Term
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Definition
| Involves 1-5- people and has its owner managing the business on a day-to-day basis |
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Term
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Definition
| A person who owns or starts an organization, such as a business |
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Definition
| A part of the United States government which provides support and advocacy for small businesses |
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Definition
| Offices co-sponsored by states and the federal government that offer free or low-cost help to existing and potential SB |
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Term
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Definition
| A facility which offers subsidized space and business advice to companies in their earliest stages of operation |
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Term
| Small and medium enterprise |
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Definition
| The international term for small businesses. |
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Term
| Independent small business |
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Definition
| A business owned by an individual or small group. |
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Term
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Definition
| The individual who owns and runs a business |
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Term
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Definition
| Characterized by being different or new |
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Term
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Definition
| Characterized by being like or copying sth that already exists |
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Term
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Definition
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Term
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Definition
| people who create or start new businesses |
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Definition
| a prepackaged business bought, rented, or leased from a company called a franchisor |
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Term
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Definition
| people who purchase an existing business |
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Term
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Definition
| a person who becomes an owner through inheriting or being given a stake in a family business |
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Term
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Definition
| refers to how important a role new ideas, products, services, processes, or markets play in an organization |
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Term
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Definition
| refers to the potential market size |
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Term
| dynamic capitalism typology |
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Definition
| a model of an economy categorizing businesses based on their innovativeness and growth rate |
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Term
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Definition
| the most numerous and most widely available type of firm, also called SB, ranging from low to moderate levels of innovation and growth |
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Term
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Definition
| consists of firms with high growth and high innovation. These are among the most visible firms in the media |
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Term
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Definition
| firms with exceptionally high innovativeness and growth rates, making them candidates for possible venture capital funding |
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Term
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Definition
| consists of franchises and multisite firms, with low to moderate innovation and high levels of growth. |
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Term
| resource constrained sector |
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Definition
| consists of firms high in innovation but low in growth rate due to a lack of resouces |
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Term
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Definition
| what people get from facing and beating challenges |
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Term
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Definition
| the money made by owning one's own business |
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Term
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Definition
| the ability of business owners to structure life in the way that suits their needs best |
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Term
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Definition
| the sequence or organization of jobs and careers in the economy |
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Term
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Definition
| the way that newly created goods, services, or firms can hurt existing good, services, or firms |
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Term
| forms of entrepreneurship |
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Definition
| the settings in which the entrepreneurial effort takes place |
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Term
| PICS Model of Entrepreneurship |
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Definition
| an acronym for the four forms of entrepreneurship - Public, Independent, Corporate and Social |
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Term
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Definition
| the entrepreneurial focus which looks at the making of new entities |
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Term
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Definition
| the entrepreneurial focus which refers to being in tune with one's market |
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Term
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Definition
| The entrepreneurial focus wich refers to doing the most work with the fewest resources |
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Term
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Definition
| the entrepreneurial focus which looks at a new thing or a new way of doing things |
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Term
| independent entrepreneurship |
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Definition
| the form of entrepreneurship in which a person or group own their own for-profit business |
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Term
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Definition
| the form of entrepreneurship that involves revitalizing government agencies |
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Term
| corporate entrepreneurship |
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Definition
| the form of entrepreneurship which takes place in existing businesses around new products, services or markets |
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Term
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Definition
| the form of entrepreneurship involving the creation of self-sustaining charitable and civic organizations, or for-profit organizations which invest significant profits in charitable activities |
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Term
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Definition
| the degree of attention your target pays to your idea or organization |
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Term
| focuses of entrepreneurship |
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Definition
| the key directions the organization intends to pursue |
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Term
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Definition
| a system of values that people consider in determining whether actions are right or wrong |
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Term
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Definition
| a situation that occurs when a person's values are in conflict, making it unclear whether a particular decision is the right thing to do |
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Term
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Definition
| a feeling of fairness in all business transactions in which the firm engages, such as financial transactions, employee matters, regulatory compliance, and complaint resolution |
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Term
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Definition
