Wednesday, March 6, 2013

Entrepreneurship- Key terms

1. Breakthrough innovations- A new product with some technological change.
2. Business ethics- The study of behavior and morals in a business situation.
3. Desirability of new venture formation- Aspects of a situation that make it desirable to start a new company.
4. Entrepreneur- Individual who takes risks and starts something new
5. Entrepreneur as an innovator- An individual developing something unique.
6. Entrepreneurial decision process- Deciding to become an entrepreneur by leaving present activity.
7. Entrepreneurship- Process of creating something new and assuming the risks and rewards
8. Foundation companies- A type of company formed from research and development that usually does not go public.
9. Gazelles- Very high growth ventures.
10. Government as an innovator- A government active in commercializing technology.
11. High-potential ventures- A venture that has high growth potential and therefore receives great investor interest.
12. Intrapreneurship- Entrepreneurship within an existing organization
13. Iterative synthesis- The intersection of knowledge and social need that starts the product development process.
14. Lifestyle firm- A small venture that supports the owners and usually does not grow.
15. Ordinary innovations- A new product with little technological change.
16. Possibility of new venture formation-Factors making it possible to create a new venture.
17. Product-evolution process-Process for developing and commercializing an innovation.
18. Risk taking-Taking calculated chances in creating and running a venture.
19. Technological innovations- New products with significant technological advancement.
20. Technology transfer- Commercializing the technology in the laboratories into new products.

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