Entreprenership-7
Terms
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- Conceptual style
- a decision making style characterized by a high tolerance for ambiguity and rational way of thinking.
- Bounded rationality
- the concept that individuals have the time and cognitive ability to process only limited amounts of information as they make decisions.
- Problem avaoider
- a person who approaches problems by avoiding or ignoring information that points to a problem
- Opportunity
- an optimistic possibility or positive trend.
- Idea champion
- individuals who actively and enthusiastically pursue new ideas, build support, overcome resistance, and ensure that an innovation is implemented.
- efficiency
- the amount of resources being used to meet stated goals.
- qualitative measures
- organizational performance measures that are hard to quantify.
- innovation
- the process of taking a creative idea and turning it into a useful (marketable) product, service, or method of operation.
- Analytic style
- a decision making style characterized by a high tolerance for ambiguity and rational way of thinking.
- Uncertainty
- a decision making situation in which the decision maker is neither certain about outcomes nor able to make reasonable probability estimates.
- Satisficing
- seeking out alternatives that are satisfactory and sufficient.
- world-class organization
- an organization that is continually looking for ways, through its decisions and actions, to be the best in the world at what it does.
- change agent
- a person who's a catalyst for change and who also manages the change process.
- Problem seeker
- a person who actively seeks out problems or new opportunities.
- Certainty
- a decision making situation in which an entrepreneur can make accurate assessments of which alternative is best because every possible outcome is known.
- Behavioral Style
- a decision making style characterized by a low tolerance for ambiguity and rational way of thinking.
- Risk
- a decision making situation in which the decision maker can assess the likelihood (probability) of certain outcomes.
- internal audit
- a through assessment of the venture's internal work areas.
- Intuitive decision making
- a subconscious process of making decision on the basis of experience and accumulated judgment.
- quantitative measures
- organizational performance measures that are quantifiable
- general ledger
- a summary record of financial transactions
- organizational performance
- the organization's success at achieving its goals efficiently and effectively.
- Directive style
- a decision making style characterized by a low tolerance for ambiguity and rational way of thinking.
- Accounting Journal
- a summary record pf financial transactions.
- effectiveness
- whether an organization is meeting its stated goals.
- Customer report card
- a type of customer service audit that lists what customers are looking for, their priority for each of these attributes, and how customers score a business on these attributes.
- organizational change
- any alterations in what an organization does or how it does it.
- creativity
- the ability to combine ideas in unique way or to make unusual association between ideas.
- Problem Solver
- a person who addresses problems by trying to solve them as they come up.
- problem
- a situation in which there's an inconsistency between actual and desired results.