SOCSCI 2EN3 Chapter Notes - Chapter 1: Venture Capital
2 Oct 2018
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Document Summary
Entrepreneurial opportunity: an economically attractive and timely opportunity that creates value for buyers, distinguishes between opportunities and ideas. At any given time, many potential profitable business opportunities exist but not all opportuni- ties will be equally attractive to everyone. These opportunities must be recognized and grasped by individuals with abilities and desire strong enough to assure success. Entrepreneur: a term that can be used to describe any individual who is an active business owner, whether it is a small, medium or large sized business. Founders or nascent entrepreneurs are thought to be individuals who discover market needs and launch new firms to meet those needs. They provide an impetus for change, innovation and progress while trying to mitigate risk in pursuit of a new venture opportunity. However, the term is not limited to founders and can apply to second-generation operators of family-owned firms, franchisees, and owner-managers who have bought out the founders of existing firms.
