ENT 526 Lecture Notes - Lecture 2: Richard Branson, Grameen Bank, Scalability

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Adversity quotient ability to get back up when knocked down: makes you strive harder. Risk reward ration = higher the risk the higher the reward: riskier one has to pay more. Locus of control how you see the world. Internal locus of control is when you believe you control the world around you. Only costs about 000 to take a product to market in 2010. Entrepreneurship is about the evolution of an opportunity: is an ex post term learning from the past. Not an entrepreneur if your trying but only are when you succeed: someone who moves resources to make more use out of them, unternechmer an agent of change who exploits opportunity. Creative destruction when the new replaces the old and completely changes the whole structure of the industry. Evolutionary economics talks about how creative destruction leads to a shift from the suboptimal to the optimal.

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