G202.13.docx - 1. Intepreneuer: an entrepreneurial...

1.
Intepreneuer: an entrepreneurial individual that is employed by a firm
2.
Firms employ entrepreneurs to
a) stay/jump ahead of rival innovation
b) Improve overall efficiency and technology
c) Keep the brightest minds within the corporation
d) Incorporate more profitable projects
3.
Intrepreneurs work for firms to
a) Enhance financial risk sharing
b) Improve job security and smooth income
c) Increase access to capital investment
2.
Creative destruction and gov’t discretion
1.
Creative destruction: when entrepreneurial change makes older industries
or technologies become obsolete
a) Less officiant industries die off, and free resources that can
go to new more efficient industries
2.