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17 Cards in this Set
- Front
- Back
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What is a nascent entrepreneur? |
The stage at which individuals begin to commit resources, such as time and money, to start a business |
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What are the influential factors that could take nascent entrepreneurs to further stages? (3) |
- entrepreneurial competences - demographic characteristics - situational factors |
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What were the main findings of the research of Lebrasseur et al concerning growth momentum? (2) |
- more pre startup activities will lead to higher growth in early stages - if you have no intention to grow, you wont grow |
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What is a Gazelle firm? |
Small but rapidly growing SME, that has at least 50% growth each consecutive year |
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What is the main problem of a Gazelle firm? How can one solve it? |
Losing control of the firm because its growing to fast. Then focus on control, accounting system, internal organization |
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What are the barriers to growth for Gazelles? (8) |
- finding qualified managers and employees - obtaining capital - changing market dynamics - changing legislation - red tape, tax and regulatory processes - management and organizational problems - changing structures, processes and procedures - administrative burden |
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What is a lifestyle entrepreneur? (2 definitions) |
- Individuals who own and generate business closely aligned with their personal values, interests, and passion.
- Making the business dependent of the life they live or want to live |
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What are the characteristics of a lifestyle firm? (4) |
- often not growth oriented - often self-employed people without personnel - often in the art sector or craft sector - often hardly empirical research available |
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In which competences do lifestyle entrepreneurs differ from normal entrepreneurs? (2) |
- higher tolerance for ambiguity - higher internal locus of control |
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What could be the explanation of this difference? (2) |
- Lifestyle entrepreneurs have other reasons than normal entrepreneurs to start business; recover from personal crisis, earn extra money
- They are not pushed in entrepreneurship, they are pulled |
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What was the research subject of Eijdenberg (Guestspeaker) and Masurel in Uganda? |
Entrepreneurial motivation in a least developed country: pull factors and push factors in Uganda. |
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What is a pull factor? |
Positive motivations moving individuals towards entrepreneurial activity. --> opportunity based |
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What is a push factor? |
Negative motivations moving individuals towards entrepreneurial activity. --> necessity based
Other employment options are either absent or unsatisfactory |
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What kind of pull factors are there? (12) |
Think of the entrepreneurial competences!
- need for achievement - locus of control - desire for independence - passion - goal setting - self efficacy - risk taking - financial success - role models - innovation - entrepreneurial effect - recognition by peers |
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What kind of push factors are there? (5) |
- refugee effect = werkloosheid - inability to find paid job - redundancy = start business because fired - necessity - underpayment |
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What was the contribution of the research of Eijdenberg and Masurel? (2) |
- Western method of measuring entrepreneurial motivation can be uniform and is therefore globally applicable - Push and pull factors can exist together - pull factors dominate push factors - necessity is still an important factor - motivation is a combined and more nuanced construct
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COLLEGE 6: What are the five tips from Viktor when starting up your business? |
- your idea must fascinate you - choose good co-founders - aim high with your first investor - prepare for incredible highs and lows - hire experienced staff as early as you can
Masurel on preparation: Thinks that you cant prepare, and that Viktor wasn't prepared. |
