Entrepreneurship UNIT 1 (The Nature of Entrepreneurship)

Front

An entrepreneur is someone who identifies _______________, starts and grows a business, and assumes the ______________ and rewards of the venture.

Back

an opportunity and risk

Front

Entrepreneurism is a fluid and dynamic process, one where you need to: anticipate and adapt, refuse to react, predict and overlook, prepare and ignore

Back

anticipate and adapt

Front

Entrepreneurs try to create value, while managing ___________ resources in a changing, uncertain business environment.

Back

scarce

Front

When a business innovation dramatically changes the normal order of things, it is said to be:

Back

disruptive

Front

Being an entrepreneur is not only a career choice, but also a lifestyle that may offer some level of: stable income, certainty, broker fees, independence and flexibility

Back

independence and flexibility

Front

Entrepreneurship starts with and revolves around ________________.

Back

an opportunity

Front

What three things need to be analyzed during the Discovery stage of the entrepreneurial process to determine if an idea can become an opportunity?

Back

market, margin, mission

Front

A Business Plan might also be called a

Back

roadmap and/or pitch deck

Front

During the 3rd stage of the entrepreneurial process, “Resourcing”, which of these is often helpful? Analyzing the market, margin, and mission, bootstrapping, writing a pitch deck, deciding whether to sell the company or not

Back

bootstrapping

Front

The 4th stage in the entrepreneurial process is:

Back

Harvesting