods or services for profit.
What is the entrepreneurial mind in nursing?
Successful nurse entrepreneurs possess a skill set that allows them to

seamlessly integrate healthcare and business, such as strong

leadership, analytical, and communication competencies.
At the same time, they must possess other characteristics that can
enable them to apply their skills independently.
 How would you relate entrepreneurship to being a nursing student?
In some cultures, entrepreneurship in nursing is often referred to as
private work, independent work, and self-employment, and considers
a nurse to be the owner of a business that provides nursing services of
care, education, research, administration, or consulting with a direct
nature.
What are the concepts of entrepreneurship in nursing?
Nursing entrepreneurship - often termed private practice, independent
practice, independent contractor, and self- employed practice – sees
the
nurse as “a proprietor of a business that offers nursing services of a
direct care, educational, research, administrative or consultative nature.
Why is entrepreneurship important for nursing students?
Enhancing empowerment is essential for nursing entrepreneurship,
particularly as nursing is a profession of predominantly women.
Furthermore, nurse entrepreneurs' knowledge and skills can help
bridge gaps in the healthcare system by increasing population access
to healthcare service.
What is the concept of entrepreneurship in healthcare?
Healthcare entrepreneurship is the pursuit of opportunity under
volatile, uncertain, complex and ambiguous (VUCA) conditions with
the goal of creating user/patient/stakeholder defined value through the
creation, development, deployment and harvesting of health innovation
using a VAST business model.
What are the 5 roles of a nurse entrepreneur?
There are many types of nurse entrepreneurs, but in general, this is
someone who uses their nursing skills, education and experience to
start a healthcare-related business.
Common business models usually center around one or more of these
services: consulting, coaching, advocacy, education and direct care.
What is the difference between entrepreneurship and
intrapreneurship in nursing?
A nurse entrepreneur is a nurse who is “proprietor of a business that
offers nursing services of a direct care, educational, research,
administrative or consultative nature.
Nurse intrapreneurs have control over their practice to the extent that
Mindset theory is an achievement motivation paradigm that
emphasizes ability malleability.
According to mindset theory, students either have a growth mentality
or a fixed attitude about their intelligence.
Growth mindset students believe intelligence can be changed, whereas
fixed mindset students feel intelligence is fixed.
As many empirical and theoretical articles have shown, a student’s
mentality can affect psychological and behavioral characteristics like
reaction to failure, persistence and effort, and expectations of success,
which affect academic performance.
Definition of mindset
A habitual or characteristic mental attitude that determines how you
will interpret and respond to situation.
What is entrepreneur mindset?
An entrepreneurial mindset is a set of skills that enable people to
identify and make the most of opportunities, overcome and learn from
setbacks, and succeed in a variety of settings.
Interventions to encourage a growth mindset have been created.
A growth mindset encourages kids to see problems as opportunities
for growth, enjoys learning, and boosts school motivation.
This effect shows whether a student reacts consciously or
unconsciously to hardships, effort, hurdles, and others' success.
Low-confidence and entrenched attitudes lead to low-performance
goals and issues that are typical of their actions, emotions, and mental
processes, making them feel powerless when compared to others.
However, those with a growth attitude believe that setting learning
objectives can help them overcome barriers and achieve positive
results. Mindset theory in nursing may explain student views, well
being, and effectiveness.
A growth mentality supports inventive behavior and can produce a
leader who will raise their team's potential and foster an accountable
culture that promotes corporate expansion and recognizes team
possibilities even in difficult circumstances.
In addition, entrepreneurial leadership, according to Subramaniam &
Shankar, has six essential traits: nourish an entrepreneurial
capability, protect innovations threatening the current business
model, make sense of opportunities, question the dominant logic,
revisit the deceptively simple questions, and link entrepreneurship
and strategic management.
Thus, strategic entrepreneurship increasingly requires understanding
entrepreneurial leaders.
Idealized leadership inspires employees with confidence, adoration,
respect, and trust.
Nurse leaders must be role models that staff aspire to.
When a leader models change, the team is less inclined to resist it.
The service/unit's mission and philosophy reflect this idealized impact.
Staff, families, and service users should help the leader create and
implement these statements.
Healthcare business requires finding new methods to help patients.
Analyzing the situation, generating alternatives, and choosing new or
better techniques might be beneficial. Nursing, nursing skills,
technology, imaging, pharmacology, data gathering and analysis, and
problem-solving create this type of professional medical practice.
Critical thinking and problem-solving in nursing
Critical thinking and problem-solving are essential skills in nursing,
as they enable nurses to make sound clinical decisions, provide
effective patient care, and respond to complex situations.
Here's a breakdown of how critical thinking and problem-solving are
applied in nursing:
1. Clinical Judgment:
•Assessment: Nurses must gather relevant information about
the patient's condition through observations, interviews, and
examinations.
•Analysis: They critically analyze the collected data to identify
patterns, trends, and potential issues.
2. Diagnosis:
•Nursing Diagnosis: Nurses use critical thinking to formulate nursing
diagnoses, which involve identifying the patient's health problems and
needs.
3. Planning:
•Care Planning: Based on the nursing diagnosis, nurses develop a
comprehensive plan for patient care. Critical thinking is crucial in
prioritizing interventions and setting realistic goals.
4. Implementation:
•Interventions: Nurses implement the care plan, using critical thinking
to adapt interventions to changing patient needs and conditions.
•Communication: Effective communication with patients, families, and
the healthcare team relies on critical thinking to convey information
clearly.
5. Evaluation:
•Outcomes: Nurses critically evaluate the outcomes of their
interventions to determine the effectiveness of the care provided.
•Reflection: Reflective thinking is essential for continuous
improvement. Nurses reflect on their actions and experiences to
enhance their future decision-making.
6. Problem-Solving:
•Identification: Nurses identify problems or challenges in patient
care through critical analysis of data and observations.
•Solution Development: Once a problem is identified, critical
thinking is applied to generate and implement effective solutions.
7. Collaboration:
•Teamwork: In a healthcare setting, nurses collaborate with other
healthcare professionals. Critical thinking is vital for effective
collaboration, as it involves sharing insights, considering different
perspectives, and contributing to collaborative problem-solving.
8. Ethical Decision-Making:
•Ethical Dilemmas: Nurses often encounter ethical dilemmas. Critical
thinking helps them navigate these situations, considering the ethical
implications of various choices.
9. Adaptability:
•Flexibility: The healthcare environment is dynamic, requiring nurses
to adapt to changes quickly. Critical thinking enables them to
respond to unexpected situations and make informed decisions under
 10. Continuous Learning:
•Professional Development: Critical thinking promotes a mindset
of continuous learning and professional development, allowing
nurses to stay updated with new evidence-based practices and
technologies.

In summary, critical thinking and problem-solving are integral to

nursing practice, influencing every aspect of patient care, decision
-making, and professional development.
Nurses who possess strong critical thinking skills are better equipped
to provide safe, effective, and patient-centered care.

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