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1.04 Key Terms
External Resources
| Question | Answer |
|---|---|
| Business community | individual employed in local/area organizations |
| Business Ethics | The basic principles that govern a business's actions. |
| Business Planning | Defining your organization's goal, structure and future strategy |
| Concept Development | Involves coming up with a detailed description of an idea, explained from the perspective of your customer |
| external resources | suppliers of input that come from outside a business. |
| Government agencies | special government organization set up for a specific purpose such as the management of resources financial oversight of industries or national security issues |
| Market opportunities | a situation in which a product or service is potentially wanted or needed by consumers is identified by a business as not being supplied by rival companies |
| mentor | An experienced worked who can act as a guide to new employee's |
| Network | To connect with individuals who might help accomplish personal career and professional goals |
| prospective customer | any person or business with the potential to purchase a good or service or idea qualified lead |
| resources | Any item that is used to accomplish another activity such as producing or providing goods or service |
| risks | possibility of loss or gain |
| social media | forms of communication through social media |
| supplier | Vendors businesses from which other business buy goods or services |
| vendor | a supplier or goods usually a wholesaler or distributor |
Created by:
jhair.m327
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