Identify Five of the Twelve Characteristics of an Entrepreneurial Environment

question 47

Essay

Identify five of the twelve characteristics of an entrepreneurial environment.
TABLE 2.3 Characteristics of an Entrepreneurial Environment
-Organization operates on frontiers of technology
-New ideas encouraged
-Trial and error encouraged
-Failures allowed
-No opportunity parameters
-Resources available and accessible
-Multidiscipline teamwork approach
-Long time horizon
-Volunteer program
-Appropriate reward system
-Sponsors and champions available
-Support of top management 
Students can choose five of the twelve from table 2.3 above.

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Definitions:

Output

The total amount of goods or services produced by a firm or economy over a specific period.

Marginal Product

The additional output that results from using one more unit of a production input, keeping all other inputs constant.

Fertilizer

A chemical or natural substance added to soil to increase its fertility and promote plant growth.

Corn

A cereal plant that yields large kernels on a cob, used as a staple food in many parts of the world and as animal feed.