Entrepreneurship Basics
This economist defined entrepreneurs as ‘those who get things done'
Who is Richard Cantillon?
This comes before innovation and may not be commercialized
What is invention?
This concept describes how new technologies replace old ones
What is creative destruction?
This type of entrepreneurship focuses on solving social problems
What is social entrepreneurship?
This is the strongest form of IP protection
What is a patent?
In capitalism, entrepreneurs decide what to produce, how much, and this
What is the method of production?
This myth says innovation comes from a lone genius
What is the Lone Genius myth?
AI can improve efficiency by automating these types of tasks
What are routine tasks?
This type of entrepreneurship is connected with government services
What is public entrepreneurship?
This protects brand names and logos
What is a trademark?
This system allows individuals to make economic decisions and own businesses
What is capitalism?
Innovation is best described as bringing a product to this stage
What is commercialization?
AI may negatively impact jobs by doing this
What is replacing human workers?
This type of entrepreneurship occurs within large companies
What is corporate entrepreneurship?
Disney uses this to protect creative works
What is copyright?
Strong ties include this type of relationships like family and close friends
What are strong social ties?
Innovation often happens at the intersection of these
What are diverse fields?
Entrepreneurs must invest in AI to stay this in the market
What is competitive?
This type of entrepreneurship focuses on profit and private markets
What is private entrepreneurship?
This protects confidential business information
What is a trade secret?
This type of thinking combines different ideas to create new opportunities
What is associative or bisociative thinking?
This common mistake prevents graduates from innovating due to fear
What is fear of failure?
This set of skills, including critical thinking, creativity, and communication, is increasingly important in an AI-driven workforce
What are soft skills?
This component of social entrepreneurship focuses on generating revenue and solving market problems
What is the economic aspect?
This type of patent is most common in tech (e.g., Siri)
What is a utility patent?