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Related Flashcards
Related Topics
Cards In This Set
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Definition: The pursuit of lucrative opportunities by enterprising individuals
Entrepreneur|small business|entrepreneurial venture|intrepreneurs|entrepreneurship| |
Entrepreneurship
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How does an entrepreneur different from a manager?
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An entrepreneur is a manager but engages in additional activities and uses network of contacts. Managers use formal authority; entrepreneur acts quicker and actively manages risk; managers are slow to act and tend to avoid risk.
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Definition: having fewer than 100 employees, being independently owned and operated, not dominant in its field, not characterized by many innovative practices.
Entrepreneur|small business|entrepreneurial venture|intrapreneurs|entrepreneurship| |
Small business
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Definition: has growth and high profitability as primary objectives
Entrepreneur|small business|entrepreneurial venture|intrapreneurs|entrepreneurship| |
Entrepreneurial venture
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In the US since __________, more than _____% of wealth has been created by entrepreneurs.
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1980; 95
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Definition: individuals who establish a new organization without the benefit of corporate sponsorship.
Entrepreneur|small business|entrepreneurial venture|intrapreneurs|entrepreneurship| |
Entrepreneur
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Definition: new-venture creators working inside big companies; use their company's resources to build a profitable line of business based on a fresh new idea.
Entrepreneur|small business|entrepreneurial venture|intrapreneurs|entrepreneurship| |
Intrapreneurs
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Why become an entrepreneur?
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To start own firms because of the challenge, profit potential, and enormous satisfaction hope lies ahead, better quality of life, seeks independence, feeling part of the action, see progress or ideas blocked at big corporations.
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What are characteristics for a successful entrepreneurs?
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Innovators, good knowledge of skills in management, business, and networking.
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What are some opportunities/trends to check when considering as an entrepreneur opening a business?
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Technological discoveries, demographic changes, lifestyle and taste changes, economic dislocations, calamities, and government initiatives and rule changes.
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Definition: An entrepreneurial alliance between two organizations, the franchisor and the franchisee
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Franchising
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What is the benefit for a franchisee?
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The opportunity of wealth creation by a proven (not bulletproof) business concept, with the added advantage of the franchisor's expertise.
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Definition: charging fees for goods and services.
transaction fee model|advertising support model|intermediary model|affiliate model|subscription model |
Transaction fee model
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Definition: charging fees to direct site visitors to other companies' sites.
transaction fee model|advertising support model|intermediary model|affiliate model|subscription model |
Affiliate model
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Definition: charging fees to bring buyers and sellers together.
transaction fee model|advertising support model|intermediary model|affiliate model|subscription model |
Intermediary model
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