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6.5: Key Terms

  • Page ID
    50788
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    adaptive model
    method of entrepreneurial problem solving that seeks solutions in ways that are tested and known to be effective
    assessment
    lean problem-solving process phase in which the entrepreneur experiments and analyzes the potential process and its capabilities
    brainstorming
    generation of ideas in an environment free of judgment or dissension with the goal of creating solutions
    clarify
    first step of the creative process, which involves recognizing the existence of a gap between the current state and a desired state
    communication skills
    skills entrepreneurs use to pool resources for the purposes of investigating solutions leading to innovative problem solving and competitive advantage
    creativity
    development of original ideas
    critical thinking
    complex analysis of a problem or issue with the goal of solving the problem or making a decision
    crowdsourcing
    teams of amateurs and non-experts working together to form a solution to a problem
    data analysis
    process of analyzing data and modeling the data into a structure that leads to innovative conclusions
    decisiveness
    ability to make a quick, effective decision, not letting too much time go by in the process
    design thinking
    method to focus the design and development decisions of a product on the needs of the customer, typically involving an empathy-driven process to define complex problems and create solutions that address those problems
    develop
    stage in which the entrepreneur takes the list of ideas generated and tests each solution for feasibility
    entrepreneurial problem solving
    process of using innovation and creative solutions to close the opportunity gap by resolving complex societal, business, or technological problems
    evaluate
    stage in which the final solution is assessed
    evaluation
    lean problem-solving process phase in which behaviors are analyzed to assess success
    external environment
    outside the enterprise and encompasses customers, industry trends, and competition
    hackathon
    event, usually hosted by a tech company or organization, which brings together programmers and workers with other degrees of specialization within the company, community, or organization to collaborate on a project over a short period of time
    human-centered design
    focuses on people during design and development
    ideate
    stage of the creative problem-solving process leading to the detailing and formation of idea generation by the entrepreneur
    implement
    means to enact the plan and test for success
    innovative model
    method of entrepreneurial problem solving that uses techniques unknown to the market and that bring competitive advantage to an organization
    internal environment
    comprises the factors inside the enterprise, such as employees, and internal practices and processes
    lean process
    systematic process for the maximizing of continuous improvement and the minimization of surplus or unused material in the production of a process
    need awareness
    occurs when the entrepreneur notes a gap between societal or customer needs and actual circumstances
    observation
    lean problem-solving process phase in which the entrepreneur studies the challenge and notes all facets of the challenge requiring solution
    petitioner problem solvers
    problem solvers who see a problem and ask others for solution ideas
    resourcefulness
    ability to discover clever solutions to obstacles
    self-regulating problem solvers
    problem solvers who are autonomous and work on their own, without external influence; they have the ability to see a problem, immediately visualize a possible solution to the problem, and seek to devise a solution
    storyboarding
    process of presenting an idea in a step-by-step graphic format
    team creativity
    process of a team creating an unexpected solution for an issue or challenge
    theorist problem solvers
    problem solvers who see a problem and begin to consider a path toward solving the problem using a theory
    whiteboarding
    type of graphing that permits the entrepreneur to plot each step in a process to build comprehension and detailing of the process

    6.5: Key Terms is shared under a CC BY license and was authored, remixed, and/or curated by LibreTexts.

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