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28 Cards in this Set
- Front
- Back
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entrepreneurial opportunity
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A value-creating innovation with market potential.
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entrepreneur
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A person who starts and/or operates a business.
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reluctant entrepreneur
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A person who becomes an entrepreneur as a result of some severe hardship.
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refugee
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A person who becomes an entrepreneur to escape an undesirable situation.
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founder
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An entrepreneur who brings a new firm into existence.
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franchisee
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An entrepreneur whose power is limited by a contractual relationship with a franchising organization.
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high-potential venture
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A small firm that has great prospects for growth.
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attractive small firm
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A small firm that provides substantial profits to its owner.
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microbusiness
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A small firm that provides minimal profits to its owner.
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lifestyle business
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A microbusiness that permits the owner to follow a desired pattern of living.
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entrepreneurial team
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Two or more prople who work together as entrepreneurs on one endeavor.
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artisan entrepreneur
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A person with primarily technical skills and little business knowledge who starts a business.
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opportunistic entrepreneur
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A person with both sophisticated managerial skills and technical knowledge who starts a business.
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internal locus of control
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A belief that one's success depends on one's own efforts.
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external locus of control
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A belief that one's life is controlled more by luck or fate than by one's own efforts.
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precipitating event
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An event, such as losing a job, that moves an individual to become an entrepreneur.
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entrepreneurial legacy
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Material assets and intangible qualities passed on to both heirs and society.
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integrity
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An uncompromising adherence to doing what is right and proper.
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ethical issues
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Questions of right and wrong.
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stakeholders
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Individuals who can affect or are affected by the performance of the company.
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social responsibilities
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Ethical obligations to customers, employees, and the community.
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intellectual property
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Original intellectual creations, including inventions, literary creations, and works of art, that are protected by patents or copyrights.
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ethical imperialism
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The belief that the ethical standards of one's own country can be applied universally.
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ethical relativism
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The belief that ethical standards are subject to local interpretation.
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underlying values
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Unarticulated ethical beliefs that provide a foundation for ethical behavior in a firm.
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code of ethics
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Official standards of employee behavior formulated by a firm.
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bait advertising
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An insincere offer to sell a product or service at a very low price, used to lure customers in so that they can be switched later to a more expensive product or service.
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environmentalism
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The effort to protect and preserve the environment.
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