Entrepreneurship
drucker- entrepreneurship:
-is part of management; it is the management of innovation -must be systematic and purposeful -can be practiced by individuals or organizations -can be learned
in the U.S. alone, entrepreneurs start more than ____ business a year
6 million
most forms of entrepreneurship prior to the publishing of drucker's innovation and entrepreneurship involved product development, market development and diversification offered by:
Ansoff
according to guy kawasaki, current venture capitalist and previously the chief evangelist for the Makintosh division of Apple, when commercializing a new innovation you must desire to make meaning, not money. the following are ways to do this:
prevent the loss of something good, make the wold a better place
successful innovation can result from addressing a ____ in the market or creating a _______
problem; need
according to drucker, innovations that are based on ______ is something that everyone knows exists, yet few do anything about it
process
______ is task focused and perfects something that already exists. it replaces a weak link, redesigns existing one and sometimes supplies "missing link"
process need
phenomenon are:
processes or active characteristics of nature
knowledge0 based innovation differs from all other innovations in its basic characteristics regarding:
time and costs, casualty rate, predictability, that challenges it poses to the entrepreneur (all the above)
according to Drucker, innovation does not have to be technical and it may not be a "thing" at all, it can be a service or other intangible. one examples of this is insurance. true or false?
true
in all business are career pursuits, decisions have to be made which to some extent include:
uncertainty
the concept for why someone would pay to receive a service or product is called:
value proposition
the terms "enterprising" and "entrepreneurial" define the ends of a spectrum representing the extent to which innovation can collapse the time frame of:
wealth creation
successful innovation based on process needs require:
a self-contained process, one "weak" or missing link, a clear definition of the objective, a clear specification of the solution with widespread realization that "there ougt to be a better way" (all the above)
one of the most important areas of demographic information is based on _______ are what drucker refers to as the "center of population gravity"
age
arthur states that technology evolution is different from biological evolution in that
all the above
arthur's combinations and structure of technology includes:
all the above
drucker's do's write the principles of innovation included:
all the above
with regard to "finding a bas principle" arthur states that invention starts from a purpose; to find a solution to some perceived need arising from:
all the above
the five principles of innovation begin with:
an analysis of the opportunity
"... in a sense _____ is nothing more than the clever organization of _____ to provide what we need"
an economy; technologies
entrepreneurs are typically people that:
are diverse in every respect
according to arthur, to establish a "technology", "phenomenon" must be:
both a and c
the entrepreneur always searches for _______, responds to it, and exploits it as ______.
change; an opportunity
arthur states, "beauty in technology does not require originality... design works by combining and manipulating cliches. still beautiful design always contains some unexpected combination that shocks us with appropriateness" this closely parallels drucker's concepts of:
combinations of existing offerings and innovation
when the technological capabilities of one industry provide innovative opportunities in combination with those of another industry, this is called:
convergence
Joseph Schumpeter, referred to the phrase that the entrepreneur's task is one of:
creative destruction
_______ is ability to develop new idea and to discover new ways of looking at problems and opportunities
creativity
according to drucker, there is nothing more _______ than to be premature in exploiting a change in perception
dangerous
of all external changes, ______ are the clearest and have the most predictable consequences.
demographic changes
"They create something new, something different; they change or transmutre value." What was Drucker describing by this statement?
entrepreneurs
the overwhelming majority of successful innovations ______ change
exploit
entrepreneurship is confined solely to economic institutions true or false?
falso
self-repeating concepts often found in nature that demonstrate recursiveness are called:
fractals
with regard to concept of "innovation", Aruther states that, popularly, it is invoked wherever some _____ is put into practice or some _____ is tried, no matter how trivial
improvement ; new idea
in arthur's "questions" chapter, a parallel to darwinian evolution theory was accounting for _____ vs. ____ novelty
incremental; radical
"domains" define families of phenomenon and thus groupings of technologies that can define _____ an possibly establish different ______.
industries; academic disciplines
drucker's dont's write the principles of innovation are effectively the converse of the do's except for:
innovate for the present
______ is the ability to apply creative solution to problems and opportunities to enhance or to enrich people's lives
innovation
According to Peter Drucker, ______ is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service. It is the act that endows resources with a new capacity to create _____.
innovation: wealth
all other forms of innovation exploit a change that has already occurred - they satisfy a need that already exists. in _______ innovation, the innovation brings about the change. it aims at creating a want and no one can tell in advance whether the market is going to b receptive, indifferent or actively resistant
knowledge based
innovation is about making a contribution through
new value, different value, combining resources in a more productive way
according to the article "why an economic crisis could be the right time for companies to engage in disruptive innovation" the concept of _____ describes where partners collaborate to solve business problems
open innovation, also knows as "crowdsourcing"
based on our class discussion, a change in ______ has been highly influential and fueled the growth of the micro-brew industry
perception
technologies result from the purposeful harnessing of:
phenomenon
demographic changes included shifts in:
population, its size, age structure, employment, educational status and income
ansoff
pre-drucker matrix for "entrepreneurial" development id product lines and markets
technologies are structured from a combination of components with _____ and a main assembly that caries out a base function plus _____ that support it
a central concept or purpose; subassemblies "modules"
blue ocean strategy:
a combination of "market driven" and "market driving" innovation, seeks to simultaneously raise consumer value and lower costs. "diverge" from the established offering attributes the market anticipates
according to drucker, one of the most common reasons that industry structure changes is due to:
rapid growth
technologies have a _____ structure- collectively technologies have advanced by discovery and capture of _____ and exploitation of their effects
recursive; phenomenon
technologies do not offer a set of limited function- _____ provides endless novel combinations for endless novel purposes
restructuring
domains are families of technologies that through shared phenomenon or other natural connectivity parallel _____.
science and engineering fields and academic disciplines
a "value proposition" is essential to a successful innovation or venture concept and includes:
socio-economic relationship of the new venture's offering to the customer
technologies are ____ but _____ - their interior components are constantly changing
static, dynamic
entrepreneurs see change as:
the norm, healthy, and as an opportunity
innovation
the specific tool use by entrepreneurs to create new value
"anything that contradicts what we have come to consider a law of nature is then rejected as unsound, unhealthy and obviously abnormal" this statement describes one of the issues associated with:
the unexpected success
"if this really does present an opportunity, we would have thought of it before" this statement may occur in the case of:
the unexpected success
according to drucker, U.S. steel companies rejected the "mini-mill" in the 1970s based on the principal of:
the unexpected success