someone who starts up their own business and takes on all the risk and rewards

action of recognizing a business opportunity, starting a business based on the recognized opportunity, and operating and maintaining that business

Characteristics of Successful Entrepreneurs

Independent, self confident, determination and perseverance, goal-orientated, creative, strong work ethic, master networkers, up-to-date with technology, business savvy

acting in ways consistent with what society and individuals typically think are good values

quality of being honest and having strong moral principles

business owned by one person, the owner is in charge of all day to day aspects of the business

two or more people operating a business as co-owners, who share all profits. Partnerships create a legal agreement on splitting up the day to day aspects of running a business

Many owners. The owners are also known as the shareholders

is being legally responsible for something

Limited Liability Company. Owners protect their personal assests

Purpose is something other than making a profit. Usually for a good cause

is a business that was created for expanding an original business, but opening it in a new location and where you are required to sell goods and services a certain way.

- Consumers most likely already know about the original business so you don't have to market as strongly to get customers -A lot of the small details, procedures, hiring and training systems, etc. of conducting business are already figured out for you

Help

Options

focusNode

Didn't know it?
click below

Knew it?
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

Intro to buis

Term	Definition
Entrepreneur	someone who starts up their own business and takes on all the risk and rewards
Entrepreneurship	action of recognizing a business opportunity, starting a business based on the recognized opportunity, and operating and maintaining that business
Characteristics of Successful Entrepreneurs	Independent, self confident, determination and perseverance, goal-orientated, creative, strong work ethic, master networkers, up-to-date with technology, business savvy
Ethical Behavior	acting in ways consistent with what society and individuals typically think are good values
Integrity	quality of being honest and having strong moral principles
Employee	hired to work for someone else
Sole proprietorship	business owned by one person, the owner is in charge of all day to day aspects of the business
Partnership	two or more people operating a business as co-owners, who share all profits. Partnerships create a legal agreement on splitting up the day to day aspects of running a business
Corporation	Many owners. The owners are also known as the shareholders
Liability	is being legally responsible for something
LLC	Limited Liability Company. Owners protect their personal assests
Non-Profit	Purpose is something other than making a profit. Usually for a good cause
Franchise	is a business that was created for expanding an original business, but opening it in a new location and where you are required to sell goods and services a certain way.
Perks of a Franchise	- Consumers most likely already know about the original business so you don't have to market as strongly to get customers -A lot of the small details, procedures, hiring and training systems, etc. of conducting business are already figured out for you

Created by: user-1979728

"Know" box contains:
Time elapsed:
Retries: