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Definition
| one who undertakes to organize, manage, and assume the risks of a business |
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Definition
| states that with every venture launched, new and unintended opportunities often arise |
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Term
| macro view of entrepreneurship |
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Definition
| presents a broad array of factors that relate to success or failure in contemporary entrepreneurial ventures |
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Term
| external locus of control |
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Definition
| a point of view in which external processes are sometimes beyond the control of the individual entrepreneur |
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Definition
| innovation that encompassesnew or existing markets |
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| displacement school of thought |
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Definition
| A school of entrepreneurial thought that focuses on group phenomena such as the political, cultural, and economic environments |
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| entrepreneurial assessment approach |
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Definition
| Stresses making assessments qualitatively, quantitatively, strategically, and ethically in regard to the entrepreneur, the venture, and the environment |
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| entrepreneurial management |
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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 |
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Term
| entrepreneurial revolution |
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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!) |
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Term
| entrepreneurial school of thought |
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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 |
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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. |
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| environmental school of thought |
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Definition
| focuses on the external factors and forces-values, mores, and institutions-that surround a potential entrepreneur's lifestyle |
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| Financial/capital school of thought |
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Definition
| focuses on the ways entrepreneurs seek seed capital and growth funds |
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Definition
| A business establishment with at least 20 percent sales growth every year, starting with a base of at least $100,000 |
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Definition
| the skills or special talents of one or more individuals around whom a venture is built |
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| internal locus of control |
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Definition
| the viewpoint in which the potential entrepreneur has the ability or control to direct or adjust the outcome of each major influence |
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| micro view of entrepreneurship |
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Definition
| examines the factors specific to entrepreneurship and part of the internal locus of control |
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Definition
| identifying major market segments as well as interstice (in-between) markets that arise from larger markets |
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| strategic formulation school of thought |
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Definition
| focuses on the planning process used in successful venture formulation |
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| venture opportunity school of thought |
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Definition
| focuses on the search for idea sources, on concept development, and on implementation of venture opportunities |
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Term
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Definition
| the ability to gather or harness special resources (land, labor, capital raw materials) over the long term |
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Definition
| occurs when successful entrepreneurs carefully think out a venture and do everything possible to turn the odds in their favor |
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Definition
| whether an entrepreneur will be able to find a job or go back to an old job if his or her venture fails |
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Term
| dark side of entrepreneurship |
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Definition
| a destructive side that exists within the energetic drive of successful entrepreneurs |
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Definition
| having trained people complete tasks for entrepreneurs to help them save time |
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Definition
| a strong desire to compete, to excel against self-imposed standards, and to pursue and attain challenging goals |
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Definition
| an entrepreneur's decision to initiate the new-venture formation process. |
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Definition
| all the characteristics and elements that compose the entrepreneurial potential in every individual |
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Term
| entrepreneur's motivation |
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Definition
| the willingness of an entrepreneur to sustain his or her entrepreneurial behavior |
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Definition
| Ceaseless optimism emanating from entrepreneurs as a key factor in the drive toward success |
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Definition
| the money or resources risked in a new venture |
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Definition
| when the successful entrepreneur devotes all of his or her time to the business rather than taking some time for leisure activities |
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Definition
| isolation from persons with whom entrepreneurs can confide because of their long work hours |
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Definition
| the strong desire entrepreneurs have to control both their ventures and their destinies |
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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 |
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Definition
| A pattern among successful, growth-minded entrepreneurs to focus on opportunity rather than on resources, structure, or strategy. |
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Definition
| the great psychological impact on and the well-being of the entrepreneur who creates a new venture |
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Definition
| Involves uncertain outcomes or events. The higher the rewards, the greater the risk entrepreneurs usually face. |
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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 |
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Definition
| ability of the entrepreneur to thrive on uncertainty and constant changes that introduce ambiguity and stress into every aspect of the enterprise |
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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 |
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| a concept of what the entrepreneur's idea can become |
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Definition
| Secretly working on new ideas on company time as well as on personal time |
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Definition
