3.02 Entrepreneurship

The process of starting and running a business.

• Entrepreneurship
• Technical Skills
• Independent Skills

The stage in which the entrepreneur generates ideas, recognizes opportunities, and determines the feasibility of ideas, markets, ventures, etc.

• Actualization
• Discovery
• Harvesting
• Concept Development

The stage in the entrepreneurial process in which the entrepreneur plans the venture, identifies needed resources using a business plan, and identifies strategies to protect intellectual property.

• Discovery
• Harvesting
• Concept Development
• Actualization

The stage in which the entrepreneur identifies and acquires the financial, human, and capital resources needed for the venture startup, etc.

• Concept Development
• Harvesting
• Resourcing
• Actualization

The stage in which the entrepreneur operates the venture and utilizes resources to achieve its goals/objectives.

• Actualization
• Harvesting
• Resourcing
• Concept Development

The stage in which the entrepreneur decides on venture’s future growth, development, or demise.

• Concept Development
• Resourcing
• Harvesting
• Actualization

A new or different product

• Harvesting
• Innovation
• Opportunity
• Risk

An individual who undertakes the risk associated with creating, organizing, and owning a business

• Entrepreneurship
• Entrepreneur
• Venture
• Mission Statement

Applying principles of right and wrong to situations in the workplace

• Innovation
• Risk
• Business Ethics
• Opportunity

A systematic set of rules and procedures used to guide the behavior of an individual, a business, or a culture

• Innovative
• Business Ethics
• Resourcing
• Code of Ethics