Across
- 1. A strategic analysis framework covering Political, Economic, Social, Technological, Legal, and Environmental factors.
- 2. The entrepreneurial characteristic that determines whether a business will succeed or fail by turning a solid idea into a viable business is ....... intelligence
- 4. The type of plan that is short-range, designed to implement the activities specified in the strategic plan, and covers one year or less.
- 8. A widely used idea-generation technique in which participants rapidly propose as many ideas as possible without immediate criticism or evaluation
- 9. The 'eureka' stage of the creative process, during which a novel idea suddenly becomes clear.
- 10. The process of dividing a market into distinct groups of customers by geography, demographics, psychographics, or behaviour.
- 11. The economic system characterised by private ownership, where competition, supply, and demand govern production and distribution.
- 13. A competitive environment where only one business provides a product in a given market, such as a utility company
- 15. The cognitive ability to notice opportunities without engaging in deliberate search, central to entrepreneurial cognition
- 16. The type of market segmentation that groups customers by personality, lifestyle, and values rather than age or location
- 18. The long-term aspirational statement that paints a picture of what an organisation hopes to become; timeless and enduring.
- 19. The 'mulling things over' phase in the five-stage creativity process, which follows Preparation
Down
- 1. The strategy of establishing a unique place in customers' minds by drawing attention to two or three key product attributes that differentiate a firm from its rivals
- 3. The point at which the quantity of goods supplied by businesses exactly matches the quantity demanded by consumers at a given price.
- 5. Schumpeter's term for the process by which entrepreneurship replaces inferior offerings across markets and industries is ......... destruction
- 6. Irish economist credited with first introducing the term 'entrepreneur' into economic literature
- 7. The French word from which 'entrepreneur' is derived, meaning 'to undertake'
- 12. The statement that defines a company's fundamental purpose and reason for existence, answering 'What do we do and for whom?
- 14. A market structure with very few businesses, where each controls a large portion of supply and price changes by one firm trigger responses from others.
- 17. Israel Kirzner described entrepreneurship as the identification of this type of market opportunity