INTRO TO ENTREP NO.1 Flashcards
may be defined as the visualization and realization of new
ideas by insightful individuals, who are able to use information and mobilize resources to implement their vision.
ENTREPRENEURSHIP
KAY SIN O NI DEFINITION SANG ENTREPRENEURSHIP
- definition of entrepreneurship includes all kinds of
opportunity-seeking behaviour- in his own words encompassing, for instance, political rent-seeing and “organised crime”.
BAUMOL’S
KAY SIN O NI DEFINITION SANG ENTREPRENEURSHIP?
- Entrepreneurship is the manifest ability ang willingness
of individuals, on their own, in teams, within and
outside existing organizations to perceive and create
new economic opportunities, and to introduce their
ideas in the market, in the face of uncertainty and other
obstacles, by making decisions on location, forma d the
use of resources and institutions.
WENNEKERS AND THURIK
Entrepreneurship can be understood as, An ______ where an idea is generated or an opportunity is created, refined, developed and implemente
ECONOMIC PROCESS
WHAT ARE THE 9 TYPES OF ENTREPRENEURSHIP?
SMALL BUSINESS ENTREPRENEURSHIP
LARGE COMPANY ‘’
SCALABLE STARTUP ‘’
SOCIAL ‘’
INNOVATIVE ‘’
HUSTLER ‘’
IMITATOR ‘’
RESEARCHER ‘’
BUYER
Involves individuals or small teams creating businesses
primarily to support their families and maintain a modest lifestyle.
These ventures typically do not aim for large-scale expansion or
significant profits.
SMALL BUSINESS ENTREPRENEURSHIP
Occurs within established companies that innovate and
introduce new products or services to meet market demands and adapt to consumer preferences. This type often involves teams of executives and significant resources.
LARGE COMPANY ENTREP
Entrepreneurs in this category aim to create companies
that can grow rapidly and have a significant impact on the market.
They often seek venture capital funding and focus on innovative
solutions.
SCALABLE STARTUP ENTREP
Focuses on developing solutions to social, cultural or
environmental issues. The primary goal is to make a positive impact on society rather than generating profit.
SOCIAL ENTREP
Centers on bringing new ideas, products or services to the
market. These entrepreneurs often challenge existing norms
and create groundbreaking solutions.
INNOVATIVE ENTREP
Characterized by hard work and determination, hustler
entrepreneurs often start small and rely on their effort and
persistence to grow their business.
HUSTLER ENTREP
Involves copying or improving upon existing business
ideas. Imitators learn from others’ successes and aim to
make enhancements to gain competitive edge.
IMITATOR ENTREP
These entrepreneurs rely heavily on data and research before
launching a business. They ensure they have a comprehensive
understanding of the market and the feasibility of their ideas.
RESEARCHER ENTREP
Involves purchasing existing business and improving their
profitability. Buyer entrepreneurs have the capital to invest and the
insight to recognize potential in undervalued business.
BUYER ENTREP
