Innovation and Entrepreneurship Flashcards

What is 'intrapreneurship'?

Answer: Entrepreneurial behavior within an established organization

Intrapreneurs behave like entrepreneurs within a larger company, innovating and taking risks to develop new products or services.

What is 'crowdfunding' as a method of raising capital?

Answer: Raising small amounts of money from a large number of people, often via the internet

Crowdfunding platforms like Kickstarter and Indiegogo allow entrepreneurs to raise capital from a large pool of small contributors.

What is the 'product-market fit' in startups?

Answer: The degree to which a product satisfies strong market demand

Product-market fit means the product meets the needs of the target market effectively, evidenced by strong customer engagement and growth.

Which of the following is an example of a B2B (business-to-business) model?

Answer: A company selling CRM software to enterprises

B2B companies sell products or services to other businesses; selling CRM software to enterprises is a classic B2B example.

What is 'scalability' in the context of a business?

Answer: The ability to increase revenue without a proportional increase in costs

A scalable business can grow revenue rapidly while keeping costs relatively flat, improving margins as it expands.

What is 'social entrepreneurship'?

Answer: Business ventures created to address social, cultural, or environmental problems

Social entrepreneurs like Muhammad Yunus (Grameen Bank) create enterprises primarily to generate social value rather than purely financial returns.