Summary: Entrepreneurship And Innovation
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Read the summary and the most important questions on Entrepreneurship and Innovation
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College 1
This is a preview. There are 4 more flashcards available for chapter 22/01/2019
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What does entrepreneurship involve?
the processes of recognizing, evaluating, and exploitation of opportunities. the set of individuals who recognize, evaluate, and exploit them -
What is Entrepreneurial action?
Action through the creation of new products/processes and/or the entry into new markets, which may occur through a newly created organization or within an established organization -
What are the 3 benefits of "design thinking"
Inspiration; what is the problem?
Ideation; how might we solve the problem?
Implementation; how can we make it better? -
College 2
This is a preview. There are 10 more flashcards available for chapter 23/01/2019
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What are Entrepreneurial opportunities?
Novelty
Value
Unmet needs -
What does PEST stand for?
PEST analysis
Political changes
Economic changes
Social/societal changes
Technological changes -
How would you summarize the difference between inventions and innovations?
Difference is demand
Invention is about the generation of new ideas for a new product or process
Innovation is the first commercial exploitation of the idea • Time lag between invention and innovation -
What causes interest for corporate entrepreneurship
Desire for responsibility
Strong need for individual expression and freedom
Discontent within the structured organization -
How would you characterize the individuals undertaking entrepreneurial action within organizations?
know entrepreneurs
have high levels of self-efficacy
have low fear of failure
are able to recognizing startup opportunities -
College 3
This is a preview. There are 14 more flashcards available for chapter 30/01/2019
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What is the Window of opportunity
The period of time when the environment is favorable for entrepreneurs to exploit a particular new entry. -
College 5
This is a preview. There are 13 more flashcards available for chapter 01/02/2019
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What is Bootstrap financing?
using your own money to get your business off the ground.
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