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EOPA BLawton 2
Entrepreneurship Pathway
| Question | Answer |
|---|---|
| How does a government reduces risk for starting a business? | Allow private ownership, passes laws that enable contracts and ability to enforce in court. |
| What is a risk to a entrepreneur? | A chance that a person takes of losing time and money on a business that may not be profitable. |
| What is the advantage of entrepreneurship? | Freedom to make their own decisions, more opportunity, and possible wealth |
| What are the disadvantages? | They may risk time and money to start and manage a business |
| Stakeholders are... | customers, employees, stockholders, suppliers, dealers, bankers, media, and etc. |
| Definition of Captialism | An economic system in which all or most of the means of production and distribution are privately owned and operated for profit. |
| Definition of Invisible Hand | The economy grows abs proper through the efforts of improving their own situation in life |
| In the functions of management, what does "planning" include? | it includes the anticipating trends and determining the best strategies and tactics to achieve organizational goals |
| what is PMI? | Pluses, minuses, implications |
| What do those three things do? | Listing all the pluses for a solution, all the minuses in another, and the implications in the third column. |
Created by:
BrianaL.
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