Ch 1 - Chapter 1: Introduction to Entrepreneurship CHAPTER...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 1: Introduction to Entrepreneurship CHAPTER 1 INTRODUCTION TO ENTREPRENEURSHIP Entrepreneurship - is the process by which individuals pursue opportunities without regard to resources they currently control. Inventors and entrepreneurs differ from one another. - An inventor creates something new. - An entrepreneur assembles and then integrates all the resources needed to transform the invention into a viable business . Corporate entrepreneurship - established firms with an orientation to behave entrepreneurially . Char’s of Entrepreneurial Org’s: 1. risk-taking – acceptance of calculated risks in the pursuit of market opportunities 2. autonomy – freedom of empees to take actions free from org’l constraints 3. proactive – first to market w/ new products/services 4. competitive aggressiveness – propensity to actively take actions to outperform competitors 5. innovation – creation of commercial products/services Why Become an Entrepreneur? 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Chapter 1: Introduction to Entrepreneurship (1) be their own boss, (2) pursue their own ideas, and (3) realize financial goals. Characteristics of Successful Entrepreneurs 1. Passion for the Business - the number one characteristic shared by successful entrepreneurs is passion for their business. 2.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/28/2011 for the course MNGT 305 taught by Professor Chadwick during the Spring '11 term at Nicholls State.

Page1 / 5

Ch 1 - Chapter 1: Introduction to Entrepreneurship CHAPTER...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online