module 1
the word entrepreneur derives from the french words entre meaning _ and prendre _.
the word was originally used to describe people who _ between buyers and sellers or who _ a task such as starting a new venture
between
to take
take on the risk
undertake
_ creates something new
_ assembles and then integrates all the resources needed, the money the people the business model the strategy in the risk bearing ability to transform the invention into a viable business
inventor
entrepreneur
it is the process by which individuals pursue opportunities without regard to resources they currently control
entrepreneurship
it is the conceptualization of entrepreneurship allow the organizational level.
corporate entrepreneurship
types of corporate entrepreneurship
_ this are proactive, innovative, and risk taking.
_ it take you more weight and sea posture which are less innovative and are risk averse.
entrepreneurial firms
conservative firms
what are the primary reasons that people decide to become entrepreneurs and start their own firms
_ an ambition to own their own firm or become frustrated working in traditional jobs
_ some people are naturally alert and when i recognize ideas for new products they have a desire to see those ideas realized
_typically secondary from the first two average entrepreneur does not make more money than someone with a similar amount of responsibility in traditional job
be their own boss
pursue their own ideas
pursue financial rewards
the four primary characteristics of successful entrepreneurs
_ love
_ as many people as possible
_ failure first
_ ability to fashion a solid idea into a viable business
passion for the business
product/customer focus
tenacity
execution intelligence
five most common needs regarding entrepreneurship
_ entrepreneurs are not genetically different from other people
_entrepreneurs are usually moderate risk takers
_ it is nice to think entrepreneurs don't seek financial rewards
_entrepreneur activities fairly evenly spread out over age ranges
_some or flamboyantever majority of them do not attract public attention because they are working on proprietary products or services and avoid public notice
entrepreneurs are born, not made
entrepreneurs are gamblers
entrepreneurs or motivated primarily by money
entrepreneur should be young and energetic
entrepreneurs love the spotlight
economic impact of entrepreneurial firms
-entrepreneurial behavior has a strong impact on an economist strength and stability
_it is the process of creating something new which is central to the entrepreneurial process
_small businesses are the creators of most new jobs and employ more than half of all private sector employees
innovation
job creation
the entrepreneurial process consists of four steps
step 1 deciding to become an entrepreneur
step 2 developing successful business ideas
step 3 moving from an idea to an entrepreneurial firm
step 4 managing and growing the entrepreneurial firm