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20 Cards in this Set
- Front
- Back
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entrepreneurship |
the creation of new value by an existing organization or new venture that involves the assumption of risk |
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opportunity recognition |
the process of discovering and evaluating changes in the business environment, such as new technology, sociocultural trends, or shifts in consumer demand, that can be exploited |
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angel investors |
private individuals who provide equality investments for seed capital during the early stages of a new venture |
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venture capitalists |
companies organized to place their investors' finds in lucrative business opportunities |
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crowdfunding |
funding a venture by pooling small investments from a large number of investors, often raised on the internet |
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entrepreneurial leadership |
leadership appropriate for new ventures that requires courage, belief in ones convictions, and the energy to work hard even in difficult circumstances; and embody vision, dedication and drive, and commit to excellence |
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entrepreneurial strategy |
a strategy that enables a skilled and dedicated entrepreneur, with a viable opportunity and access to sufficient resources, to successfully launch a new venture |
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pioneering new entry |
a firm's entry into an industry with a radical new product or highly innovative service that changes the way business is conducted |
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imitative new entry |
a firm's entry into an industry with products or services that capitalize on proven market successes and that usually has a strong marketing orientation |
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adaptive new entry |
a firm's entry into an industry by offering a product or service that is somewhat new and sufficiently different to create value for customers by capitalizing on current market trends |
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competitive dynamics |
intense rivalry, involving actions and responses, among similar competitors vying for the same customers in a marketplace |
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new competitive action |
acts that might provoke competitors to react, such as new market entry, price cutting, imitating successful products, and expanding production capacity |
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threat analysis |
a firm's awareness of its closest competitors and the kinds of competitive actions they might be planning |
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market commonality |
the extent to which competitors are vying for the same customers in the same markets |
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resource similarity |
the extent to which rivals draw from the same types of strategic resources |
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strategic actions |
major commitments of distinctive and specific resources to strategic initiatives |
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tactical actions |
refinements or extensions of strategies usually involving minor resource commitments |
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market dependence |
degree of concentration of a firm's business in a particular industry |
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forbearance |
a firm's choice of not reacting to a rival's new competitive action |
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co-opeition |
a firm's strategy of both cooperating and competing with rival firms |
