Nature & Growth Of Entrepreneurship (Module 1) Flashcards
The French word entrepreneur was coined by who?
Jean-Baptiste Say, an economist
Who coined the word Unternehmergeist?
Joseph Schumpeter
What is Creative Destruction?
The process whereby products, processes, ideas and businesses are replaced by better ones
Who is known as the father of modern management?
Peter Drucker, (management consultant, educator and author)
Which of the founders reinforced innovation?
Peter Drucker
Which founder conceptualized the entrepreneur as a risk-bearer?
Richard Cantillon
What is globalization?
It is the ability of businesses to move beyond national/ domestic markets to other markets around the globe.
An example of institutional support?
Incubators or accelerators
What are incubators?
They take young businesses in for 2 or 3 years and assist them in different ways until they grow and are strong enough to venture out on their own
Film, music , fashion, art and dance fall under which industry?
Creative and cultural industries
Who is an entrepreneur?
An individual who creates new business in the face of risk and uncertainty for the purpose of achieving profit and growth.
