Chapter 7 Vocabulary Flashcards
(18 cards)
The pursuit of lucrative opportunities by enterprising individuals.
Entrepreneurship
A business having fewer than 500 employees, independently owned and operated, not dominant in its field, and not characterized by many innovative practices.
Small Business
A new business having growth and high profitability as primary objectives.
Entrepreneurial Venture
Individual who establishes a new organization without the benefit of corporate sponsorship.
Entrepreneur
New venture creators working inside big companies.
Intrapreneurs
An entrepreneurial alliance between an innovator who has created at least one successful store and wants to grow and a partner who manages a new store of the same type in a new location.
Franchising
Sale to the public, for the first time, of federally registered and underwritten shares of stock in the company.
Initial Public Offering (IPO)
Leveraging resources to address social problems.
Social Entrepreneurship
Organization that applies business models and leverages resources in ways that address social problems.
Social Enterprise
Protected environments for new small businesses.
Business Incubators
Organization that provides support and advice to help young businesses grow.
Business Accelerator
A description of the good or service, and assessment of the opportunity, and assessment of the entrepreneur, specification of activities and resources needed to translate your idea into a viable business, and your source 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
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
Goodwill stemming from your social relationships; 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
Informal work on projects other than those officially assigned, of employee’s own choosing and initiative.
Bootlegging
The tendency of an organization to identify and capitalize successfully on opportunities to launch new ventures by entering new or established markets with now or existing goods or services.
Entrepreneurial Orientation
