The entrepreneurial life cycle (1)

Please choose the most appropriate answer for each sentence.
  • 1

    Robert W. Price writes that the entrepreneurial life cycle repeats itself in businesses of all sizes, from start-ups in a ..... to corporate entrepreneurship activities in global Fortune 500 companies.

  • 2

    It starts with an entrepreneur who perceives an opportunity, creates an organization to pursue it, assembles the required resources, implements a practical plan, and ..... the risks and the rewards, all in a timely manner for all involved.

  • 3

    This is the significant difference that ..... entrepreneurial management apart from other business management practices: in almost all cases, the person making the decisions has personal risk at stake.

  • 4

    The worst-case ..... for folks 'at work' is getting fired; the worst case for entrepreneurs is losing their home, personal credit, and lifestyle, as well as the destruction of family relationships.

  • 5

    We define entrepreneurial management as the practice of taking entrepreneurial knowledge and utilizing it for increasing the effectiveness of new business ..... as well as operating small- and medium-sized businesses.

  • 6

    The heart of entrepreneurial management is continually ..... these vital management issues: the mission and values statement, the goals and objectives, growth strategy, people and resources, organizational capabilities, financing strategy, and its vision of success.

  • 7

    These vital management issues and activities play ..... in what we call the entrepreneurial life cycle.

  • 8

    It was once said that entrepreneurship is a lot like driving fast on an icy road, but we prefer to think of entrepreneurship as less ..... and more methodical.

  • 9

    Entrepreneurship is a continual problem-solving process; it is like putting together a huge ..... puzzle; at first pieces will seem to be missing, obscure, or not clearly recognizable.

  • 10

    Size, profitability, commitment, complexity, scale of organizational structure, decrease in risk, increase in value, and decrease in ..... involvement characterize each stage of the entrepreneurial life cycle.

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