course outcome 1 Flashcards
derived from the French entreprendre, meaning “to undertake.”
entrepreneur
one who undertakes to organize, manage, and assume the risks of a business.
entrepreneur
The willingness to take calculated risks—in terms of time, equity, or career.
The ability to formulate an effective venture team; the creative skill to marshal needed resources.
The fundamental skills of building a solid business plan.
The vision to recognize opportunity where others see chaos, contradiction, and confusion
essential ingredients of an entrepreneur
Recognize opportunities where others see chaos or confusion
Are aggressive catalysts for change within the marketplace
Challenge the unknown and continuously create the future
entrepreneurs
Manage their businesses by expecting stable sales, profits, and growth
small business owners
Focus their efforts on innovation, profitability and sustainable growth
entrepreneurs
- Venture financing
- Social entrepreneurship
- women and minority entrepreneurs
- entrepreneurial education
- family businesses
- global entrepreneurial movement
- entrepreneurial cognition
- corporate entrepreneurship
21st century trends in entrepreneurship research
innovation
new start-ups
job creation
importance of entrepreneurship
entrepreneurs are doers, not thinkers
myth 1
entrepreneurs are always inventors
myth 3
entrepreneurs are born, not made
myth 2
entrepreneurs are academic and social misfits
myth 4
Entrepreneurs Must Fit the “Profile”
myth 5
All Entrepreneurs Need Is Money
myth 6
All Entrepreneurs Need Is Luck
myth 7
Entrepreneurs Seek Success But Experience High Failure Rates
myth 9
Seeking opportunities
Taking risks beyond security
Having the tenacity to push an idea through to reality
entrepreneur mindset
Ignorance is Bliss For Entrepreneurs
myth 8
Entrepreneurs Are Extreme Risk Takers (Gamblers)
myth 10
Commitment, determination, and perseverance
Drive to achieve
Opportunity orientation
Initiative and responsibility
Persistent problem solving
Seeking feedback
Internal locus of control
Tolerance for ambiguity
Calculated risk taking
Tolerance for failure
High energy level
Creativity and Innovativeness
Vision
Self-confidence and optimism
Independence
Team building
Common characteristics of entrepreneurs
Loneliness
Immersion in business
People problems
Need to achieve
sources of entrepreneurial stress
_____ cause entrepreneurship
entrepreneurs
financial risk versus profit
career risk
family and social risk
psychological risk
dark side of entrepreneurship
The extent to which entrepreneurs’ work demands and expectations exceed their abilities to perform as venture initiators, they are likely to experience stress
entrepreneurial stress
