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Definition
| one who introduces something better to the world of commerce by taking initiative and risk that results in business ownership and management for a profit. |
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| This consists of leading in creation of a new business to produce and deliver that something better, in the view of customers, to the marketplace. |
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| Key Ingredients of a New Venture |
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Definition
| Contacts, Good Ideas, Physical Resources, Technical Know-how, Customer Orders |
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| 5 thought modes of entrepreneurial thinking |
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Definition
| Absorptive, Analytic, Divergent, Projective, and Integrative. |
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Definition
| Surveying, Searching, Screening, Projecting, Action |
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| A situation where one or more people can introduce an improvement. |
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| A situation where the improvement can earn a profit |
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| Entrepreneurship opportunity |
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Definition
| A situation where the improvement can enable creation of an adequately profitable new business. |
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| conceptions of ways to exploit opportunities. |
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| Entrepreneurial Opportunity rests |
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Definition
| the misalignment of supply and demand, and arises from the possibility of changing both. |
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Definition
| Business opportunities which could be released at any time (generally they haven't been thought of yet). In other words their innovations on the current market. |
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| Business opportunities created by circumstantial changes. |
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| Examples of Driving Forces |
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Definition
| Business environment changes, Enablers, Impellers, and Confluence |
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| Examples of Business Environment Changes as driving forces |
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Definition
| Economic Dislocations, Governmental actions, Resistance reduction |
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| Examples of Enablers as driving forces |
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Definition
| Technical discoveries, resource emergence |
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| Examples of Impellers as driving forces |
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Definition
| Market emergence, profit chain evoltuion |
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Term
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Definition
| New opportunities from the same industry |
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Definition
| New opportunities from different industries |
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Definition
| New opportunities from many companies in the same industry |
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Definition
| New opportunities from many companies many industries |
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Definition
| The time it takes before someone recognizes an opportunity is present. |
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Definition
| Clues to the presence of an entrepreneurial opportunity. |
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Definition
| The degree to which an opportunity is easily recognized based on where someone is at in their life. |
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Definition
| The effect of an opportunity being clear in hindsight but now so clear in foresight. |
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Definition
| How obvious the opportunity is. |
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Definition
| The closeness to the potential opportunity. |
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| Searching by gap analysis |
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Definition
| Looking within markets for opportunities missing within those markets. |
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Term
| Searching for Market Holes |
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Definition
| Examining current offerings for bargains or features not yet offered. |
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Definition
| When an initiative must be taken and progress must be made before they can be seen. |
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| Internal Drivers of Discovery |
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Definition
| When the entrepreneur believes they have the capacity to deliver something somebody else might like to have. |
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Definition
| The transfer of developments in technology between organizations or people for others to exploit. |
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Term
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Definition
| When Entrepreneurs work back from an awareness that the market wants something, the marshal the capability to deliver it. |
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