KEY TERMS OF MANAGEMENT FROM ENTREPRENEURSHIP TO PROGRAMMED DECISION
1. Entrepreneurship : The process of engaging in business ventures that require acquiring and organizing resources, assuming risks, and reaping rewards. - Entrepreneur: An individual who recognizes a business opportunity and acts to capitalize upon it. - Intrapreneur: An individual who seeks and acts upon opportunities within an organization. 2. Organizational planning - Goal: A future state an organization desires to achieve. - Plan: A design of the actions, resources, and personnel that will achieve a goal. - Planning: Determining actions that will achieve an organization’s goals. 3. Organizational goal setting - Mission: An organization’s purpose. - Mission statement: A broadly stated expression of an organization’s unique business scope and operations. - Strategic goals: Broad statement of the desired future position of an organization as a whole. - Strategic plans: Act