MGMT 321 Chapter 7 Questions And Answers AGraded

entrepreneurship - the pursuit of lucrative opportunities by enterprising individuals small business - a business having fewer than 100 employees, independently owned and operated, not dominant in its field, and not characterized by many innovative practices entrepreneurial venture - a new business having growth and high profitability as primary objectives entrepreneur - individual who establishes a new organization without the benefit of corporate sponsorship intrapreneurs - new venture creators working inside big companies franchising - an entrepreneurial alliance between a franchisor and a franchisee franchisor - an innovator who has created at least one successful store and wants to grow franchisee - a partner who manages a new store of the same type in a new location transaction fee model - charging fees for goods and services advertising support model - charging fees to advertise on a site intermediary model - charging fees to bring buyers and sellers together affiliate model - charging fees to direct site visitors to other companies' sites subscription model - charging fees for site visits social entrepreneurship - leveraging resources to address social problems social enterprise - organization that engages in social entrepreneurship