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Biz Innovator unit 3
Opportunity Recognition and Intellectual Property
| Question | Answer |
|---|---|
| Management | Those in charge of running a business |
| Business | The activity of providing goods and services involving financial and commercial and industrial aspects |
| Profit | The commercial processes involved in promoting and selling and distributing a product or service |
| Telecommuting | The amount of money left over after expenses are taken out |
| Downsizing | Involves working at home usually on a computer |
| Outsourcing | Contracting out selected functions or activities of an organization to other organizations that can do the work more cost efficiently |
| Research and Development | Research and Development: Business or government activity that is purposely designed to stimulate invention and innovation |
| Marketing | The commercial processes involved in promoting and selling and distributing a product or service |
| Market | The world of commercial activity where goods and services are bought and sold |
| Bonus | Additional payment to employees as a means of increasing output |
| Personnel | Staff, employees, work force |
| Quarter | One of four equal parts into which anything is or may be divided. |
| Promotion | Act of raising in rank or position. |
| Asset | Anything we value that is owned |
| Recruitment | Finding new people to join an organization |
| Sales Department | The division of a business that is responsible for selling products or services |
| Liability | An amount owed by a business |
| Presentation | A show or display |
| Meeting | A formally arranged gathering |
| End User | The person or group who will use the product produced by the project |
| Party | A person involved in legal procedings |
| Objective | The goal intended to be achieved |
| Entrepreneur | A person who organizes, manages, and takes on the risks of a business |
| Contract | A binding agreement between two or more persons that is enforceable by law |
| Commercial | A commercially sponsored ad on radio or television |
| Venture Capital | Money that is invested in new or emerging companies that are perceived as having great profit potential |
| Investment | Putting money into something in order to make a profit |
| Credit | Arrangement for deferred payment for goods and services |
| Opportunity Cost | Cost in terms of foregone alternatives |
| Logistics | The process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumption |
Created by:
DPStewart
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