Shared Flashcard Set

Details

entr 385 midterm terms
Terms for the midterm of entr 385 Pate
91
Management
Undergraduate 1
04/05/2011

Additional Management Flashcards

 


 

Cards

Term
entrepreneur
Definition
one who undertakes to organize, manage, and assume the risks of a business
Term
corridor principle
Definition
states that with every venture launched, new and unintended opportunities often arise
Term
macro view of entrepreneurship
Definition
presents a broad array of factors that relate to success or failure in contemporary entrepreneurial ventures
Term
external locus of control
Definition
a point of view in which external processes are sometimes beyond the control of the individual entrepreneur
Term
better widget strategy
Definition
innovation that encompassesnew or existing markets
Term
displacement school of thought
Definition
A school of entrepreneurial thought that focuses on group phenomena such as the political, cultural, and economic environments
Term
entrepreneurial assessment approach
Definition
Stresses making assessments qualitatively, quantitatively, strategically, and ethically in regard to the entrepreneur, the venture, and the environment
Term
entrepreneurial management
Definition
the theme or discipline that suggests entrepreneurship is based on the same principles, whether the entrepreneur is an existing large institutionor an individual starting his or her new venture single-handedly
Term
entrepreneurial revolution
Definition
the tremendous increase in entrepreneurial business and entrepreneurial thinking that has developed during the last 20 years. this revolution will be as powerful to the 21st century as the industrial revolutio was to the 20th century (if not more!)
Term
entrepreneurial school of thought
Definition
a school of entrepreneurial thought htat focuses on the external factors and forces-values, mores, and institutions- that surround a potential entrepreneur's lifestyle
Term
entrepreneurship
Definition
a dynamic process of vision, change, and creation. it requires an application of energy and passion toward the creation and implementation of new ideas and creative solutions.
Term
environmental school of thought
Definition
focuses on the external factors and forces-values, mores, and institutions-that surround a potential entrepreneur's lifestyle
Term
Financial/capital school of thought
Definition
focuses on the ways entrepreneurs seek seed capital and growth funds
Term
Gazelle
Definition
A business establishment with at least 20 percent sales growth every year, starting with a base of at least $100,000
Term
Great chef strategies
Definition
the skills or special talents of one or more individuals around whom a venture is built
Term
internal locus of control
Definition
the viewpoint in which the potential entrepreneur has the ability or control to direct or adjust the outcome of each major influence
Term
micro view of entrepreneurship
Definition
examines the factors specific to entrepreneurship and part of the internal locus of control
Term
mountain gap strategies
Definition
identifying major market segments as well as interstice (in-between) markets that arise from larger markets
Term
strategic formulation school of thought
Definition
focuses on the planning process used in successful venture formulation
Term
venture opportunity school of thought
Definition
focuses on the search for idea sources, on concept development, and on implementation of venture opportunities
Term
water well strategies
Definition
the ability to gather or harness special resources (land, labor, capital raw materials) over the long term
Term
calculated risk taking
Definition
occurs when successful entrepreneurs carefully think out a venture and do everything possible to turn the odds in their favor
Term
career risk
Definition
whether an entrepreneur will be able to find a job or go back to an old job if his or her venture fails
Term
dark side of entrepreneurship
Definition
a destructive side that exists within the energetic drive of successful entrepreneurs
Term
delegating
Definition
having trained people complete tasks for entrepreneurs to help them save time
Term
drive to achieve
Definition
a strong desire to compete, to excel against self-imposed standards, and to pursue and attain challenging goals
Term
entrepreneurial behavior
Definition
an entrepreneur's decision to initiate the new-venture formation process.
Term
entrepreneurial mind-set
Definition
all the characteristics and elements that compose the entrepreneurial potential in every individual
Term
entrepreneur's motivation
Definition
the willingness of an entrepreneur to sustain his or her entrepreneurial behavior
Term
external optimism
Definition
Ceaseless optimism emanating from entrepreneurs as a key factor in the drive toward success
Term
financial risk
Definition
the money or resources risked in a new venture
Term
immersion in business
Definition
when the successful entrepreneur devotes all of his or her time to the business rather than taking some time for leisure activities
Term
loneliness
Definition
isolation from persons with whom entrepreneurs can confide because of their long work hours
Term
need to control
Definition
the strong desire entrepreneurs have to control both their ventures and their destinies
Term
networking
Definition
Meeting key people in a particular field of business for purposes of gaining connections in the industry; also valuable for sharing experiences with other business owners as a way to relieve loneliness
Term
Opportunity orientation
Definition
A pattern among successful, growth-minded entrepreneurs to focus on opportunity rather than on resources, structure, or strategy.
Term
Psychic risk
Definition
the great psychological impact on and the well-being of the entrepreneur who creates a new venture
Term
risk
Definition
Involves uncertain outcomes or events. The higher the rewards, the greater the risk entrepreneurs usually face.
Term
stress
Definition
a function of discrepancies between a person's expectations and ability to meet demands, as well as discrepancies between the individual's expectations and personality. If a person is unable to fulfill role demands, then stress occurs
Term
tolerance for ambiguity
Definition
ability of the entrepreneur to thrive on uncertainty and constant changes that introduce ambiguity and stress into every aspect of the enterprise
Term
tolerance for failure
Definition
The iterative, trial-and-error nature of a successful entrepreneur due to serious setbacks and disappointments that are an integral part of the entrepreneur's learning experience
Term
vision
Definition
a concept of what the entrepreneur's idea can become
Term
bootlegging
Definition
Secretly working on new ideas on company time as well as on personal time
Term
champion
Definition
within the context of corporate entrepreneurship, this is a person with an innovative vision and the ability to share it
Term
collective entrepreneurship
Definition
