Entrepreneurship Lecture Notes

Flashcards based on entrepreneurship lecture notes focusing on creativity, idea generation, entrepreneur characteristics, the entrepreneurial process, and barriers to creativity.

Creativity is defined as __.

1- The ability to create, 2- The ability to build with a new and innovative solution.

The stages of creativity according to Albert Thimet are __.

1- Gathering information, 2- Drawing inspiration from the environment, 3- Experimentation, 4- Illumination, 5- Presentation.

In definition, an __ is the core of the desired product.

The core of the desired product.

__ is the research/ systematic investigation to find new ideas.

Research / Investigating systematically to find new ideas.

One method of creating ideas is to analyze successful companies, a process where a creative idea generator uses __ to find ideas and produce goods.

Analyzing successful companies to find ideas and produce goods through Reverse Engineering (RP).

Entrepreneurship is defined as __.

The process of value creation through the formation of a set of available resources by using opportunities.

Five characteristics of an entrepreneur are __.

1- Creative, 2- Risk-taker, 3- Optimistic, 4- Tolerates failure, 5- Good problem solver, 6- Innovative, 7- Confident, 8- Goal-oriented and persistent, 9- Responsible, 10- Committed.

The entrepreneurial process is __.

The interconnected stages that move from beginning to end.

List stages of the entrepreneurial process __.

1- Opportunity recognition, 2- Stimulation of the opportunity, 3- Evaluation, 4- Market entry, 5- Full launch and growth, 6- Maturity and development, 7- Value creation.

Market entry involves __.

Successfully passing product sales and determining if the goals were reasonable and lead to business growth.

List barriers to creativity __.

1- Unrelated/Incompatible education, 2- Using stereotypical patterns, 3- Hasty evaluation, 4- Emphasis on few assumptions, 5- Pressures of detention, 6- Short-term benefits, 7- Unwillingness to change

Social pressures are defined as __.

A range of pressures that affect us, creating the impression that we don't know and may be unknowingly introduced against our will, hindering expression of unique ideas.