Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
14 Cards in this Set
- Front
- Back
|
Opportunity Recognition
|
searching and capturing new ideas that lead to business opportunities. This process often involves creative thinking that leads to discovery of new and useful ideas
|
|
|
Entrepreneurial Alertness
|
a special set of observational and thinking skills that help entrepreneurs identify good opportunities; the ability to notice things that have been overlooked, without actually launching a formal search for opportunities, and the motivation to look for opportunities
|
|
|
License
|
a legal agreement granting you rights to use a particular piece of intellectual property
|
|
|
Licensee
|
the person or firm which is obtaining the rights to use a particular piece of intellectual property
|
|
|
Licensor
|
the person or organization which is offering the rights to use a particular piece of ineffectual property
|
|
|
Royalty
|
a payment to a licensor based on the number or value of licensed items sold
|
|
|
Creativity
|
a process producing an idea or opportunity that is novel and useful, frequently derived form making connections among distinct ideas or opportunities
|
|
|
Radical Innovation Strategy
|
rejecting existing ideas, and presenting a way to do things differently
|
|
|
S.C.A.M.P.E.R.
|
Substitue
Combine Adapt Magnify or modify Put to other uses Eliminate Rearrange |
|
|
Imitative Strategy
|
an overall strategic approach in which the entrepreneur does more or less what others are already doing
|
|
|
Incremental Strategy
|
taking an idea and offering a way to do something slightly better than it is done presently
|
|
|
Feasibility
|
the extent to which an idea is viable and realistic and the extent to which you are aware of internal and external forces that could affect your business
|
|
|
Pilot Test
|
a preliminary run of a business, sales effort, program, or web site with the goal of assessing how well the overall approach works and what problems it might have
|
|
|
Conversion Rate
|
the measure of how many visitors to your web site actually make a purchase from you
|
