MGMT 5300 Exam 1 Notes

Define entrepreneur

Number of new businesses created each year in the economy

Ratio of new businesses that fail

Top 3 reasons a business fails

Four types of entrepreneurs

Define the 4 types of entrepreneurs

Entrepreneurial Traits

The Spider Web Model

Near Neighbor Networks

Scale-Free Networks

Inter-Network

5 stages of getting started

Disruptive Innovation

Incremental Innovation

Models for Innovation

4 Sources for Business Ideas

Market Issues Opportunity Evaluation

Financial and Harvesting Opportunity Evaluation

Competitive Advantage Opportunity Evaluation

Management and Risks Opportunity Evaluation

4 Barriers to Market Entry

5 phases of success