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Entrepreneur

Individuals who have initiated the establishment of a business enterprise.

Megaentrepreneur

Entrepreneurs who generate substantial value and profits from innovations in a very short period using enormous amounts of capital and absorbing huge risks.

Microentrepreneur

Entrepreneurs in developing countries who initiate business enterprises with limited value-added and profits.

Entrepreneurial Process

The systematic approach entrepreneurs follow to achieve their goals, involving stages from opportunity awareness to business idea realization.

Discovery

The recognition of a business idea or detection of opportunities that could be profitable for the entrepreneur.

Development of Concept

Transforming the business idea into a detailed business concept, including a business plan.

Organizing Resources

Identifying, sourcing, and financing the human and nonhuman resources needed for business conduct.

Implementation

Carrying out the business plan, managing resources, and responding to external challenges.

Reaping the Returns

Strategies related to business expansion and addressing business environment conditions.

SWOT Analysis

A tool used in business analysis to leverage strengths, improve weaknesses, capitalize on opportunities, and guard against threats.

Porter’s Five Forces of Competition

A framework for analyzing competitive forces within an industry.

Cognitive Adaptability

The ability to produce multiple decision-making approaches based on environmental changes.

Creative Problem Solving (CPS)

A procedure using creativity to solve problems, employing divergent and convergent thinking.

SCAMPER

A checklist method for generating ideas by altering existing products or services.

Opportunity

A situation allowing the pursuit of a desired action, involving resource commitment and risk exposure.

Problem Inventory Analysis

A method identifying all possible problems with a product or service and generating alternative solutions.

Free Association Method

A technique that elicits ideas through associations with words given by a facilitator.

Checklist Method

A creative method for obtaining business ideas by listing potential improvements for existing products or services.

Market Awareness

Personal exposure to the market, gained through training and experience.

Entrepreneurial Readiness

The individual's resources and ability to take risks while managing uncertainties.

Rational Approach

A systematic procedure for implementing business opportunities requiring substantial investments.

Intuitive Approach

An approach based on an individual’s intuition informed by prior knowledge and experiences.