Capital budgeting is used to help the entrepreneur plan for capital expenditures.
Entrepreneurial cognition is, in part, about understanding how entrepreneurs use
simplifying mental models to make assessments, judgments, and decisions about
opportunities.
Nonfamily members sometimes bring pressure on the owner-manager in an effort to
protect their personal interests.
Entrepreneurs are fiercely independent but understand the need for a strong
entrepreneurial team.
Define strategic planning and describe the five basic steps that must be followed in
establishing a strategic plan.
Participation by subordinates in a strategic plan is never appropriate.
When an entrepreneurial environment is created, a company does not usually set aside
the traditions of the company.