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.