Create an account
the process of initiating a business venture, organizing the necessary resources, and assuming the associated risks and rewards
someone who recognizes a viable idea for a business product or service and carries it out
internal locus of control
the belief by individuals that their future is within their control and that external forces have little influence
external locus of control
the belief by individuals that their future is not within their control but rather is influenced by external forces
need to achieve
a human quality linked to entrepreneurship in which people are motivated to excel and pick situations in which success is likely
tolerance for ambiguity
the psychological characteristic that allows a person to be untroubled by disorder and uncertainty
an entrepreneurial leader who is committed to both good business and changing the world for the better
a document specifying the business details prepared by an entrepreneur prior to opening a new business
financing provided by a wealthy individual who believes in the idea for a start-up and provides personal funds and advice to help the business get started
financing that consists of funds that are invested in exchange for ownership in the company
venture capital firm
a group of companies or individuals that invests money in new or expanding businesses for ownership and potential benefits
an arrangement by which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner
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