| within the context of corporate entrepreneurship, this is a person with an innovative vision and the ability to share it |
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| collective entrepreneurship |
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Definition
| individual skills integrated into a group wherein the collective capacity to innovate becomes something greater than the sum of its parts |
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| corporate entrepreneurship |
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Definition
| a new "corporate revolution" taking place due to the infusion of entrepreneurial thinking into bureaucratic structures |
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Definition
| a questionaire designed to measure the key entrepreneurial climate factors |
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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 |
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Definition
| a new emphasis on entrepreneurial thinking that developed in the 1980s and 1990s and is prevalent now in the twenty-first century |
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Definition
| the systematic evolution of a product or service into newer or larger markets |
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Definition
| an internal corporate team formulated for the purpose of creating new innovations for the organization |
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Definition
| learning ideas within an innovative environment that cut across traditional, functional lines in the organization |
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Definition
| special capital set aside for the corporate entrepreneur to use whenever investment money is needed for further research ideas |
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Definition
| entrepreneurial activities that receive organizational sanction and resource commitments for the purpose of innovative results within an established corporation |
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Definition
| the inaugural breakthroughs launched from experimentation and determined vision that are not necessarily managed but must be recognized and nurtured |
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Definition
| a highly innovative enterprise that uses groups functioning outside of traditional lines of authority |
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| strategic entrepreneurship |
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Definition
| the exhibition of large-scale or otherwise highly consequential innovations that are adopted in the firm's pursuit of competitive advantage |
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Definition
| when upper-level managers in a corporation can concentrate on helping individuals within the system develop more entrepreneurial behavior |
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Definition
| management is neither moral nor immoral, but decisions lie outside the sphere to which moral judgments apply |
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Definition
| a statement of ethical practices or guidelines to which an enterprise adheres |
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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 |
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Definition
| a reawakening of the need to preserve and protect our natural resources |
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| a set of principles prescribing a behavioral code that explains what is good and right or bad and wrong |
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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 |
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| management decisions that imply a positive and active opposition to what is ehtical |
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Definition
| management activity that conforms to a standard of ethical behavior |
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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 |
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Definition
| what managers use to justify questionable conduct |
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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 |
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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 |
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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 |
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Definition
| a new form of entrepreneurship that exhibits characteristics of nonprofits, government, and businesses |
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Definition
| reacting to social issues through obedience to the laws |
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Definition
| reacting to social by accepting responsibility for various programs |
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Definition
| being proactive on social issues by being associated with various activities for the social group |
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Term
| appositional relationship |
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Definition
| a relationship among things and people existing in the world in relation to other things and other people |
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Definition
| the four phases of creative development:background or knowledge accumulation, incubation process, idea experience, and evaluation or implementation |
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Definition
| the generation of ideas that results in an improvement in the efficiency or effectiveness of a system |
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Definition
| a basic type of innovation that involves the replication of an already existing product, service, or process |
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Term
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Definition
| a basic type of innovation that involves extending the life of a product, service, or process already in existence |
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Definition
| viewing things an people in terms of how they can be used to satisfy one's needs and to help complete a project |
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Definition
| whenever a gap or difference exists between expectations and reality |
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Definition
| the process by which entrepreneurs convert opportunities into marketable ideas |
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Definition
| a basic type of innovation that involves the creation of a new product, service, or process that is often novel or untried |
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Definition
| the part of the brain that helps an individual analyze, verbalize, and use rational approaches to problem solving |
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Definition
| when creative thinking is blocked or impeded |
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| opportunity identification |
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Definition
| the ability to recognize a viable business opportunity within a variety of good ideas |
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Definition
| relying on probability to make decisions in the struggle to achieve security |
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Definition
| the part of the brain that helps an individual understand analogies, imagine things, and synthesize information |
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Definition
| refers to averages that people fabricate and then, ironically, base decisions on as if they were entities existing in the real world |
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Definition
| a basic type of innovation that involves combining existing concepts and factors into a new formulation |
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