| a process in which people take responsibility for decisions they make and the consequences of those decisions |
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Term
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Definition
| a set of shared beliefs, basis assumptions, or common, accepted ways of dealing with problems and challenges within a company that demonstrate how things get done. |
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Term
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Definition
| when SB owners act in ways they want their employees to act |
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Term
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Definition
| maintaining the same behavior, attitude, or value over long periods of time |
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Term
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Definition
| demonstration of a behavior, attitude, or value in ways that are evident to others |
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Term
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Definition
| attitudes regarding what a person believes is important in life and the best way to live one's life |
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Term
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Definition
| beliefs about what is right and wrong which guide decisions in everyday life |
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Term
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Definition
| the freedom of not having lots of rules, policies, and procedures |
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Term
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Definition
| the creation of something new or trying something for the first time |
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Term
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Definition
| a process used to better consider issues of right and wrong |
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Term
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Definition
| basic ideas about what constitudes right behavior |
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Term
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Definition
| the social force which impels people who make decisions or have responsibilities to act ethically because the actions they take could affect many other people |
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Term
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Definition
| an ethical overview which involves thinking of problem solving as a win-lose issue. Compare to the integrative view |
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Term
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Definition
| an ethical overview which involves considering what is the best for every one involves in a situation. Compare to the distributive view |
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Term
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Definition
| an ethical model that supports seeking the greatest good for the greatest number of people |
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Term
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Definition
| an ethical model that suggests that there is a code of right and wrong that everyone can see and follow |
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Term
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Definition
| An ethical model which suggests you treat others in the manner you wish to be treated |
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Term
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Definition
| an ethical model that asks whether someone would be comfortable having his or her decision and name advertised on a billboard for the public to see |
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Term
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Definition
| characteristics of a business, like trust, consistency, and networks, that represent potential social obligations which are an asset of the firm or entrepreneur |
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Term
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Definition
| the belief that a firm is worthy of consideration or doing business with because of the impressions or opinions of customers, suppliers, investors, or competitors |
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Term
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Definition
| The Malcolm Baldrige National Quality Award is given by the US Government to businesses and nonprofit organizations that have been judged outstanding in seven measures of quality leadership; strategic planning; customer and market focus; measurement analysis, and knowledge management; human resource focus; process management; and results |
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Term
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Definition
| Stands for the International Standards Organization, and refers to certification for having met a standard of quality that is consistently evaluated around the world |
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Term
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Definition
| the entrepreneur's set of relationships and contacts with individuals and institutions |
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Term
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Definition
| the action of each person helping another |
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Term
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Definition
| interacting with others in order to build relationships useful to a business |
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Term
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Definition
| forms of business-related expertise |
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Term
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Definition
| activities common to all businesses such as sales, operations (also called production), accounting, finance, and human resources |
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Term
| industry-specific knowledge |
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Definition
| activities, knowledge, and skills specific to business in a particular industry |
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Term
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Definition
| the ability or skill of the entrepreneur at finding expendable components necessary to the operation of the business such as time, information, location, financing, raw materials, and expertise |
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Term
| determination competencies |
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Definition
| skills identified with the energy and focus needed to bring a business into existence |
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Term
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Definition
| skills necessary to identify and exploit elements of the business environment that can lead to a profitable and sustainable business |
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Term
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Definition
| the extend to which a firm meets or exceeds the standard business practices for its industry |
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Term
| standard business practice |
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Definition
| a business action that has been widely adopted within an industry or occupation |
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Term
| expert business professionalization |
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Definition
| a situation that occurs when all the major functions of a firm are conducted according to the standard business practices of its industry |
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Term
| specialized business professionalization |
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Definition
| a situation that occurs when businesses have founders or owners who are passionate about one or two of the key business functions, such as sales, operations, accounting, finance, or human resources |
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Term
| minimalized business professionalization |
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Definition
| A situation that occurs when the entrepreneur does nearly everything in the simplest way possible |
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Term
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Definition
| a lifelong series of jobs or occupations |
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Term
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Definition
| a firm in which one family owns a majority stake and is involved in the daily management of the business |
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Term
