Entrepreneurship 1st Semester STUDY GUIDE

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

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

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

This stage of the entrepreneurial process is where you determine if your idea fills a void or gap in the marketplace, whether it meets a want or need:

Back

Discovery

Front

The primary differences between small business and entrepreneurship are in the areas of growth, __________, vision, and ___________.

Back

innovation and risk-taking

Front

The introduction of something new – a new idea, product, method, device, or service, is called:

Back

innovation

Front

A plumber, electrician, hairdresser, and landscaper are examples of:

Back

Small Business Entrepreneurship

Front

This type of entrepreneurship attracts those who are creative and motivated, always looking for new ideas and inventions.

Back

Innovative Entrepreneurship