Entrepreneurship CH 2
entrepreneurial experience
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dark side of entrepreneurship
a destructive side that exists within the energetic drive of successful entrepreneurs.
stress
a function of discrepancies between a person's expectations and ability to meet demands, as well as discrepancies between the individual's expectations and personality. if a person is unable to fulfill role demands, then stress occurs.
ethics
a set of principles prescribing a behvioral 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 entrepreneur's choice to continue with an entrepreneurial opportunity regardless of counterinfluences or other enticing alternatives
entrepreneurial behavior
an entrepreneur's decision to initiate the newventure formation process
failure
based on financial data from newly founded ventures; assumes the financial failure process is characterized by too much intnial indevtedness and too little revenue financing
social cognition theory
congnition is used to refer to the mental functions, mental processes (thoughts), and mental processes (thoughts), and mental states intelligent humans. social cognition theory introduces the idea of knowledge structures - mental models (cognition) that are ordered in such a way as to optimize personal effectiveness within give situations - to the study of entrepreneurship
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
risk
involves uncertain outcomes or events. the higher of the rewards, the greater the risk entrepreneurs usually face.
cognition
it refers to mental processes. these processes include attention, remembering, producing and understanding language, solving problems, and making decisions
family and social risk
starting a new venture uses much of the entrepreneur's energy and time. entrepreneurs who are married, and especially those with children, expose their families to the risks of an incomplete family experience and the possibility of permanent emotional scars. in addition, old friends may vanish slowly because of missed gettogether.
cognitive adaptability
the ability to be dynamic, flexible, and self-regulating in one's cognitions given dynamic and uncertain task envrionments
psychic risk
the great psychological impact on the well-being of the entrepreneur who creates a new venture
entrepreneurial cognition
the knowledge structures that people use to make assessments, judgments, or decisions involving opportunity evaluation, venture creation, and growth
financial risk
the money or resources at stake for a new venture
grief recovery
the traditional process of recovering from grief involves focusing on the particular loss to construct an account that explains why the loss occurred
entrepreneurial motivation
the willingness of an entrepreneur to sustain his or her entrepreneurial behavior
role failure
unethical acts against the firm involving a person failing to perform his or her managerial role, including superficial performance appraisals (not being totally honest) and not confronting someone who is cheating on expense accounts
role distortion
unethical acts committed on the basis that they are "for the firm" even though they are not, and involving managers/entrepreneurs who commit individual acts and rationalize that they are in the firm's longrun interests
role assertion
unethical acts involving mangers/entrepreneurs who represent the firm and who rationalize that they are in a position to help the firm's longrun interests
rationalizations
what managers use to justify questionable conduct
career risk
whether an entrepreneur will be able to find a job if his or her venture fails
