Entrepreneurial Terms 1
High-growth venture
A firm started with the intent of eventually going public, following the pattern of growth and operations of a big business
Self-efficacy
A person's belief in their ability to achieve a goal.
Creativity
A process producing an idea or opportunity that is novel and useful, frequently derived from making connections among distinct ideas or opportunities.
Effectuation
An approach used to create alternatives in uncertain environments.
Innovation-driven economies
An economy characterized by high-value-added manufacturing and a large portion of the economy provided by services, such as the US or Germany.
Efficiency-driven economy
An economy characterized by moderate levels of industrialization such as Russia or Brazil.
E-Commerce
Business conducted on the Internet.
Crowdfunding
Funding a business online through the collective involvement of others to proivide donations, a loan or investment
Crowdsourcing
Techniques often based on Inter-based services to get opinions or ideas through the collective involvement of others.
Innovation
The entrepreneurial focus which looks at a new thing of a new way of doing things.