entrep-finals

Entrepreneurial Environment

External factors influencing entrepreneurship

Political Environment

Government policies and stability affecting business

Economic Environment

Market conditions like inflation and income

Social Environment

Demographics culture and lifestyle factors

Technological Environment

Availability and advancement of technology

Legal Environment

Laws and regulations affecting business

Cultural Environment

Values beliefs and traditions influencing business

Entrepreneurial Ecosystem

Network of actors and factors supporting entrepreneurship

Complex Adaptive System

System that evolves and adapts like an ecosystem

Parameter Change

Major disruption that alters the system

Bifurcation

Shift from one state to a completely different one

Internal Ecosystem

Factors within the company

External Ecosystem

Outside stakeholders affecting the firm

Entrepreneurial Actors

Individuals involved in entrepreneurship

Entrepreneurial Organizations

Firms banks and investors

Institutions

Universities government agencies and financial bodies

Entrepreneurial Processes

Startup rates innovation and growth patterns

Skilled Labor Force

Workers with abilities needed for business

Infrastructure

Facilities and systems supporting business

Market Accessibility

Ability to reach customers and suppliers

Competition

Presence of rival firms

Government Support

Policies that encourage entrepreneurship

Training Services

Programs that develop skills

Motivation

Drive to start a business

Experience

Knowledge gained from previous work

Intrapreneurship

Entrepreneurship within an organization

Intrapreneur

Employee who innovates inside a company

Risk Aversion

Tendency to avoid risk

Social Entrepreneurship

Business solving social problems

Social Entrepreneur

Person creating solutions for social issues

Social Value

Benefit to society rather than profit

Innovation

Creating new ideas products or processes

Accountability

Responsibility for outcomes

Indigenous Entrepreneurship

Business by Indigenous people

Cultural Preservation

Maintaining traditions through business

Community-Based Entrepreneurship

Business run by a community

Collective Ownership

Shared management and benefits

Community Capacity

Ability to solve collective problems

Entrepreneurial Capacity

Ability to create economic value

Family Business

Business controlled by family members

Succession Planning

Passing leadership to next generation

Kinship Ties

Relationships based on family

Sustainability

Long-term environmental and social balance

Social Capital

Networks and relationships in a community

Demand-Side Stakeholders

Customers or clients

Supply-Side Stakeholders

Providers and facilitators

Market Failure

When private sector fails to provide services

Non-Profit Sector

Organizations not driven by profit

Profit Motive

Goal of earning financial gain

Hybrid Organizations

Combine social and profit goals

Strategy

Plan to achieve long-term goals

Trade-Offs

Choosing one option over another

Exit Strategy

Plan to leave a business

Harvest Method

Another term for exit strategy

Private Sale

Selling business to an individual or group

Public Sale

Selling shares to the public

IPO

Initial Public Offering

Hold Strategy

Owner steps back but keeps ownership

Combination Strategy

Partially selling while retaining control

Strategic Acquisition

Company buys another for control

Bankruptcy

Legal process of closing due to inability to pay

Management Buyout

Managers purchase the business

Family Succession

Passing business to relatives

Profit Objective

Target earnings goal

Economic Recession

Period of economic decline

Legal Reasons

Compliance or legal issues forcing exit

Investor Retirement

Investors leaving the business

Unexpected Offers

Attractive buyout proposals

Valuation

Determining business worth

Ownership Interest

Share in a company

Securities Exchange

Market for trading shares

Day-to-Day Operations

Daily business activities

Acquisition

Buying another company

Merger

Combining two companies

Spin-Off

Creating a new independent company

Negotiation

Discussing terms and agreements

Clean Break

Leaving business completely

Debt Relief

Reduction of financial obligations

Credit Impact

Effect on ability to borrow

Succession Planning

Preparing future leaders

Replacement Planning

Another term for succession

Leadership Transition

Transfer of authority

Estate Planning

Managing assets after death

Contingency Plan

Backup plan

Business Valuation

Assessing company worth

Sustainable Entrepreneurship

Creating economic social and ecological value

Perceived Desirability

Attractiveness of starting a business

Perceived Feasibility

Belief in ability to start business

Infrastructure Development

Improvement of facilities

Market Forces

Supply and demand factors

Personal Values

Individual beliefs affecting decisions

Socio-Cultural Context

Social and cultural environment

Innovation Process

Developing new solutions

Customer Needs

Demands of consumers

Competitive Advantage

Edge over competitors

Continuous Improvement

Ongoing enhancement of products

Opportunity Recognition

Identifying business chances

Resource Management

Efficient use of resources

Value Creation

Generating benefits for stakeholders

Business Networking

Building relationships for business growth