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Vocab from Week 2

QuestionAnswer
Applying principles of right and wrong to situations in the workplace Business ethics
A proposal that describes a new business Business plan
A systematic set of rules and procedures used to guide the behavior of an individual, a business, or a culture. Code of ethics
An individual who undertakes the risk associated with creating, organizing, and owning a business Entrepreneur
The process of starting and operating one’s own business. Entrepreneurship
Knowing the difference between right and wrong and consciously choosing to do what is right Ethical behavior
Guidelines for human behavior; the study of moral choices and values; choosing between right and wrong. Ethics
A brief description of the key points of the business plan Executive summary
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
A written description of the purpose of a company and the management’s philosophy. Mission statement
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
Created by: Tasha P