6.5: Key Terms
- Page ID
- 50788
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\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)- 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