Module 6 Flashcards
Commercialization strategy
The strategic choices an entrepreneur makes to finance later-stage development of a venture
Corporation
A legal structure for business that exist apart from the individuals who owned it (shareholders) and operate it (directors and officers).
Creativity
The generation of new ideas by individuals in teams
Corridor principle
The idea that new ventures can surface new and unintended market opportunities
Strategy
A plan of action design to achieve specific goals or objectives in a venture.
Intrapreneur
A manager within a firm tasked with fostering innovation through entrepreneurial activities
Partnership
A legal structure of co-ownership between two or more people who go into business together and share in any profits or losses
Sole proprietorship
The simplest legal structure where the sole owner is not legally distinct from the business
Innovation
The process by which new ideas are converted into new products, business practices, and strategies that create value.
Elevator pitch
A quick, Succinct summation of an entrepreneurial opportunity.
Resource based theory
A model Advanced by jay b Barney and Delwyn n Clark that focuses on the competencies and capabilities of the firm in creating competitive advantage
Entrepreneur
An individual who starts, organizes, manages, and assumes the risks and responsibilities of a business or enterprise.
Entrepreneurship
The process of innovating with products or services for the purpose of creating wealth for the entrepreneur while adding value to society
SWOT analysis
Strategic analysis of a ventures strengths, weaknesses, opportunities,‘s and threats.
Market niche
The subset of the market on which a specific product or service is focused on
Equity financing
When an entrepreneur receives cash from an investor in exchange for equity in the company
Angel capital
Investments in new ventures made by wealthy individuals (angels).
Accounts receivable
Money due from clients for products delivered or services performed
Debt financing
When an entrepreneur borrows cash and agrees to pay back the lender the original loan amount, plus the premium, by an agreed-upon future date.
Accounts payable
Payments due to suppliers for products and services
 Venture capital (VC)
Investments in new ventures with exceptional growth potential
Social innovation
The creation of innovative solutions to complex social problems
Mission statement
A brief written statement of the vision and purpose of a venture or organization
Social entrepreneurship
The process of developing innovative solutions for society’s most pressing social problems using entrepreneurial tools and techniques
Intrapreneurship
The entrepreneurial process conducted within an established organization
Strategic planning
A process to determine the mission, objectives and strategies of a venture or organization and then finding ways to achieve the identified vision
Serial entrepreneur
An entrepreneur who starts numerous businesses overtime
Private placement
The method of raising capital through security sold without a public offering (to select private investors).
