• design
    (1) A complex business activity that uses design tools to meld form and function with manufacturability and marketability. (2) To devise courses of action aimed at changing existing situations into preferred ones.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • design intelligence
    A form of intelligence possessed or acquired by designers to use various forms of reasoning to create novel solutions.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • design thinking
    A proven and repeatable creative problem-solving and product development methodology that combines the needs of real people with the possibilities of technology and the necessary business success.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • design thinking process model
    A multi-stage model that represents the flow of the design thinking process.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • destructive entrepreneur
    An entrepreneur who unethically destroy rents but whose destruction may be recoverable. (See also productive entrepreneur, unproductive entrepreneur, annihilative entrepreneur.)Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • diaspora entrepreneur
    An entrepreneur who supports their home country by sending remittances, and combining local business know-how with knowledge of their home country. Diaspora (from Greek) refers to people who are scattered from their original homeland.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • differently-abled entrepreneur
    An entrepreneur with a mental or physical condition that entails unique abilities. For example, a blind entrepreneur might excel at running a sound studio.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • direct exporting
    Selling directly to customers through establishment of subsidiaries or contractual or partner relationships with foreign companies in destination countries.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • disadvantaged entrepreneur
    An entrepreneur from a background of hardship or suffering.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • disadvantaged entrepreneur
    An entrepreneur from a background of hardship or suffering.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • disclosure
    Declaration of information relevant to specific transactions that is required by law.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • discounted earnings method
    A method of determining the true value of the firm using a pricing formula that includes earning power as well as adjusted tangible book value.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • discovery-driven planning
    While conventional planning extrapolates the future from the past, discovery- driven planning can envision the unknown and uncertain future to learn as much as possible as cheaply as possible.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • displacement school of thought
    Entrepreneurial school of thought that focuses on factors that prevent (or displace) a person from doing other activities, such as a political regime or a regulatory environment that blocks free enterprise; cultural aspects that might prevent a person from choosing self- employment; or economic factors such as job loss or even full employment, and the effect these factors might have on the choice to become an entrepreneur.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • divergent thinking
    Widening perspective to explore as many ideas and solutions as one can muster in order to see a multiplicity of possible solutions.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • downcycling
    Recycling of a material into a material of lesser quality.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • drive to achieve
    A strong desire to compete, to excel against self- imposed standards and to pursue and attain challenging goals.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • due diligence
    A process undertaken by potential investors to analyse and assess the desirability, value and potential of an investment opportunity.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • durable competitive advantage
    In marketing and strategic management, an advantage that one company has relative to its competitors.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • dynamic capabilities
    The strategic capabilities that lead a business to change the what, the how and/or the why of what it does.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • early-stage financing
    Financing provided to companies that have completed the product development stage and test marketing, but require additional financing to expand commercial manufacturing and sales.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • ecological school of thought
    School of entrepreneurial thought that focuses on our perception of the natural world and our relationship to it as entrepreneurs. Based on the idea that everything is related to everything everywhere. Encompasses intergenerational equity, irreversibility of environmental change, uncertainty of long-term outcomes and sustainable development.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • econosphere
    Total capital stock; that is, the set of all objects, people, organisations and so on that are interesting from the point of view of the system of exchange.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • ecopreneur
    An entrepreneur who combines the unrelenting drive and imagination of the entrepreneur with the stewardship of a conservator.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • ecopreneurship
    The study and practice of nascent and new business owners who innovate, upcycle and offer environmentally friendly services, goods and technology.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • effectual logic
    An approach to entrepreneurial strategy, popularised by Saras Sarasvathy, that is unconstrained by either limited resources or fixed objectives.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • either/or thinking
    A way of thinking that supposes there are only two possible positions that establish clear and stark choices. Either/or thinking denies further possibilities and closes down the opportunity to perceive other alternatives.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • elevator pitch
    The brief oral presentation for selling a business plan to potential investors (named for the analogy of riding an elevator and having only two minutes to get your story across to another person in the elevator).Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • email capture
    The collection of leads to encourage consumers down the conversion funnel.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • emotional bias
    The tendency of an entrepreneur to believe their enterprise is worth a great deal more than outsiders believe it is worth.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • employee stock ownership plan (ESOP)
    Plan for passing control of the enterprise to the employees if the owner has no immediate successor in mind.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • enterprise
    The process of identifying, developing and bringing a vision to life, be it an innovative idea or simply a better way of doing something. Enterprise applies not only to business ventures, but also to political decisions and social decisions.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • enterprise
    The process of identifying, developing and bringing a vision to life, be it an innovative idea or simply a better way of doing something. Enterprise applies not only to business ventures, but also to political decisions and social decisions.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • enterprising mindset
