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Midterm Exam
U of Iowa Entrepreneurship and Innovation
4
Business
Undergraduate 3
10/03/2011
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Term
Business Churning
 Definition

Schumpter's "creative destruction"

-declining businesses are phased out as start up maneuver their way into the market. 

 

This happens due to entrepreneurial framework conditions.
Term
Small Business
 Definition
500 or fewer employees
Term
Dow Jones Industrial Average
 Definition
The number is based on 30 leading companies with the most widely held stocks. It was founded in 1896 .
Term
% of new ventures that typically survive
 Definition

40% after 5 years

25% after 10 years
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