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Entrepreneurship 1

obj 2.04 determine feasibility of the venture ideas

TermDefinition
Acquisition The process of taking possession of something
Articulate To clearly Express
Bias An inclination to have a certain perspective in favor of or against a person, group of people, or thing; prejudice
Business Plan A company blueprint for success; shows how the business works now and how it is intended to work in the future; the written business model
Chain of command the flow of authority within an organization; also know as line of command
Demographics The physical and social characteristics of the population
Feasibility study An organized inquiry into the possible success of a business idea or venture
Fixed cost Business cost that are not affected by change in sales volume; materials, technology, etc.
Logistics The coordination of how a venture will come to life (workplace, materials, technology)
Market Analysis A systematic study of specific Market
Merger Two individual business that combine to form one organization
Operating expenses All of the expenses involved in running a business that are not directly related to production
Organizational chart A graphical respentation of the flow of authority within an organization
Production Cost Expenses directly associated with the creation of products ( Raw Materials )
Profitability analysis A financial breakdown that allows owners/ managers to determine when a business venture will break even or start turning a profit
Revenue Income
Startup cost all of the expenses involved in setting up a new business or introducing a new product to the market
Unfeasible Difficult, impractical, or impossible
Variable Cost Business cost that change according to changes in sales volume; also known as variable expenses
Created by: user-1967703
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