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14 Cards in this Set
- Front
- Back
Opportunity Recognition
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searching and capturing new ideas that lead to business opportunities. This process often involves creative thinking that leads to discovery of new and useful ideas
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Entrepreneurial Alertness
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a special set of observational and thinking skills that help entrepreneurs identify good opportunities; the ability to notice things that have been overlooked, without actually launching a formal search for opportunities, and the motivation to look for opportunities
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License
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a legal agreement granting you rights to use a particular piece of intellectual property
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Licensee
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the person or firm which is obtaining the rights to use a particular piece of intellectual property
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Licensor
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the person or organization which is offering the rights to use a particular piece of ineffectual property
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Royalty
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a payment to a licensor based on the number or value of licensed items sold
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Creativity
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a process producing an idea or opportunity that is novel and useful, frequently derived form making connections among distinct ideas or opportunities
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Radical Innovation Strategy
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rejecting existing ideas, and presenting a way to do things differently
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S.C.A.M.P.E.R.
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Substitue
Combine Adapt Magnify or modify Put to other uses Eliminate Rearrange |
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Imitative Strategy
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an overall strategic approach in which the entrepreneur does more or less what others are already doing
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Incremental Strategy
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taking an idea and offering a way to do something slightly better than it is done presently
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Feasibility
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the extent to which an idea is viable and realistic and the extent to which you are aware of internal and external forces that could affect your business
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Pilot Test
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a preliminary run of a business, sales effort, program, or web site with the goal of assessing how well the overall approach works and what problems it might have
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Conversion Rate
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the measure of how many visitors to your web site actually make a purchase from you
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