A
People who purchase an existing business.
Buyers
Using low cost or free techniques to minimize your cost of doing business.
Bootstrapping
The form of entrepreneurship which takes place in existing businesses around new products, services or markets
Corporate entrepreneurship
A theory in entrepreneurial occupation theory that says as you start pursuing one line of work or opportunity (which is like going down a corridor) you will encounter other opportunities.
Corridor principle
The way that newly created goods, services or firms can hurt existing goods, services or firms.
Creative destruction
The general term for business conducted on the Internet.
E-Commerce
A person who owns or starts an organization, such as a business.
Entrepreneur
Taking products or services made in your home country and selling them in other countries.
Exporting
Nations with little manufacturing and largely farming and raw material extracting industries.
Factor-driven economy
An organization that sells or trades with others
Firm
The settings in which the entrepreneurial effort takes place.
Forms of entrepreneurship
People who create or start new businesses
Founders
A prepackaged business bought, rented, or leased from a company called a franchisor.
Franchise
The tangible things (goods) or intangible commodities (services) created for sale.
Good or services
A person who becomes an owner through inheriting or being given a stake in the family business.
Heir
A firm started with the intent of eventually going public, following the pattern of growth and operations of a big business.
High-growth venture
A firm intended to provide the owner with a high income through sales or profits superior to those of the traditional small business.
High-performing small business
Characterized by being like or copying something that already exists.
Imitative
Buying products or services from a place not your home country, and selling them in your home country.
Importing
A nation where industrialization is becoming the major force providing jobs, revenues, and taxes, and where minimizing costs while maximizing productivity (i.e., efficiency) is a major goal.
Efficiency-driven economy
Funding a business online through the collective involvement of others to provide donations, loans or investments.
Crowdfunding
Techniques often based on Internet-based services to get opinions or ideas through the collective involvement of others
Crowdsourcing
Acronym to the three focuses of entrepreneurship - corporate, social and independent.
CSI entrepreneurship
A business in which you sell items in person or online, but hold no inventory. You refer sales to a third-party who handles the shipping, and very often the financial transaction, in your name.
Drop-shipping
An approach used to create alternatives in uncertain environments.
Effectuation