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Unit 1 review
study guide
Term | Definition |
---|---|
Small business | Business operated by one or few individual |
Entrepreneurship | recognizing an opportunity, testing it in the market, and gathering resources necessary to go into business |
Owner | The person that owns the business |
People | The worker that will help your business grow |
Money | determine how much you need to grow |
Customer | people you get your profit from |
Information chaos | When information get confusing and halts growth |
Planning | The strategic plans fro your business Growth; Road map to growth |
Innovation | provides resources with a new power to create wealth |
Donations | money provided for charity purposes |
Sponsorship | money provided for commercial purposes |
Risk | the amount of danger in the entrepreneurial venture |
Welfare programs | programs helping the blind, orphans, widow etc |
Advisors to respective government | participation in government activities in order to promote the well-being of the citizens |
Charitable institutions | various educational, medical and vocational training institutions |