Discuss Three Major Ways in Which Managerial and Entrepreneurial Decision

question 23

Not Answered

Discuss three major ways in which managerial and entrepreneurial decision making differs.
Eight areas of difference students can choose from:
1.strategic orientation
2.commitment to opportunity
3.commitment of resources
4.control of resources
5.management structure
6.reward philosophy
7.growth orientation
8.entrepreneurial culture
Basic differences in each dimension:
Source:This table is taken from T.Brown,P.Davidsson,and J.Wiklund,"An Operationalization of Stevenson's Conceptualization of Entrepreneurship as Opportunity-Based Firm Behavior," Strategic Management Journal 22 (2001).

---

Definitions:

Fiscal Year

An accounting period that is one year in length.

Raw Materials

Basic materials used in the production process to make goods and products, typically unprocessed or minimally processed.

Finished Product

A final good ready for sale after undergoing all stages of production.

Required Production

The quantity of goods or services that a company needs to produce within a specific timeframe to meet the demands of its customers.