Unit 1 Flashcards
What exactly is Entrepreneurship according to Fueglistaller?
A process initiated and carried out by individuals, which serves to identify, evaluate, and exploit entrepreneurial opportunities
Are there differences between entrepreneurs and business people according to Fueglistaller?
As a business owner, the activity as entrepreneur often takes a back seat to securing and increasing efficiency, especially in later phases of a company.
What are the entrepreneurial theories?
1755 Cantillon
1828:
1921 Knight
1934,1939 Schumpeter
1973 Kirzner
1968 Leibenstein
2012 Lazear
What economic significance is attributed to entrepreneurship
High Significance, because SMEs:
Contribute to the creation of economic value
provide >50% of jobs
Promote competitiveness and innovation
Contribute to the labour market
Where is the term Entrepreneur coming from and what is the meaning
From the French word “entreprendre”, meaning “to do something” or “to take things into one’s own hands”
What exactly is Entrepreneurship according to Parker?
Am person who organizes and manages a business undertaking, assuming the risk for the sake of profit.
Are there differences between entrepreneurs and business people according to Parker?
The terms business owner and entrepreneur can be used synonymosly.
What is the difference between a company and an enterprise according to Haric
Company = A concrete organizational unit that implements the entrepreneurs goals
Enterprise = Entirety of what the entrepreneur undertakes to pursue their goals
According to German civil law, who is a founder of a business according to Achleitner?
A natural person who takes up a commercial or self- employed professional activity.
When is a company considered to be founded according to Achleitner?
When a partnership or a corporation is established according to the local law OR as a sole proprietor or by taking up a freelance profession
What is a business start up and which facetts does it include?
A business in the early stage of its operations, including taking over an existing business or joining a Frenachise company
What are the requirements to be considered a start up in the Global Entrepreneurship Monitor
Adults who are in the process of starting their business
Adults who are running their business for less than 42 months
What are the SME thresholds in the EU?
Micro: up to 9 employees, 2m Turnover and 2m balance sheet
Small: up to 49 employees, 10m Turnover and 10m balance sheet
Medium: up to 249 employees, 50m Turnover and 43m balance sheet
What is Mittelstand?
SMEs that have unity of ownership and management
Differentiate the term entrepreneurship and SME according to Parker and Fueglistaller?
Large companies can be entrepreneurial ventues
SMEs must not be innovative
