English Language Tests-Intermediate level''''s archiveThe entrepreneurial life cycle (1) pdf

English Language Tests-Intermediate level's archive The entrepreneurial life cycle 1 1.. Price writes that the entrepreneurial life cycle repeats itself in businesses of all sizes, from

English Language Tests-Intermediate level's archive

The entrepreneurial life cycle (1)

1 Robert W Price writes that the entrepreneurial life cycle

repeats itself in businesses of all sizes, from start-ups in a

to corporate entrepreneurship activities in global

Fortune 500 companies

garage

garden

toolbox

trailer

2 It starts with an entrepreneur who perceives an

opportunity, creates an organization to pursue it,

assembles the required resources, implements a practical

plan, and the risks and the rewards, all in a timely

manner for all involved

assumes

consumes

presumes

resumes

3 This is the significant difference that

entrepreneurial management apart from other business

management practices: in almost all cases, the person

making the decisions has personal risk at stake

draws

makes

puts

sets

4 The worst-case for folks 'at work' is getting fired;

the worst case for entrepreneurs is losing their home,

personal credit, and lifestyle, as well as the destruction of

family relationships

imbroglio

intaglio

portfolio

scenario

5 We define entrepreneurial management as the practice

of taking entrepreneurial knowledge and utilizing it for

increasing the effectiveness of new business as well

as operating small- and medium-sized businesses

instigating

invigorating

venturing

verifying

6 The heart of entrepreneurial management is continually

these vital management issues: the mission and

values statement, the goals and objectives, growth

strategy, people and resources, organizational

capabilities, financing strategy, and its vision of success

belaying

bobbling

jousting

juggling

7 These vital management issues and activities play

in what we call the entrepreneurial life cycle

about

on

out

through

8 It was once said that entrepreneurship is a lot like

driving fast on an icy road, but we prefer to think of

entrepreneurship as less and more methodical

feckless

intuitive

prohibitive

reckless

9 Entrepreneurship is a continual problem-solving

process; it is like putting together a huge puzzle; at

first pieces will seem to be missing, obscure, or not clearly

recognizable

anacrostic

crossword

jigsaw

sudoku

10 Size, profitability, commitment, complexity, scale of

organizational structure, decrease in risk, increase in

value, and decrease in involvement characterize

each stage of the entrepreneurial life cycle

builders'

creators'

founders'

progenitors'