Management : Leading & Collaborating in the Competitive World: MGC1 - Principles of Management - WGU Flashcards


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created 8 years ago by ladybeffers
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vocab for assessment
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1

advertising support model

advertisers pay the site operator to gain access to the demographic group that visits the operator's site

2

affiliate model

charging fees to direct site visitors to other companies' sites

3

bootlegging

informal efforts in which employees work to create new products and processes of their own choosing and initiative

4

business incubators

protected environments for new, small business - often located in industrial parks or abandoned factories.. offer low rents and shared costs

5

business plan

a formal planning step that focuses on the entire venture and describes all the elements involved in starting it

6

entrepreneur

occurs when an enterprising individual pursues a lucrative opportunity

7

entrepreneurial orientation

the tendency of an organization to engage in activities designed to identify and capitalize successfully on opportunities to launch new ventures by entering new or established markets with new or existing goods or services

8

entrepreneurial venture

has growth and high profitability as primary objectives

9

entrepreneurship

occurs when an enterprising individual pursues a lucrative opportunity

10

franchising

an entrepreneurial alliance between two organizations, the franchisor and the franchisee

11

initial public offering (IPO)

sale to the public, for the first time, of federally registered and underwritten shares of stock in the company

12

intermediary model

brings buyers and sellers together and charging a commission for each sale

13

intrapreneur

new-venture creators working inside big companies; corporate entrepreneurs, using their company's resources to build a profitable line of business based on a fresh new idea

14

legitimacy

people's judgement of a company's acceptance, appropriateness, and desirability

15

opportunity analysis

includes a description of the good or service, an assessment of the opportunity, an assessment of the entrepreneur (you), a specification of activities and resources needed to translate your idea into a viable business, and your source(s) of capital

16

skunkworks

project teams designated to produce a new product

17

small business

often defined as having fewer than 100 employees, being independently owned and operated, not dominant in its field, and not characterized by many innovative practices.

18

social capital

a competitive advantage in the form of relationships with other people and the image other people have of you

19

subscription model

charge a monthly or annual fee for site visits or access to site content

20

transaction fee model

companies charge a fee for goods or services