Review-MIDTERM - Mid-term Review Guide REVIEW GUIDE FOR...

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Mid-term Review Guide REVIEW GUIDE FOR MIDTERM MGT450 SPRING 2010 Chapter 1 1. Define Entrepreneurship as a field of business. Identify key activities that differentiate entrepreneurs from non-entrepreneurs. 2. Describe the process perspective of entrepreneurship. List and explain the major phases of this process. What are the activities involved in each phase? 3. Explain why entrepreneurship can be viewed as arising out of the intersection of enterprising people and opportunity. Understand and explain macro, meso and micro influences on entrepreneurship. Chapter 2 1. Define an entrepreneurial opportunity and explain why such opportunities exist. Describe how technological, political/regulatory, and social/demographic changes generate entrepreneurial opportunities. Show examples of how entrepreneurial opportunities have risen out of such different types of changes. 2. List the different forms that entrepreneurial opportunities can take and explain why some forms are better for new firms than others. Understand that opportunities from one source of change can take different forms (such as new product/services, new material, new ways of organizing etc).
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