Theorists
Said that the entrepreneur bears risks and plans and owns factors of pproduction
Richard Cantilion
these are regarded as the main drivers of entrepreneurship
ICT, Globalization,Changing Demand,Changing Demographics, Unemployment
someone who is embarking on his first venture
novice
this type of idea generation involves a controlled group interview of a target audience often led by a facilitator
focus group
this is one of the 4P's of innovation
product,paradigm,process,position
Described an entrepreneur as an innovator and someone who engaged in creative destruction
Joseph Schumpeter
Common characteristics of entrepreneurs
Innovative,m creative,Calculated risk takers, Planners
someone who llaunches, operates it, sells it then starts up another one
serial
factors that affect business ideas
changing demographics,new technologies,regullatory changes
this method of protecting one's intellectual property covers written works,, computer programs,movies
copyright
Said that the entrepreneur maximises opportunity
Peter Drucker
these factors contribute to the success of entrepreneurs
Know your business plan,have a good business plan,manage financial resources,manage people, know your strengths and weaknesses
owns several businesses at the same time, often in different industries
portfolio
resources needed to develop business concept
getting right resources,determing the necessary resources, acquiring financing
sources of innovation
the unexpected,incongruities, process,industry changes, demographic changes
said that the entrepreneur's contribution was different from that of a captial provider
Jean Baptiste Say
steps in the entrepreneurial process
idea generation, opportunity identification,develop business concept,resource acquistion,venture management, haarvesting
someone who creates a business to provide for his way of life
lifestyle
a form of harvesting a business venture where the assets of the company are sold
liquidate
a mental process that leads to ideas and solutions, theories and products that are new and novel
creativity
the most well known theorist of the 20th century
Peter Drucker
ways of harvesting a business venture
Family succession,licensing of rights, liquidate, go public
someone who created a business to ensure his continuity
survival
a form of harvesting a businesss venture that invloves the sale of shares
go public
this innovation concept sees development of product ideas in gradual steps
incremental