Innovation
This is the term for someone who assembles resources and takes risks in pursuit of growth.
What is an entrepreneur?
One of the main reasons businesses fail.
What is “the math just doesn’t work”?
This document acts as a “road map” for the venture and compares actual and target results.
What is a business plan?
Managers accomplish goals through planning, organizing, leading, and this final function.
What is controlling?
This type of communication ensures the receiver interprets the message as the sender intended.
What is two-way communication?
Entrepreneurs excel at this skill that involves bringing people and resources together efficiently.
What is organizing?
This failure factor involves owners whose behavior prevents their own business from succeeding.
What is “owners who can’t get out of their own way”?
This investigative process screens out ideas that lack viability before resources are committed.
What is a feasibility analysis?
This managerial skill involves communication and working effectively with people.
What are human relations skills?
These short-term, specific statements outline how to achieve organizational goals and often include numeric targets.
What are objectives?
This “tool of entrepreneurs” involves making meaningful contributions through new or different value.
What is innovation?
Only 1 out of this many product ideas typically becomes successful.
What is 3,000?
These early-stage investors, often wealthy individuals, provide equity financing to startups.
Who are angel investors?
This leadership style allows employees freedom to make decisions as long as they meet objectives.
What is free-rein leadership?
This analysis framework examines strengths, weaknesses, opportunities, and threats.
What is SWOT analysis?
Name one major trend influencing modern entrepreneurship, such as changes in lifestyles or technology.
What is: e-commerce growth, independent lifestyles, service economy shift, entrepreneurial education?
A company lacking this financial buffer is at risk of failing due to unexpected expenses.
What is a cash cushion?
Selling company stock to the public for the first time is known by this term.
What is an Initial Public Offering (IPO)?
This executive is responsible for obtaining funds and managing the company’s budgets.
Who is the Chief Financial Officer (CFO)?
This management role introduces change into an organization and sets its overall direction.
Who is the CEO?
Entrepreneurs often view this major force—something most people avoid—as an opportunity when it leads to unmet needs.
What is change?
Operational mediocrity, out-of-control growth, and dysfunctional management all fall under this broader kind of business issue.
What are internal operational/managerial problems?
This form of financing asks large groups of people—typically online—to contribute money toward a business idea.
What is crowdfunding?
This planning type determines major organizational goals and resource strategies.
What is strategic planning?
This planning type focuses on detailed, short-term actions—who does what, when, and how.
What is tactical planning?