MGT 4113 Study Guide - Quiz Guide: Endangerment, Good Technology, Product Distribution
Document Summary
Environment: the sum total of forces outside of the entrepreneur and the firm: part of the brie model- things you need for your small business, b oundary, r esources. Creating a place for your business- in location and in people"s minds. The money, product, knowledge, etc. that make up the business. Bootstrapping: using low cost or free techniques to minimize your cost of doing business. Social capital: social relations - productive benefits, value of social netowrks, bonding similar people, and bridging between diverse people with norms of reciprocity, friends, colleagues, more general contacts. Legitimacy: the belief that a firm is worthy of consideration or doing business with because of the inpressions or opinions of customers, suppliers, investors, or competitors: building trust among customers and other stakeholders, people, product, organization. Social network: the entrepreneur"s set of relationships and contacts with individuals and institutions: way to work trust, reciprocity, and long term relationships into your day-to-day operations.
