ENTR 2P91 Study Guide - Midterm Guide: Psychographic, Target Market, Business Plan
4 Apr 2016
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Document Summary
Process by which individuals pursue opportuniies without regard to resources they currently control. Venture capital deiniion: the art of turning an idea into business. Entrepreneurs assemble and then integrate all the resources needed (money, people, business model, strategy) to transform an invenion or an idea into a viable business. All irms fall along a conceptual coninuum that ranges from highly conservaive to highly entrepreneurial. Passion for business o o o o o. Willingness to work hard for an extended period of ime. Good products with the capability to saisfy customers. Diligence to spot product opportuniies and see them through to compleion. Ability to fashion an idea into a viable business. Ability to translate thought, creaivity, and imaginaion into acion and measurable results. Strong entrepreneur: experience, maturity, solid reputaion, track record for success. Small irms that yield a level of income for the owners that is similar to what they would earn when working for an employer.
