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Unit 02
Question | Answer |
---|---|
Applying principles of right and wrong to situations in the workplace. | Business ethics |
Business plan | A proposal that describes a new business. |
Code of ethics | A systematic set of rules and procedures used to guide the behavior of an individual, a business, or a culture |
Entrepreneur | An individual who undertakes the risk associated with creating, organizing, and owning a business. |
The process of starting and operating one’s own business | Entrepreneurship |
Ethical behavior | Knowing the difference between right and wrong and consciously choosing to do what is right. |
Guidelines for human behavior; the study of moral choices and values; choosing between right and wrong. | Ethics |
Executive summary | A brief description of the key points of the business plan |
An employee who coordinates people, processes, and other resources of a business in order for the business to achieve success and make a profit | Manager |
Mission statement | A written description of the purpose of a company and the management’s philosophy. |
An idea that has commercial value | Opportunity |
Sometimes referred to as “mom and pop” businesses. Small businesses are generally started to create jobs for the owners. | Small business |
A business undertaking involving risk. | Venture |