Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Biz innovator unit 3
Opportunity recognition intellectual property
| Term | Definition |
|---|---|
| Asset | Anything of value that is owned |
| Synthesis | Synthesis is the process of building information up |
| Extension | An extension strategy is a practice used to increase the market share for a given product or service to keep it growing |
| Invention | Making new items or finding a way to make a new idea |
| Duplication | Growth by duplication is taking your present business and duplicating it in other locations, like a franchise |
| Management | Those in charge of running a business |
| Profit | The amount of money left over after expenses are taken out |
| Business | The activity of providing goods and services involving financial and commercial and industrial aspects |
| Marketing | The commercial processes involved in promoting and selling and distributing a product or service |
| Venture Capital | Money that is invested in new or emerging companies that are perceived as having great profit potential |
| Networking | Using contacts with friends and family members as a means of finding job leads |
| Partnership | A contract between two or more persons who agree to pool talent and money and share profits or losses |
| Analysis | The process of breaking information down |
| Business plan | A written description of the business idea and how it will be carried out, including all major business activities. |
| Entrepreneur | A person who organizes, manages, and takes on the risks of a business |
| Grant | A sum of money or other payment given for a particular purpose |
| Margin | The net sales minus the cost of goods and services sold |
| Outsourcing | Contracting out selected functions or activities of an organization to other organizations that can do the work more cost efficiently |
| R and D | Research and Development: Business or government activity that is purposely designed to stimulate invention and innovation |
| Scalable | The property of a network that allows you to add nodes or increase its size easily |
| Startup | A new venture that is trying to discover a profitable business model for future success |
| Branding | Used to create an identity for your product or service and differentiate it from your competition |
| Marketing collateral | The materials used to describe your product or service. Ex : brochures, newsletters, postcards, flyers, and press releases |
| Direct marketing | A method used when your customer has direct access to your product or service. There is no middleman in direct marketing |
| Commission | The money paid to a person who sells your product or service to a customer. Set amount of money per unit sold or a percentage of the sale |
| Expense | Money spent on supplies, equipment or other investments |
| Target market | A specific group of customers at which a company aims its products and services |
| Fixed cost | A one-time expense that doesn’t vary with business volume |
| Working capital | The cash available to an enterprise for day-to-day operations |
| Trademark | The name of a product or service that has been legally registered as the property of an enterprise |
Created by:
crschaffrin
Popular Business sets