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Vocabulary #2Unit
| Question | Answer |
|---|---|
| Business ethics | Applying principles of right and wrong to situations in the workplace. |
| 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. |
| Entrepreneurship | The process of starting and operating one’s own business. |
| Ethical behavior | Knowing the difference between right and wrong and consciously choosing to do what is right. |
| Ethics | Guidelines for human behavior; the study of moral choices and values; choosing between right and wrong. |
| Executive summary | A brief description of the key points of the business plan. |
| Manager | An employee who coordinates people, processes, and other resources of a business in order for the business to achieve success and make a profit. |
| Mission statement | A written description of the purpose of a company and the management’s philosophy. |
| Opportunity | An idea that has commercial value. |
| Small business | Sometimes referred to as “mom and pop” businesses. Small businesses are generally started to create jobs for the owners. |
| Venture | A business undertaking involving risk. |
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