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EBME Obj. 2
EBME Obj. 2 - Entrepreneurs and Entrepreneurship
Term | Definition |
---|---|
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. Small businesses are generally started to create jobs for the owners |