History of Entrepreneurship
The pursuit of opportunity beyond resources controlled.
What is entrepreneurship?
This French-derived term means “to undertake” and refers to someone who takes the risk of starting and running a business venture.
What is “entrepreneur”?
Successful entrepreneurs embrace this, viewing it as a necessary part of innovation, and are known for learning from failure rather than being deterred by it.
What is risk-taking?
What is cash flow or runway
Social entrepreneurs often get funding from these.
The period of time that stifled invention and innovation.
What is the Medieval Period?
While small business owners tend to focus on lifestyle and stability, entrepreneurs constantly push boundaries. Name one internal or external improvement that entrepreneurs prioritize.
What are system development (internal) or growth/new product development (external)?
Entrepreneurs exhibit this quality by being flexible and adjusting their strategies in response to changing circumstances.
What is adaptability?
This type of risk is magnified when entrepreneurs fail to limit their financial exposure, often causing stress and anxiety.
what is financial risk
This type of entrepreneur works inside an organization and implements innovative ideas.
What is an Intrapreneur?
What were entrepreneurs know more as during the period from 1550 to 1800.
What is a merchant?
This concept describes entrepreneurs who innovate within established organizations, like the creators of the Post-it Note at 3M.
What is “intrapreneruship”?
Entrepreneurs often approach challenges from unique angles, demonstrating this creative ability that helps them find solutions to problems.
What is creative problem-solving?
Entrepreneurs experience this mental health challenge at rates higher than employees, often cause by emotional turbulence of starting and running a business.
What is stress and anxiety
Entrepreneurship is needed in this sector to solve problems, especially when resources are tight and demand increases.
What are public services or public goods?
Prior to the invention of money, all entrepreneurship and trade took place through this system.
What is the barter system?
A distinguishing factor between entrepreneurial ventures and small business ventures is the engagement in at least one of four behaviors. Name two of these behaviors.
What are profitability, growth, innovation, and strategic practices?
This key trait involves envisioning opportunities beyond the present and creating something transformative, often before others can see its potential.
What is visionary thinking?
According to Barbara Corcoran, successful entrepreneurs prioritize this approach over creating detailed business plans, allowing them to adopt and solve problems on the fly. what is this approach?
What is taking action or improvising
A focus on selling, strong proactivity, and ability to engage socially are benefits to the workplace.
What are behaviors of intrapreneurship?
The French word from which the concept of entrepreneur is borrowed from.
What is entreprendre?
Many entrepreneurs adopt this risk mitigation strategy, which involves investing in only what they can afford to lose to minimize potential failure.
What is “Bookending” or “Affordable Losses”?
Great entrepreneurs excel in this area, inspiring teams and motivating them to work toward shared goals, knowing that surrounding themselves with talent is key.
What is leadership?
According to Jesper Sorensen, this is a key reason many people leave their jobs to start their own businesses.
What is blocked career mobility
This economist described social entrepreneurs as people that mix creativity and new ideas, using methods from business entrepreneurs.
Who is Peter Drucker?