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3.00 Entrepreneurshi

TermDefinition
persistent Entrepreneurs work until the job is done. They are determined to over come problems and to pursue their goals in order to make their business successful.
creative Entrepreneurs are constantly looking for new ways to solve problems.
responsible An entrepreneur is accountable for his/her actions and does what is required.
risk-takers Entrepreneurs look for challenging opportunities.
self-confident Entrepreneurs believe in themselves.
goal-oriented Entrepreneurs want to make their own decisions. They set their own schedules and are able to work without supervision.
inquisitive Entrepreneurs are curious about things that may affect their business.
communication skills Entrepreneurs need to gather information necessary to organize and run their business. Entrepreneurs must develop writing, speaking and listening skills.
human relations skills Entrepreneurs must get along with others and enjoy meeting and talking to people.
math skills Basic arithmetic and knowledge of basic record keeping are needed for the entrepreneur to make purchase decisions, calculate profit and complete financial statements.
problem-solving Entrepreneurs must make decisions and solve problems every day.
technical skills Computer skills are essential in almost every business.
basic business skills Entrepreneurs must have a basic understanding of how the economy works and of the fundamental concepts of finance, marketing, and management in order to help.
entrepreneur An individual who undertakes the risk associated with creating, organizing, and owning a business.
entrepreneurship The process of starting and operating one's own business.
business ethics Applying principles of right and wrong to situations in the workplace.
code of ethics A systematic set of rules and procedures used to guide the behavior of an individual, a business, or a culture.
innovation A new or different product.
mission statement A written description of the purpose of a company and the management's philosophy.
opportunity An idea that has commercial value.
small business Sometimes referred to as "mom and pop" businesses.
discovery The stage in which the entrepreneur generates ideas, recognizes opportunities, and determines the feasibility of ideas, markets, venture, etc.
demographics Data that describes a group of people in terms of their age, marital status, family size, ethnic background, gender, education, and income.
concept development The stage in the entrepreneurial process in which the entrepreneur plans the venture, identifies needed resources using a business plans, and identifies strategies to protect intellectual property.
resourcing The stage in which the entrepreneur identifies and acquires the financial, human, and capital resources needed for the venture startup, etc.
venture A business undertaking involving risk.
actualization The stage in which the entrepreneur operates the venture and utilizes resources to achieve its goals/objectives.
harvesting The stage in which the entrepreneur decides on a venture's future growth, development, or demise.
business plan A proposal that describes a new business.
executive summary A brief description of the key points of the business plan.
start-up resources Capital and resources needed to start a business.
capital Wealth in the form of money or property, used or accumulated in a business by a person, partnership, or corporation.
trademark Any name, symbol, figure, letter, word, or mark adopted and used by a manufacturer or merchant or order to designate his or her goods.
copyright The legal right granted to an author, composer, playwright, publisher, or distributor to exclusive publication, production, sale, or distribution of a literary, musical, dramatic, or artistic work.
patent The exclusive rights granted by a government to an inventor to manufacture, use, or sell an invention for a certain number of years willing and able to produce at different prices.
contract A legal agreement between two or more parties.
taxes Fees or dues levied on businesses by government.
Created by: jandradillon
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