    A mindset marked by imagination,initiative and readiness to undertake new endeavours; reflects a capability to focus on a particular opportunity and how to quickly act upon it while maintaining a broader view of the end position and how the opportunity will be shaped and fit within an enterprise or business model.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • enthusiast angel
    Angel that simply loves to be involved in deals. Typically plays no role in management and rarely seeks to be placed on a board.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneur
    (1) An innovator or developer who recognises and seizes opportunities; converts these opportunities into workable/ marketable ideas; adds value through time,effort,money or skills; assumes the risks of the competitive marketplace to implement these ideas; and realises the rewards from these efforts. (2) An individual who organises and manages labour,capital and natural resources to produce goods and services to earn a profit,but who also runs the risk of failure.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial
    Describes a person who has the mindset to spot opportunities, has a social or enterprising spirit, is willing to take calculated risks and wishes to enjoy a good outcome for themselves and the community.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial angel
    The most prevalent type of investor. Typically owns and operates one or more highly successful businesses.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial behaviour
    The actions, thoughts and deeds to initiate a new venture regardless of social, project or business form.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial capabilities
    The set of skills and abilities that support an individual in identifying an entrepreneurial/business opportunity and developing the resource base needed to pursue it.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial career
    A career that involves the work and effort required to spot opportunities and pursue new endeavours or ventures.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • Entrepreneurial characteristics
    The set of attitudes, behaviours and character traits associated with an individual who identifies opportunities and gathers the needed resources to pursue a new endeavour or venture.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial cognition
    The knowledge structures used to make assessments, judgements or decisions involving opportunity evaluation, venture creation and growth.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial economy
    A new emphasis on entrepreneurial thinking in the global economy that developed in the 1980s and 1990s and is prevalent now in the twenty-first century.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial ego
    A self-centred characteristic exhibited by entrepreneurs obsessed with the importance of themselves and their ideas.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial employee activity
    The activities undertaken by an employee that reflect entrepreneurial behaviours to initiate new-venture formation processes within the context of an existing business.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial family
    A family that provides opportunity for its family members to initiate change, and instils a desire to be innovative.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial marketing
    The proactive identification and exploitation of opportunities for acquiring and retaining profitable customers through innovative approaches to risk management, resource leveraging and value creation.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial mindset
    All the cognitive characteristics and elements that compose the entrepreneurial potential in every individual.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial motivation
    The willingness of an entrepreneur to sustain his or her entrepreneurial behaviour.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial opportunity
    An opportunity for the creation of a new venture that can attain an identified and superior competitive advantage and provide a profitable return to its investors.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • Entrepreneurial Revolution
    A global trend toward increasing associations between entrepreneurship and economic performance, including job creation, growth, firm survival, innovation and technological change, productivity increases and exports.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial successor
    A successor to a venture who is highly gifted with ingenuity, creativity and drive.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial team
    The small group of people who work together to start a new venture. Often led by an entrepreneur, they all share entrepreneurial characteristics in various combinations.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial team
    The small group of people who work together to start a new venture. Often led by an entrepreneur,they all share entrepreneurial characteristics in various combinations.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurial trait school of thought
    A micro view of entrepreneurship that seeks to identify traits common to successful entrepreneurs (e.g. achievement, creativity, determination and technical knowledge). (See also micro view of entrepreneurship.)Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • entrepreneurship
    The practice of starting new organisations, particularly new businesses; the process of innovation and new- venture creation; the commercialisation of innovation.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • environmental crime
    Illegal acts that harm the environment, such as illegal wildlife trade in endangered species, waste smuggling and dumping, and illegal fishing.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • environmental protection
    The practice by individuals, organisations and/or governments of protecting the natural environment from harm and preserving it for the benefit of current and future human generations.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • equity capital
    Funding of the business in the form of part or whole ownership of the company in order to finance start-up operations.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • equity crowdfunding
    A simplified capital-raising instrument that utilises an internet platform to source relatively small capital amounts from the public in exchange for shares (equity) in the venture. Particularly useful for start-up ventures.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • equity financing
    The sale of some ownership in a venture in order to gain capital for start-up.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • ethics
    A set of principles prescribing a behavioural code that explains what is good and right, or bad and wrong.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • exit strategy
    Method by which the initial investors in a company can liquidate their investment. The two most common exit strategies are either to take the company public by an initial public offering (IPO) or to sell the company to another firm.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • expansion financing
    Financing for a company that is viable and is reaching break-even; usually used to increase production capacity, market or product development.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • expenses
