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Pruitt MGMT. 370

Entrepreneurship Ch. 6

TermDefinition
Entrepreneurship The process by which enterprising individuals initiate, manage, and assume the risks and rewards associated with a business venture
Small business A business having fewer than 100 employees, independently owned and operated, not dominant in its field, and not characterized by many innovative practices
Entrepreneurial Venture A new business having growth and high profitability as primary objectives
Entrepreneur An individual who establishes a new organization without the benefit of corporate sponorship
Intrapreneurs New venture creators working inside big companies
Franchising An entrepreneurial alliance between a franchisor (an innovator who has created at least one successful store and wants to grow) and a franchisee (a partner who manages a new store of the same type in a new location)
Transaction fee Charging fees for goods and services
Advertising support model Charging fees to advertise on a site
Intermediary model Charging fees to bring buyers and sellers together
Affiliate model Charging fees to direct site visitors to other companies' sites
Subscription model Charging fees for site visits
Side Street Effect As you head down a road unexpected opportunities begin to appear
Business incubators Protected environments for new small businesses
Initial Public Offering (ipo) Sale of the public, for the first time, of federally registered and underwritten shares of stock in the company
Opportunity Analysis A description of the good or service, an assessment of the opportunity, an assessment of the entrepreneur, and specification of activities and resources needed to translate your idea into a viable business and your sources of capital
Business Plan A formal planning step that focuses on the entire venture and describes all the elements involved in starting it
Legitimacy People's judgment of a company's acceptance, appropriateness, and desirability, generally stemming from company goals and methods that are consistent with societal values
Social Capital A competitive advantage from relationships with other people and the image other people have of you
Skunkworks A project team designated to produce a new, innovative product
Bootlegging Informal work on projects, other than those officially assigned, of employees' own choosing and initiative
Entrepreneurial Orientation The tendency of an organization to identify and capitalize successfully on opportunities to launch new ventures by entering new or established markets with new or existing goods or services
Created by: starnema
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