Review Entrepreneurship EXAM 1 Chapter 1 -5 CHAPTER 1 3.- What is entrepreneurship? Entrepreneurship is the process by which individuals pursue opportunities without regard to resources they currently control. The essence of entrepreneurial behavior is identifying opportunities and putting useful ideas into practice. Requires creativity‚ drive‚ and a willingness to take risks. How can one differentiate an entrepreneurial firm from any other type of firm? Entrepreneurial firms are
Premium Entrepreneurship Management Strategic management
Innovation: * There are two contrasting theoretical views: Schumpeter thinks more innovation is achieved by less competitive markets; Arrow thinks that more innovation is achieved by more competitive markets. Schumpeterian Theory: A distinctive特殊 view of innovation and its central role in the process of competition was developed by Schumpeter in the 1930s and 1940s and has since been developed into a substantive alternative school of thought. Schumpeterian theory suggests a simple monotonous
Premium Economics Innovation Joseph Schumpeter
Executive summary The entrepreneurship and innovation contains the strong relationship that the innovation can be captured and used by the entrepreneurs in the organisation. The innovation means the new and better product or service development‚ and the delivery that product into market successfully. If the organisation is the innovative‚ the sustainability presents high as they gain the competitive advantage in long term. To support between entrepreneurship and innovation‚ the special characteristics
Premium Entrepreneurship Innovation Management
INTRODUCTION - FINANCIAL INSTRUMENTS In today’s world of Globalization‚ we are witnessing free trade agreements between different countries‚ international exchanges are multiplying‚ and commercial barriers are falling. Hence competition is measured on global scale. In this wave of globalization‚ financial instruments have been growing at an incredible pace. We are currently witnessing a rapid expansion phenomenon of the use of the financial instruments in the international financial market. These
Premium International Financial Reporting Standards Financial markets Balance sheet
relation between organizational learning and innovation and the innovation is important as a source of competitive advantage. One of the variables of
Premium Management Strategic management Organization
Recognizing what are‚ and what are not the firm’s core competencies. • Exploiting core competencies that will create value for customers. Resources Tangible Resources Financial The firm’s borrowing capacity Ability to generate internal funds Firm’s reporting structure and formal planning ‚ controlling systems Location of a firm’s plant & equipment Access to raw materials Intangible Resources Knowledge Human Trust Managerial capabilities Organizational routines Ideas Scientific
Premium Strategic management Management
Are performance appraisals necessary for team-oriented organizations? Performance Appraisals are almost never considered sound. Everybody and anybody can complain about it‚ yet it is used in all structured organizations. The fact that more and more organizations are becoming team-oriented also means evaluation of performance is also becoming tougher by the day. In a team-oriented organization the need for evaluation of both individual and team performance arises. Performance Evaluation is the first
Premium Management Performance appraisal The A-Team
CHAPTER 2 THE EVOLUTIONARY DEVELOPMENT OF ENTREPRENEURSHIP CHAPTER OUTLINE I. The Evolution of Entrepreneurship II. The Myths of Entrepreneurship A. Entrepreneurs are doers‚ not thinkers. B. Entrepreneurs are born‚ not made. C. Entrepreneurs are always inventors. D. Entrepreneurs are academic and social misfits. E. Entrepreneurs must fit the “profile.” F. All you need is money to be an entrepreneur. G. All you need is luck to be an entrepreneur. H. Ignorance is
Premium Entrepreneurship Entrepreneur Joseph Schumpeter
NEGOTIABLE INSTRUMENTS NEGOTIABLE INSTRUMENT According to Section 13 (a) of the Act‚ “Negotiable instrument means a promissory note‚ bill of exchange or cheque payable either to order or to bearer‚ whether the word “order” or “ bearer” appear on the instrument or not.” A negotiable instrument is a document guaranteeing the payment of a specific amount of money‚ either on demand‚ or at a set time‚ with the payer named on the document. Examples of negotiable instruments include promissory
Premium Promissory note Money Cheque
people. Although difficult due to a lack of resources‚ there are non-profit organizations such as the Fate Foundation in Nigeria that are dedicated to promote entrepreneurship. Apart from the information about Nigeria that is so widespread and often negative‚ there appears to be a recognition of the critical role and place of technology in the development and advancement of the nation. In the past few years‚ there have been the startups of internet cafes‚ new Internet Service Providers‚ computers in
Premium United Nations Nigeria Policy