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Entrepreneurial Orientation
Entrepreneurial orientation (EO) is a firm-level strategic orientation which captures an organization's strategy-making practices, managerial philosophies, and firm behaviors that are entrepreneurial in nature. Entrepreneurial orientation has become one of the most established and researched constructs in the entrepreneurship literature. A general commonality among past conceptualizations of EO is the inclusion of innovativeness, proactiveness, and risk-taking In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environme ... as core defining aspects or dimensions of the orientation. EO has been shown to be a strong predictor of firm performance with a meta-analysis of past research indicating a correlation in magnitude roughly equivalent to the prescription of taking sleeping pills and getting bet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Management
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.qn, date=June 2018 Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning. Michael Porter identifies three principles underlying strategy: * creating a " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organization
An organization or organisation (English in the Commonwealth of Nations, Commonwealth English; American and British English spelling differences#-ise, -ize (-isation, -ization), see spelling differences), is an legal entity, entity—such as a company, an institution, or an Voluntary association, association—comprising one or more person, people and having a particular purpose. The word is derived from the Greek word ''organon'', which means tool or instrument, musical instrument, and Organ (anatomy), organ. Types There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charitable organization, charities, not-for-profit corporations, partnerships, cooperatives, and Types of educational institutions, educational institutions, etc. A hybrid organization is a body that operates in both the public sector and the private sector simultaneously, fu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Innovation
Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies. Innovation often takes place through the development of more-effective products, processes, services, technologies, art works or business models that innovators make available to markets, governments and society. Innovation is related to, but not the same as, invention: innovation is more apt to involve the practical implementation of an invention (i.e. new / improved ability) to make a meaningful impact in a market or society, and not all innovations require a new invention. Technical innovation often manifests itself via the engineering process when the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Proactivity
Proactivity or proactive behavior refers to self-initiated behavior that endeavours to solve a problem before it has occurred. Proactive behavior involves acting in advance of a future situation, rather than reacting. It refers to taking control of a situation and making early changes, rather than adjusting to a situation or waiting for something to happen. Reactivity, as a behaviour pattern, is a habitual mode of taking one's lead from the situation or a participant, rather than taking initiative to solve the problem on your own terms. In moderation, this can be an effective expression of social risk aversion. Taken to excess, reactivity is a form of disempowerment. History The use of the word ''proactive'' (or ''pro-active'') was limited to the domain of experimental psychology in the 1930s, and used with a different meaning. ''Oxford English Dictionary'' (OED) credits Paul Whiteley and Gerald Blankfort, citing their 1933 paper discussing proactive inhibition as the "impair ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk-taking
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is “effect of uncertainty on objectives”. The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas ( business, economics, environment, finance, information technology, health, insurance, safety, security etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and generic guidelines on managing risks faced by organizations. Definition ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Danny Miller (economist)
Danny Miller (born 1947) is a Canadian economist and Strategy Professor (Rogers-J.A.-Bombardier Chair of Entrepreneurship) at HEC Montréal. He also teaches at the Chair in Family Enterprise and Strategy at the University of Alberta.Danny Miller, Isabelle Le Breton-Miller: ''Managing for the long run: lessons in competitive advantage from great family businesses.'' Harvard Business School Publishing, Boston, Massachusetts, 2005 According to a statement by HEC, Miller is the fifth-most cited management researcher in the world.Press Release HEC Besides teaching, Miller works as a strategy consultant for companies. According to his resume, [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Return On Investment
Return on investment (ROI) or return on costs (ROC) is a ratio between net income (over a period) and investment (costs resulting from an investment of some resources at a point in time). A high ROI means the investment's gains compare favourably to its cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments.Return On Investment – ROI , Investopedia as accessed 8 January 2013 In economic terms, it is one way of relating profits to capital invested. Purpose In business, the pur ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Terms
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being subject to corporate tax rates. A corporation is more complicat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Entrepreneurship
Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones. An entrepreneur is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards.The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, which is often similar to a small business, or as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit." The people who create these businesses are often referred to as entrepreneurs. While d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
