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C208 > Module 6 > Flashcards

Module 6 Flashcards

1
Q

Strategic Planning

A

A process to determine the mission, objectives, and strategies of a venture or organization and then find ways to achieve the identified vision.

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2
Q

Angel Capital

A

Investments in a new venture made by wealthy individuals (angels)

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3
Q

Mission Statement

A

A brief written statement of the vision and purpose of a venture or an organization

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4
Q

Accounts Payable

A

Payments due to suppliers for products and services

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5
Q

Intrapreneur

A

A manager within a firm tasked with fostering innovation through entrepreneurial activities

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6
Q

Venture Capital (VC)

A

Investments in new ventures with exceptional growth potential

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7
Q

Private Placement

A

A method of raising capital through securities sold without a public offering (to select private investors)

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8
Q

Creativity

A

The generation of new ideas by individuals and teams

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9
Q

Partnership

A

A legal structure of co-ownership between two or more people who go into business together and share in any profits or losses

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10
Q

Intrapreneurship

A

The entrepreneurial process conducted within an established organization

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11
Q

Accounts Receivable

A

Money due from clients for products delivered or services performed

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12
Q

Resource-based theory

A

A model advanced by Jay B. Barney and Delwyn N. Clark that focuses on the competences and capabilities of the firm in creating competitive advantage

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13
Q

Debt financing

A

When an entrepreneur borrows cash and agrees to pay back the lender the original loan amount, plus a premium, by an agreed upon future date

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14
Q

Social Innovation

A

The creation of innovative solutions to complex social problems

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15
Q

Sole proprietorship

A

The simplest legal structure where the sole owner is not legally distinct from the business

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16
Q

Entrepreneurship

A

The process of innovating with products or services for the purpose of creating wealth for the entrepreneur while adding value to society

17
Q

Innovation

A

The process by which new ideas are converted into new products, business practices, and strategies that create value

18
Q

Strategy

A

A plan of action designed to achieve specific goals or objectives in the venture

19
Q

Social Entrepreneurship

A

The process of developing innovative solutions for society’s most pressing social problems using entrepreneurial tools and techniques

20
Q

Equity Financing

A

When an entrepreneur receives cash from from an investor in exchange for equity in the company

21
Q

Commercialization Strategy

A

The strategic choices an entrepreneur makes to finance later-stage development of a venture

22
Q

5 Common Commercialization Strategies

A
  1. Equity Investment
  2. Strategic Alliance
  3. Acquisition
  4. Licensing
  5. Initial Public Offering
23
Q

Equity Investment

A

Commercialization strategy which includes one or more investors in later stage equity financing round

24
Q

Strategic Alliance

A

Commercialization strategy in which there is a partnership with complementary business that benefits both parties in some way

25
Q

Acquisition

A

Commercialization strategy in which there is a purchase of the company by another business entity

26
Q

Licensing

A

Commercialization strategy in which one is supplying rights to proprietary ideas, products to other businesses in exchange for payment

27
Q

Initial Public Offering (IPO)

A

Commercialization strategy in which the company stock is made available to investors of all types and sizes via the public markets

28
Q

SWOT Analysis

A

A strategic analysis of a venture’s strengths, weaknesses, opportunities, and threats

29
Q

Elevator Pitch

A

The quick, succinct summation of an entrepreneurial opportunity

30
Q

Serial Entrepreneur

A

An entrepreneur who starts multiple business over time

31
Q

Corridor Principle

A

The idea that new ventures can surface new and unintended market opportunities

32
Q

Market Niche

A

The subset of the market on which a specific product or service is focused on

33
Q

S Corporation

A

If there are less than 100 shareholders who own the same stock, a business can seek exemption from corporate income taxes and yet retain some key benefits (limited liability). Structured to limit federal income taxes on small businesses (no corporate income tax on earning)

34
Q

Limited Liability Company (LLC)

A

Fewer restrictions than an S Corporation. No limit to shareholders. Company members are taxed personally on profits.

35
Q

Business Plan

A

Includes production, finance, facilities, human resources management. Should have between 10-12 sections and 50 pages is ideal length

36
Q

Personal Cash

A

Funding the venture through credit cards, home equity, second mortgage, family/friends

37
Q

Internal cash

A

Funding the venture through accounts receivable and accounts payable. LESS EXPENSIVE THAN EXTERNAL CASH

38
Q

External Cash

A

From banks and financial companies (reluctant to give, high-cost)

C208 (8 decks)

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