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Buisness Concepts

Chapter 6

TermDefinition
Business plan a written description of the business idea and how it will be carried, including all major business activities.
Entrepreneur someone who takes a risk in starting a business to earn profit.
Entrepreneurship The process of starting, organizing, managing, , and assuming the responsibility for a business.
Improvement a designed change that increases the usefulness of a product, service, or process
Innovation an invention or creation that is brand new.
Long-term financing the money needed for the main resources of a business that will last for many years.
Short-term financing the money needed to pay for the current operating activities of a business.
Small business An independent business with fewer then 500 employees.
small Business Administration A government agency that helps small business owners develop business plans and obtain financing and other support for their companies.
Start up financing the amount of money needed to open business
Venture Capital money provided by large investors to finance new products and new businesses that have a good chance to be very profitable.
Created by: bmahoney2462
Popular Business sets

 

 



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