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15 Cards in this Set

  • Front
  • Back
process of intitiating a business venture, organizing necessary resources, and assuming the associated risks and rewards
Someone who recognizs a viable ideas for a business porduct, or service and carries it out
5 categories of small business ower
idealist, hard worker, juggler, optimizer, sustainer
6 characteristics of very successful entrepreneurs
internal locus of control, high energy level, need to achieve, self confidence, awareness of passing time, tolerance of ambiguity
the belief by individuals that their future is in control and external forces value little influence
internal locus of control
business requires great effot, entrepreneuer works hard despite trauma
high energy lever
people are motivated to excel and pick situations in which success is likely which are moderately difficult
need to achieve
act decisively when start a business, feel confident about day to day decisions
self confidence
impatient, feel a sense of urgencym seize the moment
awareness of time
psychological characteristic that allows individuals to be untouched by disorder and uncertainity
Tolerance of ambiguity
a desired future state that the organization attepts to realize
a blueprint specifying the resource allocations, schedules, and other actions neccessary for attaining goal
the act of determining the org, gals and the means of achieving them
levels of goals/ plans
1. mission statement (basis for strategic goals) 2. Strategic goals/plans (the managers/ efficiency and effectiveness) 3. Tactical goals (division managers) 4. operational goals ( specific tasks)
organizations reason for existence