Entrepreneurship at Universität Paderborn | Flashcards & Summaries

Lernmaterialien für Entrepreneurship an der Universität Paderborn

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What is the academic definition for Entrepreneurship? (Stevenson & Jarillo)

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Entrepreneurship is the process by which individuals pursue opportunities without regard to resources they currently control.

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Corporate Entrepreneurship

Explain entrepreneurial intensity

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All firms fall along a conceptual continuum that ranges from highly conservative to highly entrepreneurial. This is called entrepreneurial intensity.

  • Entrepreneurial firms: proactive, innovative, risk taking
  • Conservative firms: "Wait and see" posture, less innovative. risk averse
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Why become an Entrepreneur?

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  • desire to be own boss
  • desire to pursue own ideas
  • Financial rewards (spielt kaum eine Rolle)
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What kind of new groups of Entrepreneurs increase at the moment?

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  • Young
  • Women
  • Senior
  • Minority
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The business model emerges through a value chain. What are primary activities?

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  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
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What do entrepreneurs do?

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Entreprenerus assemble and integrate all resources needed- the money, the people, the business model, the strategy- to transform an invention or an idea into a viable business.

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What techniques exist for generating ideas?
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  • Brainstorming 
  • Focus groups 
  • Library and internet research 
  • Other techniques: customer advisory boards; day-in-the-life Research 
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What are personal characteristics of the Entrepreneur?
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Prior experience: 
  • Working in an industry may help spot a market niche
  • Builds network, social contacts
Cognitive factors:
  • Sixth sense
  • Sensitivity for ideas 
Social networks:
  • Extent and depth affects opportunity recognition 
  • Work-tie relationships 
Creativity:
  • Creative process
  • 5 stages: Preparation, Incubation, Insight, Evaluation, Elaboration

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What types of Start-Up firms exist?

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  • Salary-Substitute firms: similar income as a conventional job
  • Lifestyle firms: pursue a particular lifestyle
  • Entrepreneurial firms: bringing new products and services to the market
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What are three ways to identify an opportunity?
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1. Observing trends:
  • Economic forces (increase/ decrease of economy)
  • Social forces
  • Technological advantages
  • Political action and regulatory change
2. Solving a problem:
  • Daily problems and possible solutions
3.  Finding gaps in the marketplace:
  • Smaller markets
  • Non-existing markets

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What is an opportunity?
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An opportunity is a favourable set of circumstances that creates a need for a new product, service or business.
  • Attractive (for customers)
  • Timely (first mover advantage, does the idea already exist?)
  • Durable (could the idea be replaced?)
  • Anchored in a product, service or business that creates or adds value for its buyer or end user (use for customers)
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What are the steps of the entrepreneurial process?

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1. Step: Deciding to become an entrepreneur

2. Step: Developing successful business ideas

3. Step: Moving from an Idea to an entrepreneurial firm

4. Step: Managing and growing the entrepreneurial firm

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  • 41619 Karteikarten
  • 1416 Studierende
  • 36 Lernmaterialien

Beispielhafte Karteikarten für deinen Entrepreneurship Kurs an der Universität Paderborn - von Kommilitonen auf StudySmarter erstellt!

Q:

What is the academic definition for Entrepreneurship? (Stevenson & Jarillo)

A:

Entrepreneurship is the process by which individuals pursue opportunities without regard to resources they currently control.

Q:

Corporate Entrepreneurship

Explain entrepreneurial intensity

A:

All firms fall along a conceptual continuum that ranges from highly conservative to highly entrepreneurial. This is called entrepreneurial intensity.

  • Entrepreneurial firms: proactive, innovative, risk taking
  • Conservative firms: "Wait and see" posture, less innovative. risk averse
Q:

Why become an Entrepreneur?

A:
  • desire to be own boss
  • desire to pursue own ideas
  • Financial rewards (spielt kaum eine Rolle)
Q:

What kind of new groups of Entrepreneurs increase at the moment?

A:
  • Young
  • Women
  • Senior
  • Minority
Q:

The business model emerges through a value chain. What are primary activities?

A:
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
Mehr Karteikarten anzeigen
Q:

What do entrepreneurs do?

A:

Entreprenerus assemble and integrate all resources needed- the money, the people, the business model, the strategy- to transform an invention or an idea into a viable business.

Q:
What techniques exist for generating ideas?
A:
  • Brainstorming 
  • Focus groups 
  • Library and internet research 
  • Other techniques: customer advisory boards; day-in-the-life Research 
Q:
What are personal characteristics of the Entrepreneur?
A:
Prior experience: 
  • Working in an industry may help spot a market niche
  • Builds network, social contacts
Cognitive factors:
  • Sixth sense
  • Sensitivity for ideas 
Social networks:
  • Extent and depth affects opportunity recognition 
  • Work-tie relationships 
Creativity:
  • Creative process
  • 5 stages: Preparation, Incubation, Insight, Evaluation, Elaboration

Q:

What types of Start-Up firms exist?

A:
  • Salary-Substitute firms: similar income as a conventional job
  • Lifestyle firms: pursue a particular lifestyle
  • Entrepreneurial firms: bringing new products and services to the market
Q:
What are three ways to identify an opportunity?
A:
1. Observing trends:
  • Economic forces (increase/ decrease of economy)
  • Social forces
  • Technological advantages
  • Political action and regulatory change
2. Solving a problem:
  • Daily problems and possible solutions
3.  Finding gaps in the marketplace:
  • Smaller markets
  • Non-existing markets

Q:
What is an opportunity?
A:
An opportunity is a favourable set of circumstances that creates a need for a new product, service or business.
  • Attractive (for customers)
  • Timely (first mover advantage, does the idea already exist?)
  • Durable (could the idea be replaced?)
  • Anchored in a product, service or business that creates or adds value for its buyer or end user (use for customers)
Q:

What are the steps of the entrepreneurial process?

A:

1. Step: Deciding to become an entrepreneur

2. Step: Developing successful business ideas

3. Step: Moving from an Idea to an entrepreneurial firm

4. Step: Managing and growing the entrepreneurial firm

Entrepreneurship

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