Management Quiz 4

• Entrepreneurship


  Activities associated with seeking opportunities that generate new value, with an array of unknown forces.
• Entrepreneurial skills


  The capacities, activities, and strengths that enable individuals to manage successfully in high-risk business environments.
• Start-ups 


  Newly formed organizations with limited or no operational history.
• Disruptive innovations


  Innovations that create new markets through the discovery of new categories of customers.
• Corporate entrepreneurship (or intrapreneurship) 


  The process of creating new products, ventures, processes, or renewal within large corporations.
• Entrepreneurs inside


  People who think and act entrepreneurially within different types of organizations.
• Family enterprise 


  A business owned and managed by multiple family members typically for more than one generation.
• Serial entrepreneurs 


  People who start several businesses, whether simultaneously or one after another.
• Value creation


  The activities and processes that increase the worth of a product or service.
• Pivot 


  Small failures that allow entrepreneurs to react quickly and change direction where necessary.
• Grit


  The quality that enables people to work hard and sustain interest in their long-term goals.