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20 Cards in this Set
- Front
- Back
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What are the 4 theories in entrepreneurship? What are the 4 theories in entrepreneurship? |
• Innovation Theory • Keynesian Theory • Alfred Marshal Theory • Risk and Uncertainty Bearing Theory |
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Other theories in entrepreneurship |
- Weber's Sociological - Kaldor's Technological - Leibenstein's Gap-Filling - Kirzner's Learning Alertness |
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refers to the mark or attribute that distinguishes an entrepreneur from an ordinary business person. |
Character Trait |
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directly related to an entrepreneur's desire to be an achiever in the field of entrepreneurship. |
Achievement Cluster |
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Achievement Cluster |
- pportunity seeker - committed - risk-taker (aggressive, moderate, conservative) - efficient and quality orientated |
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characteristic of successful entrepreneur that basically supports the character traits in the achievement cluster. |
Planning Cluster |
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Planning Cluster |
- goal seeker - information seeker - systematic in planning and monitoring |
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the degree of the interpersonal relations maintained by successful entrepreneurs. |
Power Cluster |
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Power Cluster |
- persuasive and positive networker - self-confident |
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personal abilities to do things well. |
Skills |
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ability of the entrepreneur to learn new things, generate new ideas. |
Cognitive skills |
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information technology, Technical writing skills, marketing, management and finance, feasibility and business plan preparation |
Technical Skills |
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relationship and interaction of the entrepreneur. |
Interpersonal Skills |
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What are the entrepreneurial skills? |
Cognitive, Technical, Interpersonal, Problem-Solving Skills |
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Salient features of entrepreneurship |
• an art of correct practice • a risk taking venture • a wealth-creating venture • entails people in opening and managing self owned and wealth-creating Enterprise • provides valuable goodsand services |
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Refers to the physical, societal, and industry environment. |
External Environment |
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- climate - physical resources - wildlife |
Physical Environment |
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- government - competitors - suppliers - customers - creditors - employees |
Industry Environment |
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- economic forces - sociocultural forces - political forces - technological environment |
Societal Environment |
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Forces |
• economic forces • sociocultural forces • political forces • technological environment |
