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34 Cards in this Set

  • Front
  • Back
Entrepreneurs who want to establish an edge over competitors; thus they tend to adopt technologies soon after their release.
Early Adopters
The fundamental objective of business in a free enterprise system
The study, understanding, and practice of business as a process from the perspective of the chief executive officer.
Business management that differs from entrepreneurial management in that it concerns a small business that is not interested in growth and that differs from traditional management in that it concerns small rather than large organizations
- ____ is focused on stability and maintaining a relaible customer base.
Small Business Management
In this text, the chief executive officer of his or her organization
A person who works within the organization using the tools and methods of the entrepeneur
The principles, techniques, and approaches that are practiced by managers in large organizations.
- _______ is focused on large company issues and challenges
Traditional Management
A tendency to avoid risk
Risk Averse
Although there is only one entrepreneur per organization, there can be many intrapreneurs.
(T or F)
Any product or service that possesses large growth opportunities is considered a good entrepreneurial business idea. (T or F)
An entrepreneur's job is simply to come up with business ideas. (T or F)
An entrepreneur must not be risk averse. (T or F)
Traditional management firms are less stable than entrepreneurial firms.
(T or F)
Joseph Schumpeter believed that creative destruction is good for an economy in the long run. (T or F)
The main focus of entrepreneurism must always remain on the entrepreneur.
(T or F)
The three basic elements of a business process are revenue, profit, and entrepreneurs. (T or F)
Entrepreneurs do not involve themselves in any aspect of the business. (T or F)
Entrepreneurial management focuses on stability and maintaining a reliable customer base. (T or F)
Which type of management attempts to flatten the organization in order to achieve timely decisions from the highest possible level?
Entrepreneurs are often ______________ of affordable new technologies.
Early Adopters
Which of the following factors must an entrepreneur consider when deciding between the traditional and the entrepreneurial management methods?
1) The business size
2) Flexibility
3) Focus and emphasis of the CEO.
4) All of the above
In order to be effective, the teaching of the business process must be done from the viewpoint of
the CEO
Which of the following is the fundamental objective of businesses in a free enterprise system?
Revenue-Cost =
Price * Volume =
Three Forms of Management
1) Entrepeneurial Managment
2) Traditional Managment
3) Small Business Management
Is focused on growth and an exit strategy
Entrepeneurial Managment
P&L Statement
Cash Statement
Beginning balance+Inflows-Outflows=Ending Balance
Balance Sheets
Special Reports
Revenue (if any) or total cost from cost center/Number of Units
The wedding planner. She talked and then eventually her business expanded, and she also talked about how important networking is, and that being in the entrepreneurship program at UH helped her out.
Owner of Buchannan Ventures. Talked about (3) movies
- The Matrix
- Star Wars
- The Godfather
Carlos Buchanan
_______ who established McVaugh homes