Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
SBM - Chapter 1
Vocab from SMB Chapter 1
| Question | Answer |
|---|---|
| Microbusinesses (lifestyle business) | A small firm that provides minimal profits to its owner |
| Attractive small firms | A small firm that provides substantial profits to its owner |
| High-potential ventures (gazelles) | A small firm that has great prospects for growth. |
| Small business | A business with growth potential that is small compared to large companies in an industry, has geographically localized operations, is financed by only a few individuals, and has a small management team. |
| Entrepreneur | A person willing to create value, in either a new or an existing business, while assuming both the risks and the rewards for his or her efforts. |
| Entrepreneurship | A four-stage process that involves the relentless pursuit of an opportunity without regard to owning all the resources needed to capture the opportunity. |
| Entrepreneurial opportunity | Economically attractive and timely opportunity that creates value for interested buyers or end users |
| Bootstrap | Doing more with less in terms of resources invested in a business, and, where possible, controlling the resources without owning them. |
| Franchisee | An entrepreneur whose power is limited by a contractual relationship with a franchising organization |
| Entrepreneurial teams | Two or more people who work together as entrepreneurs on one endeavor |
| Social entrepreneurship | Entrepreneurial activity whose goal is to find innovative solutions to social needs, problems, and opportunities |
| Intrapreneurship | A process within an existing corporation involving an employee who assumes the responsibility for taking a new idea and converting it into a profitable product, service, or a process. |
| Niche market | A specific group of customers with an identifiable but narrow range of product or service interests |
| Personal fulfillment | When your company is about something more significant than yourself will you have a sense that what you are doing is meaningful and well worth the effort. |
| Independence | A strong desire to make their own decisions, take risks, and reap the rewards |
| Reluctant entrepreneurs | A person who becomes an entrepreneur because of some severe hardship |
| Corporate refugees | A person who becomes an entrepreneur to escape an undesirable job situation |
| Paradigm shift | A change in how we fundamentally see a situation |
| Technician personality | A personality that focuses on an already developed technical skill, wants to be left alone to get the job done, and is primarily concerned about the present |
| Manager personality | A personality that is pragmatic and likes order and planning operations |
| Entrepreneur personality | A personality that focuses on the business and providing results for customers |
| Entrepreneurial legacy | Material assets and intangible qualities passed on to both heirs and society. |
Created by:
melinda_rangel
Popular Management sets