    An expired cost; any item or class of cost of (or loss from) carrying on an activity; a present or past expenditure defraying a present operating cost or representing an irrecoverable cost or loss; an item of capital expenditures written down or off; a term often used with some qualifying expression denoting function, organisation or time, such as a selling expense, factory expense or monthly expense.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • exploration method
    Method of surveying to observe and understand your users, their actions and their habits, using such techniques as re- enactments (simulating the problem), interviews, video observations, web surveys, and Facebook invites and likes.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • exporting
    Participating actively in the international arena as a seller of goods and services into foreign markets.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • external locus of control
    The perception that factors external to the self are responsible for the outcome of an event.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • external optimism
    Ceaseless optimism emanating from entrepreneurs as a key factor in the drive towards success.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • factoring
    Process of purchasing commercial accounts receivable (invoices) from a business at a discount.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • fair use doctrine
    An exception to copyright protection that allows limited use of copyrighted materials.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • fake door test
    A method of testing an idea in which you build the important bits and fake the rest, for example by creating a landing page and putting a big call-to-action button on it.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • falsifiable hypothesis
    A statement or assumption that can be proven false (invalidated) through observation.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • familiness
    Those unique resources that emerge from interactions between the family system as a whole, the individual family members and the family business.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • family and social risk
    Type of entrepreneurial risk relating to the energy and time cost of starting a new venture. Entrepreneurs who are married, and especially those with children, expose their families to the risks of an incomplete family experience and the possibility of permanent emotional scars. In addition, old friends may vanish slowly because of missed get-togethers.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • family succession
    The process of transferring the assets of a family business from one generation to the next.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • finance company
    Asset-based lender that lends money against assets such as receivables, inventory and equipment.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • financial/capital school of thought
    Refers to the need for capital and focuses on the relationship between entrepreneurs and investors, funding sources, performance of entrepreneurial investments and returns for investors and entrepreneurs, and public policy issues.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • financial ratio
    A ratio of two reported levels or flows of a company, e.g. two financial flow categories: profit/revenue or earnings/ equity.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • financial ratio
    A ratio of two reported levels or flows of a company,e.g. two financial flow categories: profit/revenue or earnings/ equity.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • financial risk
    Type of entrepreneurial risk relating to the money or resources at stake in a new venture.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • financial statement
    An accounting term for an account or formal record that shows the financial activities of a firm, person or other entity.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • five-minute reading
    A process venture capitalists use when they are reviewing a business plan for potential investment.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • fixed assets
    Land, building, equipment and other assets expected to remain with the firm for an extended period.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • fixed costs
    Part of the operating budget, costs that do not change in response to changes in activity for a given period of time, such as rent, depreciation and certain salaries. (See also variable costs, mixed costs.)Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • forcing events
    Unavoidable events that cause the replacement of the owner-manager, such as death, illness, legal problems or poor mental health.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • four Cs
    The marketing mix of co- creation, communities, customisation and choice, all of which means content is king. (See also marketing mix, four Ps, new four Cs.)Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • four Ps
    The marketing mix of product, price, promotion and place. (See also marketing mix, four Cs, new four Cs.)Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • framework of frameworks
    A synthesis of entrepreneurial frameworks that allows entrepreneurship theory to move forward in identifying the static and dynamic elements of new theories, typologies or frameworks.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • franchise
    Any arrangement in which the owner of a trademark, trade name or copyright has licensed others to use it to sell goods or services.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • franchise
    Any arrangement in which the owner of a trademark,trade name or copyright has licensed others to use it to sell goods or services.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • franchisee
    An independent business that sells or markets the products and/or services of a larger firm (the franchisor). The franchisee receives training and marketing support from the franchisor and pays a fee for ongoing support.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • franchisee
    An independent business that sells or markets the products and/or services of a larger firm (the franchisor). The franchisee receives training and marketing support from the franchisor and pays a fee for ongoing support.
  • franchising
    A form of licensing that involves selling the rights to a complete package of trademarks, processes, technologies, designs and copyrights, as they are all involved in the operation of a specific business.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • franchisor
    A company or person that grants franchises.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • franchisor
    A company which or person who grants franchises.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • free and open business model
    Making money not from the product but from data collected and user eyeballs (advertising).Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • free enterprise
    Private ownership of the means of production and enterprise management that is free and independent from state control. The allocation of productive resources is decentralised and obeys the decisions of free individuals who act guided by their own interest.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • freemium
    Strategy for pricing in which a product or service (e.g. games or web services) is offered for free, but money (premium) is charged for higher functionality and more advanced or additional features.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)