1

entrepreneur

[ Choose ] the knowledge structures that people use to make assessments, judgments or decisions involving opportunity evaluation and venture creation and growth one who organizes, manages, and assumes the risks of a business or enterprise searching, idea screening, planning and financing, set-up, start-up, ongoing operations, and harvest seeks to understand how opportunities to create something new arise and are discovered or created by specific persons, who then use various means to exploit or develop them, thus producing a wide range of effects need for achievement, internal locus of control, and risk-taking propensity

entrepreneurship

[ Choose ] the knowledge structures that people use to make assessments, judgments or decisions involving opportunity evaluation and venture creation and growth one who organizes, manages, and assumes the risks of a business or enterprise searching, idea screening, planning and financing, set-up, start-up, ongoing operations, and harvest seeks to understand how opportunities to create something new arise and are discovered or created by specific persons, who then use various means to exploit or develop them, thus producing a wide range of effects need for achievement, internal locus of control, and risk-taking propensity

entrepreneurial cognitions

[ Choose ] the knowledge structures that people use to make assessments, judgments or decisions involving opportunity evaluation and venture creation and growth one who organizes, manages, and assumes the risks of a business or enterprise searching, idea screening, planning and financing, set-up, start-up, ongoing operations, and harvest seeks to understand how opportunities to create something new arise and are discovered or created by specific persons, who then use various means to exploit or develop them, thus producing a wide range of effects need for achievement, internal locus of control, and risk-taking propensity

elements of entrepreneurship

[ Choose ] the knowledge structures that people use to make assessments, judgments or decisions involving opportunity evaluation and venture creation and growth one who organizes, manages, and assumes the risks of a business or enterprise searching, idea screening, planning and financing, set-up, start-up, ongoing operations, and harvest seeks to understand how opportunities to create something new arise and are discovered or created by specific persons, who then use various means to exploit or develop them, thus producing a wide range of effects need for achievement, internal locus of control, and risk-taking propensity

characteristics of entrepreneurs

[ Choose ] the knowledge structures that people use to make assessments, judgments or decisions involving opportunity evaluation and venture creation and growth one who organizes, manages, and assumes the risks of a business or enterprise searching, idea screening, planning and financing, set-up, start-up, ongoing operations, and harvest seeks to understand how opportunities to create something new arise and are discovered or created by specific persons, who then use various means to exploit or develop them, thus producing a wide range of effects need for achievement, internal locus of control, and risk-taking propensity

2

opportunity recognition

[ Choose ] involves monitoring seven sources for innovative opportunity the active, cognitive process (or processes) through which individuals conclude that they have identified the potential to create something new that has the potential to generate economic value and that is not currently being exploited or developed, and is viewed as desirable in the society in which it occurs the unexpected, the incongruity between reality, innovation based on process need, and changes in industry or market structure scientific and circumstance demographics, changes in perception-mood-meaning, and new knowledge

systematic innovation

[ Choose ] involves monitoring seven sources for innovative opportunity the active, cognitive process (or processes) through which individuals conclude that they have identified the potential to create something new that has the potential to generate economic value and that is not currently being exploited or developed, and is viewed as desirable in the society in which it occurs the unexpected, the incongruity between reality, innovation based on process need, and changes in industry or market structure scientific and circumstance demographics, changes in perception-mood-meaning, and new knowledge

internally focused sources for innovation opportunity

[ Choose ] involves monitoring seven sources for innovative opportunity the active, cognitive process (or processes) through which individuals conclude that they have identified the potential to create something new that has the potential to generate economic value and that is not currently being exploited or developed, and is viewed as desirable in the society in which it occurs the unexpected, the incongruity between reality, innovation based on process need, and changes in industry or market structure scientific and circumstance demographics, changes in perception-mood-meaning, and new knowledge

externally focused sources for innovative opportunity

[ Choose ] involves monitoring seven sources for innovative opportunity the active, cognitive process (or processes) through which individuals conclude that they have identified the potential to create something new that has the potential to generate economic value and that is not currently being exploited or developed, and is viewed as desirable in the society in which it occurs the unexpected, the incongruity between reality, innovation based on process need, and changes in industry or market structure scientific and circumstance demographics, changes in perception-mood-meaning, and new knowledge

categories of entrepreneurial discovery

[ Choose ] involves monitoring seven sources for innovative opportunity the active, cognitive process (or processes) through which individuals conclude that they have identified the potential to create something new that has the potential to generate economic value and that is not currently being exploited or developed, and is viewed as desirable in the society in which it occurs the unexpected, the incongruity between reality, innovation based on process need, and changes in industry or market structure scientific and circumstance demographics, changes in perception-mood-meaning, and new knowledge

3

Match each of the Schumpeter's kinds of new combinations with its right definition and/or examples.

Group of answer choices

new or improved good/service

[ Choose ] Enhance availability of products by providing at lower cost Distinction between true advances and promotional differences Example: assembly line method to automobile production, robotics, agricultural processing Global context: Culture, laws, local buyer preferences, business practices, customs, communication, transportation all set up new distribution channels

new method of production

[ Choose ] Enhance availability of products by providing at lower cost Distinction between true advances and promotional differences Example: assembly line method to automobile production, robotics, agricultural processing Global context: Culture, laws, local buyer preferences, business practices, customs, communication, transportation all set up new distribution channels

opening of a new market

[ Choose ] Enhance availability of products by providing at lower cost Distinction between true advances and promotional differences Example: assembly line method to automobile production, robotics, agricultural processing Global context: Culture, laws, local buyer preferences, business practices, customs, communication, transportation all set up new distribution channels

Conquest of a new source of supply of raw materials

[ Choose ] Enhance availability of products by providing at lower cost Distinction between true advances and promotional differences Example: assembly line method to automobile production, robotics, agricultural processing Global context: Culture, laws, local buyer preferences, business practices, customs, communication, transportation all set up new distribution channels