Chapter 9 The Entrepreneurial Firm

a firm with fewer than 500 employees in the US or with fewer than 250 employees in the EU (other countries may have different definitions)

the identification and exploitation of previously unexplored opportunities

a founder and/or owners of new business or a manger of an existing firm, who identifies and exploits new opportunities

a combination of innovative, proactive, and risk-seeking behavior that crosses national borders and is intended to create wealth in organizations

innovative, proactive, and risk-seeking entrepreneurial behavior that endeavors to meet social goals that benefit people and the society

a firm's way of doing business and creating and capturing value

being adaptive and flexible in a creative revision process to reach entrepreneurial goals

finding short-term online or onsite service jobs (such as driving, translations, or baby-sitting)

making available to others part of one's own goods and services (such as renting out a room in one's apartment)

an investor who provides risk capital for early-stage ventures

a practice to provide micro loans (\$50-\$300) used to start small businesses with the intention of ultimately lifting the entrepreneurs out of poverty

efforts by entrepreneurial individuals and groups to find their ventures by drawing on relatively small contributions from a large number of individuals without standard financial intermediaries

a start-up company that attempts to do business abroad from inception

the sale of products made by firms in their home country to customers in other countries

a financial contract that states that the importer's bank will pay a specific sum of money to the exporter upon delivery of the merchandise... reduces transaction costs by lowering transaction costs

firm A's agreement to give firm B the rights to use A's proprietary assets for a royalty fee paid to A by B. this is typically done in service industries

the sale of products made by firms in their home country to customers in other countries

a firm that performs an important middleman function by linking domestic sellers and foreign buyers that otherwise would not have been connected

an entrepreneur who starts, grows, and sells several businesses throughout their career

A model of internationalization that portrays the slow step-by-step (stage-by-stage) process a firm must go through to internationalize its business