individual skills integrated into a group wherein the collective capacity to innovate becomes something greater than the sum of its parts
Term
corporate entrepreneurship
Definition
a new "corporate revolution" taking place due to the infusion of entrepreneurial thinking into bureaucratic structures
Term
CEAI
Definition
a questionaire designed to measure the key entrepreneurial climate factors
Term
corporate venturing
Definition
the adding of new businesses (or portions of new businesses via equity investments) to the corporation. This can be accomplished through three implementation modes: internal corporate venturing, cooperative corporate venturing, and external corporate venturing
Term
entrepreneurial economy
Definition
a new emphasis on entrepreneurial thinking that developed in the 1980s and 1990s and is prevalent now in the twenty-first century
Term
incremental innovation
Definition
the systematic evolution of a product or service into newer or larger markets
Term
I-team
Definition
an internal corporate team formulated for the purpose of creating new innovations for the organization
Term
interactive learning
Definition
learning ideas within an innovative environment that cut across traditional, functional lines in the organization
Term
intra-capital
Definition
special capital set aside for the corporate entrepreneur to use whenever investment money is needed for further research ideas
Term
intrapreneurship
Definition
entrepreneurial activities that receive organizational sanction and resource commitments for the purpose of innovative results within an established corporation
Term
radical innovation
Definition
the inaugural breakthroughs launched from experimentation and determined vision that are not necessarily managed but must be recognized and nurtured
Term
skunk works
Definition
a highly innovative enterprise that uses groups functioning outside of traditional lines of authority
Term
strategic entrepreneurship
Definition
the exhibition of large-scale or otherwise highly consequential innovations that are adopted in the firm's pursuit of competitive advantage
Term
top management support
Definition
when upper-level managers in a corporation can concentrate on helping individuals within the system develop more entrepreneurial behavior
Term
amoral management
Definition
management is neither moral nor immoral, but decisions lie outside the sphere to which moral judgments apply
Term
code of conduct
Definition
a statement of ethical practices or guidelines to which an enterprise adheres
Term
ecovision
Definition
leadership style for innovative organizations. Encourages open and flexible structures that encompass the employees, the organization, and the environment, with attention to evolving social demands
Term
environmental awareness
Definition
a reawakening of the need to preserve and protect our natural resources
Term
ethics
Definition
a set of principles prescribing a behavioral code that explains what is good and right or bad and wrong
Term
green capitalism
Definition
a new force in examining the manner in which business is conducted in relation to the environment. It refers to a concept of ecologically sustainable development being transformed into economically sustainable development
Term
immoral management
Definition
management decisions that imply a positive and active opposition to what is ehtical
Term
moral management
Definition
management activity that conforms to a standard of ethical behavior
Term
nonrole
Definition
refers to unethical instances in which a person is acting outside of his or her role as manager yet committing acts against a firm
Term
rationalizations
Definition
what managers use to justify questionable conduct
Term
role assertion
Definition
unethical acts involving managers/entrepreneures who represent the firm and who rationalize that htey are in a position to help the firm's long-run interests
Term
role distortion
Definition
unethical acts committed on the basis that they are "for the firm" even though they are not, and involving managers who commit individual acts and rationalize that they are in the firm's long-run interests
Term
role failure
Definition
unethical acts against the firm involving a person failing to perform his or her managerial role, including superficial performance appraisals (not being totally honest) and not confronting someone who is cheating on expense accounts
Term
social entrepreneurship
Definition
a new form of entrepreneurship that exhibits characteristics of nonprofits, government, and businesses
Term
social obligation
Definition
reacting to social issues through obedience to the laws
Term
social responsibility
Definition
reacting to social by accepting responsibility for various programs
Term
social responsiveness
Definition
being proactive on social issues by being associated with various activities for the social group
Term
appositional relationship
Definition
a relationship among things and people existing in the world in relation to other things and other people
Term
creative process
Definition
the four phases of creative development:background or knowledge accumulation, incubation process, idea experience, and evaluation or implementation
Term
creativity
Definition
the generation of ideas that results in an improvement in the efficiency or effectiveness of a system
Term
duplication
Definition
a basic type of innovation that involves the replication of an already existing product, service, or process
Term
extension
Definition
a basic type of innovation that involves extending the life of a product, service, or process already in existence
Term
functional perspective
Definition
viewing things an people in terms of how they can be used to satisfy one's needs and to help complete a project
Term
incongruities
Definition
whenever a gap or difference exists between expectations and reality
Term
innovation
Definition
the process by which entrepreneurs convert opportunities into marketable ideas
Term
invention
Definition
a basic type of innovation that involves the creation of a new product, service, or process that is often novel or untried
Term
left brain
Definition
the part of the brain that helps an individual analyze, verbalize, and use rational approaches to problem solving
Term
muddling mindsets
Definition
when creative thinking is blocked or impeded
Term
opportunity identification
Definition
the ability to recognize a viable business opportunity within a variety of good ideas
Term
probability thinking
Definition
relying on probability to make decisions in the struggle to achieve security
Term
right brain
Definition
the part of the brain that helps an individual understand analogies, imagine things, and synthesize information
Term
stereotype
Definition
refers to averages that people fabricate and then, ironically, base decisions on as if they were entities existing in the real world
Term
synthesis
Definition
a basic type of innovation that involves combining existing concepts and factors into a new formulation
Supporting users have an ad free experience!