Global Entrepreneurship

Flashcards covering key concepts and definitions from the Global Entrepreneurship lecture.

Entrepreneurship

The recognition of opportunities and the use or creation of resources to implement innovative ideas for new ventures.

Entrepreneur

A person who engages in entrepreneurship.

Intrapreneur

A person within an established business who takes direct responsibility for turning an idea into a profitable finished product through assertive risk taking and innovation.

Disruptive technology

A technology that can make prior technologies obsolete.

Low-end disruption

A disruptive technology that appears at the low end of an industry offering and does not lure customers away until it improves.

New-market disruption

A strategy that targets noncustomers rather than low-end customers, creating a new market ignored by dominant players.

Business plan

A formal statement of business goals, the reasons why they are attainable, and the plan for reaching those goals.

Bootstrapping

Exploiting a new business opportunity with limited funds, using various techniques to minimize costs.

Angel investor

An affluent individual who provides capital for a business start-up.

Venture capitalists

A person or investment firm that makes venture investments, bringing managerial and technical expertise along with capital.

Born-global firm

A business organization that seeks to derive significant competitive advantage from resources and sales in multiple countries from inception.

Global Competitiveness Index (GCI)

A system that ranks nations according to a weighted index of various assessed pillars such as institutions, infrastructure, and innovation.

Hybrid-disruption strategies

A combination of new-market and low-end disruption strategies.