Term
|
Definition
| the identification, evaluation, & exploitation of opportunities |
|
|
Term
| Entrepreneurial Opportunity |
|
Definition
| an occasion to bring into existence new products & services that allow outputs to be sold at a price greater than their cost of production |
|
|
Term
|
Definition
| is an individual who identifies, evaluates & exploits opportunities |
|
|
Term
| Entrepreneurial Alertness |
|
Definition
| an individuals ability to notice & be sensitive to new information about objects, incidents & patterns of behavior in the environment |
|
|
Term
|
Definition
| the vary in terms of the information to which they have access |
|
|
Term
|
Definition
| represent individuals patterns of social relationships |
|
|
Term
|
Definition
| when an entrepreneur decides whether he or she has just a good idea or a viable opportunity that will provide the desired outcomes |
|
|
Term
|
Definition
| is the analysis that helps entrepreneurs understand whether an idea is practical |
|
|
Term
|
Definition
| likelihood & magnitude of the opportunity's downside loss |
|
|
Term
|
Definition
| the entrepreneur could lose if the opportunity does not succeed |
|
|
Term
|
Definition
| over estimate the extent to which they can control the outcome of an opportunity |
|
|
Term
|
Definition
| the activities & investments committed to gain returns from the new product or service arising from the opportunity |
|
|
Term
|
Definition
| wealthy individuals who provide capital (money) to new companies |
|
|
Term
|
Definition
| firms that raise money from investors & then use this money to make investments in new firms |
|
|
Term
|
Definition
| occurs when an entrepreneurs obtains financial institution in the form of a loan |
|
|
Term
| Corporate Entrepreneurship |
|
Definition
| is the process in which an individual or group of individuals in an existing corporation create a new organization or instigate renewal or innovation within that corporation |
|
|
Term
| Commercial Entrepreneurship |
|
Definition
| individuals or corporations that pursue entrepreneurial opportunities for the purposes of generating sales & profits |
|
|
Term
|
Definition
| the basic "long-standing needs" of society & has little to do with profits |
|
|
Term
|
Definition
| involves the recognition, evaluation & exploitation of opportunities that create social value as opposed to personal or shareholder wealth |
|
|
Term
|
Definition
| the process of determining how to get an organization where it wants to go |
|
|
Term
|
Definition
| a target toward which the open management system is directed |
|
|
Term
|
Definition
| what the organization exists to do, given a particular group of customers & customer needs |
|
|
Term
|
Definition
| is a condition where in sub-objectives are conflicting or not directly aimed at accomplishing the overall organizational objective |
|
|
Term
|
Definition
| a choice made between two or more available alternatives |
|
|
Term
|
Definition
| routine & repetitive & the organization typically develops specific ways to handle such decision |
|
|
Term
|
Definition
| a one-shot decision that is usually less structured than programmed decisions |
|
|
Term
|
Definition
| the proportion of the people affected in the management system |
|
|
Term
|
Definition
| having too many alternatives may actually demotivate decision markers |
|
|
Term
|
Definition
| the fact that managers are bounded in terms of time, computational power,& knowledge when making decisions |
|
|
Term
|
Definition
| a chosen decision that is not optimal but is "good enough" |
|
|
Term
|
Definition
| a decision-making tool used in risk situations |
|
|
Term
|
Definition
| graphic decision making tool used on decision involving a series of steps |
|
|
