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1.04 Key Terms

External Resources

TermDefinition
business community individuals employed in local/area organizations
business ethics the basic principles that govern a business's actions
business planning defining your organizations goals, structure and future strategy.
concept development involves coming up with a detailed description of an idea, explained from the perspective of a customer
external resources suppliers of inputs that come from outside a business
Government agencies special government organizations 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 worker who can act as a guide to new employees
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, service, or idea; Qualified lead
resources any item that is used to accomplish another activity, such as producing/providing goods and services
Risks the possibility of loss(failure) or gain(success)
social media forms of electronic communications through which users build communities, network, share information, etc.
supplier vendors; businesses from which other businesses buy goods and services
vendor a supplier of goods, usually a wholesaler or distributor
Created by: Izamar.r123
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