Chapter 7 Study Guide Flashcards
(19 cards)
The pursuit of lucrative opportunities by
enterprising/resourceful individuals.
Entrepreneurship
Individuals who establish a new organization without the benefit of corporate sponsorship.
Entrepreneur
New-venture creators working inside big companies. A.K.A. corporate entrepreneurs
Intrapreneur
High ratings in both creativity, innovation and management skills
Entrepreneurial Personality
The tendency of an organization to identify and
capitalize successfully on opportunities to launch
new ventures by entering new or established
markets with new or existing goods or services.
Entrepreneurial Orientation
Protected environments for new, small businesses.
Business Incubator
Sale to the public, for the
first time, of federally
registered and underwritten
shares of stock in the
company.
Initial Public Offering (IPO)
People’s judgment of a company’s acceptance,
appropriateness, and desirability, generally
stemming from company goals and methods that
are consistent with societal values.
Legitimacy
A competitive advantage in the form of
relationships with other people and the image
other people have of you.
Social Capital
A project team
designated to produce a
new, innovative product.
Skunkworks
What are some entrepreneurship challenges?
- You might not enjoy it
- Survival is difficult
- Growth creates new challenges
- It’s hard to delegate
- Misuse of funds
- Poor controls
- Mortality
Informal work on
projects, other than
those officially assigned,
of employees’ own
choosing and initiative.
Bootlegging
Charging fees for goods
and services.
Transaction Fee Model
Charging fees to bring
buyers and sellers
together.
Intermediary Model
Charging fees for site visits.
Subscription Model
Charging fees to advertise on a site.
Advertising Support Model
Charging fees to direct
site visitors to other
companies’ sites.
Affiliate Model
A description of the good or service, an assessment of the opportunity, an assessment of the entrepreneur, specification of activities and
resources needed to translate your idea into a viable business, and your source(s) of capital.
Opportunity Analysis
A formal planning step that focuses on the entire venture and describes all the elements involved in starting it.
Business Plan
