MGMT 475 Chapter 1 Key Words

What is effectuation?

an approach used to create alternatives in uncertain environments

What is crowdsourcing?

techniques often based on internet based services to get opinions or ideas through the collective involvement of others

What is perseverance?

the behavior of continued effort to achieve a goal

What is mindshare?

the degree of attention your target market pays to your idea or organization

What is innovation?

the entrepreneurial focus which looks at a new thing or a new way of doing things

What is customer focus?

the entrepreneurial focus which refers to being in tune with one's market

What is efficiency?

the entrepreneurial focus which refers to doing the most work with the fewest resources

What is independent entrepreneurship?

the form of entrepreneurship in which a person or group own their own for profit business

What is social entrepreneurship?

the form of entrepreneurship involving the creation of self-sustaining charitable and civic organizations, or for profit organizations which invest significant profits in charitable activities

What is corporate entrepreneurship?

the form of entrepreneurship which takes place in existing businesses around new products, services, or markets

What is focuses on entrepreneurship?

the key directions the organization intends to pursue