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Pruitt MGMT. 370
Entrepreneurship Ch. 6
| Term | Definition |
|---|---|
| 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 |
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starnema
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