Chapter 2
dark side of entrepreneurship
a destructive side that exists within the energetic drive of successful entrepreneurs
stress
a function of discrepancies between a persons expectations and ability to meet demands as well as discrepancies between the individuals expectations and personality
ethics
a set of principles prescribing a behavioral code that explains what is good and right or bad and wrong
code of conduct
a statement of ethical practices or guidelines to which an enterprise adheres
entrepreneurial mind-set
all the characteristics and elements that compose the entrepreneurial potential in every individual
entrepreneurial persistence
an entrepreneurs choice to continue with an entrepreneurial opportunity regardless of counter influences or other enticing alternatives
entrepreneurial behavior
an entrepreneurs decision to initiate the new venture formation process
family and social risk
entrepreneurs exposing their families to the risks of an incomplete family experience and the possibility of permanent emotional scars
metacognitive model
integrates the combined effects of entrepreneurial motivation and context, toward the development of metacognitive strategies applied to information processing within an entrepreneurial environment
social cognition theory
introduces the idea of knowledge structures - mental models that are ordered in such a way as to optimize personal effectiveness within given situations - to the study of entrepreneurship
risk
involves uncertain outcomes or events; the higher the rewards, the greater the risk entrepreneurs usually face
cognitive adaptability
the ability to be dynamic, flexible, and self regulating in one's cognitions given dynamic and uncertain task environments
psychic risk
the great psychological impact on and the well being of the entrepreneur who creates a new venture
entrepreneurial cognition
the knowledge structures that people use to make assessments, judgements, or decisions involving opportunity evaluation, venture creation, and growth
financial risk
the money or resources at stake for a new venture
role failure
unethical acts against the firm involving a person failing to perform his or her managerial role
role distortion
unethical acts committed on the basis that they are for the firm even though they are not, and involving entrepreneurs who commit individual acts and rationalize that they are in the firms long run interests
role assertion
unethical acts involving entrepreneurs who represent the firm and who rationalize that they are in a position to help the firms long run interests
rationalization
what managers use to justify questionable conduct
career risk
whether an entrepreneur will be able to find a job or go back to an old job if his or her new venture fails