Others Flashcards
Mental Maps (Black & Gregersen)
Representations of information about people, place, and environments (also called cognitive maps)
Brain Barriers (Black and Gregersen)
- Failure to see
- Failure to change
- Failure to finish
Resource-Based Theory (Barney and Clark)
Focuses on the competences and capabilities of the firm rather than its positioning in its chosen markets
Resource in Resource-Based Theory
- Valuable: resources that help a firm create or offer value to a customer
- Rare: rare resources have great value to a market
- Difficult to copy: resources that are hard to duplicate
- Non-substitutable: resources that have no ready substitute
Stage 1 of Entrepreneurship
Discovery (innovation)
Stage 2 of Entrepreneurship
Evaluating the market (research in order to plan, collet, and analyze data about customers, competitors, and the market)
Stage 3 of Entrepreneurship
Structuring the venture (sole proprietorship, partnership, or corporation)
Stage 4 of Entrepreneurship
Strategy (overall direction of the business)
Business Plan
Document prepared by a company’s management, detailing the present/future of the company. Includes production, finance, facilities, HR, etc.
Porter’s Five Forces
- Suppliers
- Customers
- Potential Entrants
- Substitutes
- Competitive Rivalry
Stage 5 of Entrepreneurship
Operational and Financial Planning (policies, budgets, procedures, cash flow, investments required, etc.)
Stage 6 of Entrepreneurship
Business Plan
Stage 7 of Entrepreneurship
Funding the Venture
Stage 8 of Entrepreneurship
Implementation
Idea Champion
The individual who recognizes value of an innovative idea and lends organizational authority and resources to develop and execute innovation
Idea Orchestrator
The individual who recognizes value of innovation and manages it through the organization’s political process
Idea Incubator
In-house program or center shielded from corporate bureaucracy and interference that is meant to engage futuristic thinking and to develop new ideas
New Venture Team
Unit that is separate from the main organization enterprise and is tasked with developing and executing a significant innovation (often housed in separate facilities and free from bureaucracy)