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Definition
| the kind of problem that arises when people have multiple responsibilities, such as parent and boss, and the different responsibilities make different demands on them |
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Term
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Definition
| the organizing process to help make the most efficient use of the day |
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Term
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Definition
| the process of intergenerational transfer of a business |
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Term
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Definition
| government contracting funds which are earmarked for particular kinds of firms, such as small businesses, minority-owned firms, women-owned firms, and the like |
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Term
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Definition
| an examination based acknowledgement that the firm is owned and operated as specified |
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Term
| late career entrepreneurs |
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Definition
| (also known as second career entrepreneurs) People who begin their businesses after having retired or resigned from work in corporations at age 50 or later |
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Term
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Definition
| implementation of a creative idea or opportunity leading to profitable and effective outcomes |
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Term
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Definition
| searching and capturing new ideas that lead to business opportunities. This process often involves creative thinking that leads to discovery or new and useful ideas |
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Term
| entrepreneurial alertness |
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Definition
| 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 |
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Term
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Definition
| a legal agreement granting you rights to use a particular piece of intellectual property |
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Term
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Definition
| the person or firm which is obtaining the rights to use a particular piece of intellectual property |
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Term
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Definition
| the person or organization which is offering the rights to use a particular piece of intellectual property |
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Term
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Definition
| a payment to a licensor based on the number or value of licensed items sold |
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Term
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Definition
| a process producing an idea or opportunity that is novel and useful, frequently derived from making connections among distinct ideas or opportunities |
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Term
| radical innovation strategy |
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Definition
| rejecting existing ideas, and presenting a way to do things differently |
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Term
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Definition
| an overall strategic approach in which the entrepreneur does more or less what others are already doing |
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Term
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Definition
| taking an idea and offering a way to do something slightly better than it is done presently |
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Term
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Definition
| the extent to which an idea is viable and realistic and the extent to which you are aware of internal (to your business) and external (industry, market, and regulatory environment) forces that could affect your business |
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Term
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Definition
| 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 |
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Term
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Definition
| the measure of how many visitors to your Web site (or people who click on your online advertisement) actually make a purchase from you |
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Term
| part-time self-employment |
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Definition
| working for yourself for 35 or fewer hours a week |
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Term
| full-time self-employment |
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Definition
| working for yourself for more than 35 hours a week |
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Term
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Definition
| the frequency of business starts and stops |
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Term
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Definition
| an approach to selling in which the salesperson recruits customers to become distributors of the product or service to others |
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Term
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Definition
| retail stores that sell products as a middle man in exchange for a portion of the profit |
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Term
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Definition
| a variation of consignment selling, where customers place bids on merchandise and the highest bidder wins |
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Term
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Definition
| a set of goods or services that consists of only one or a few items |
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Term
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Definition
| having just enough product on your shelves to meet the immediate purchases. This usually requires frequent shipment from your supplier |
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Term
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Definition
| information provided to the government concerning the existence of, name of, nature of, and contact information for your business |
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Term
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Definition
| documented permission from the government to run your business |
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Term
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Definition
| government specifications for acceptable use of land and buildings in particular areas |
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Term
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Definition
| the assignment of work to others over whom you have power |
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Term
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Definition
| contracting with people or companies outside your business to do work for your business |
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Term
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Definition
| using low-cost or free techniques to minimize your cost of doing business |
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Term
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Definition
| not having enough money available to the business to cover shortfalls in sales or profits |
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Term
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Definition
| ownership of a portion of a business |
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Term
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Definition
| working on your own part time after your regular job |
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Term
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Definition
| a situation in which a person faces two or more competing standards or goals |
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Term
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Definition
| taking business away from your employer |
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Term
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Definition
| creating a negative impression among your employers' customers |
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Term
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Definition
| attempting to make your business or yourself seem more accomplished or grander than reality |
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