lecture 1 Flashcards
entrepreneurs (Schumpeter)
individuals who exploit market opportunity through technical and/or organisational innovation. they integrate all resources needed - the money, the people, the business model, the strategy, the technology - to transform an idea into a viable business.
entrepreneurship
the art of turning an idea into a business that satisifies a need.
conceptual entrepreneurship
the conceptualisation of entrepreneurship at the company level. highly entrepreneurial companies are proactive, innovative, and risk taking.
intra-preneurship
the act of behaving like an entrepreneur while working within a company. intrapreneurs desire to bring new ideas for their companies, obtaining the freedom to do so without passing through all the processes existing in companies.
scaleup
a company that has an average annualised return of at least 20% in the past 3 years with at leats 10 employees in the beginning of the period.
passion
an emotional meta experience. it is more than a simple attribute and can be transmitted to employees by positive feelings for the company and a sense of identity relevance for it.
tenacity
the ability to not give up.
entrepreneurial attitude
a function of the environment, life experiences, and personal choices.
focus groups
involve a moderator and a group of people who are familiar with a topic, who can shed light on an issue through an open discussion.
day-in-the-life research
eg. spend a day with a potential customer.
Google Trends
a Google tool that shows the popularity of a search term in Google. you can view if a trend is on the rise or declining. there are useful ways to use it in entrepreneurship. it can be used to observe trends.
gap in the market
exists when a product/service is needed by a specific group of people but it doesn’t represent the interest of mainstream retailers.
