[COMM 320] - Final Exam Guide - Comprehensive Notes for the exam (100 pages long!)
29 Nov 2016
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Entrepreneurship: process of pursuing opportunities without regard to the resources one controls for the purpose of exploiting a future product/service. Explanation of what entrepreneurs do: entrepreneurs assemble and then integrate all resources needed 1350, people, business model, strategy to transform an invention or an idea into a viable business. Corporate entrepreneurship: firms who emphasize entrepreneurial behaviour as: Look for ways to cut bureaucracy: innovative, proactive, risk-taking. Pull factors: on the virtue of attractiveness of being an entrepreneur. Push factors: when the conventional option of working is less attractive. Long-time ambition to own their own firm (pull) Fed up with regular day job (push) Better to start first time in order to determine if new business is really something that they like, and to grow customer list until sufficient to be profitable full-time. When an idea/opportunity is recognized, they want to see it realized. Employees in conservative firms who are left with good ideas that are left unfulfilled.
