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Lecture Notes for MGT 4064 - Developing Entrep Ventures with Pokharel at Virginia Tech (VT)

Notes Information

Material Type:Study Guide
Professor:Pokharel
Class:MGT 4064 - Developing Entrep Ventures
Subject:Management
University:Virginia Polytechnic Institute And State University
Term:Fall 2008
Keywords:
  • The Sales Concept
  • Entrepreneurs
  • Entrepreneurship
  • Competitors
  • Primary Research
  • Either...or
  • Opportunity
  • Niche Market
  • Prototype Model
  • Competitive Analysis
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Sample Document Text

Study Guide for ITE EXAM I CH1 Every entrepreneurial experience is unique, but common features to all -every venture is started by someone who recognizes an opportunity, develops a plan, and executes it -Global Entrepreneurship Monitor (GEM)-increasing interest in entrepreneurship around the globe. Roughly 14% of adults in countries sampled are involved in entrepreneurship, Most of themare very small, but economic impact of these firms is large. Most of the people starting new businessesare taking advantage of an opportunity rather than out of necessity. Motivation to start a new business is not enough. 1/3 of new firms in US fail in first 2 years, while another 20% fail in 4 years. -entrepreneur- derived from French words “entre” meaning “between”, and “prendre” meaning “to take”. Inventors and entrepreneurs are not the same. Entrepreneurship- the process by which individuals pursue opportunities w/o regard to resources they currently control. Entrepreneurial firms: proactive, innovative, and...

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