What is Bootstrapping?

Business Owner funds their own business

agreement between 2 or more parties with terms and obligations

What is Critical Thinking?

Using logical thinking to solve problems

What does Takeoff mean in the Business Life Cycle?

The company is doing well financially

Define Break-Even Point

Business Revenue matches expenses

money spent during a given period

What is compensation?

Money earned by employees for work

What is an Angel Investor?

Investors in a business for equity

A form of protection for intellectual property

What is a C Corporation?

passes its income, losses, deductions, and credits through its shareholders

What does Ideate mean in the Design Thinking process?

Challenge assumptions/create ideas

What does Success mean in the Business Life Cycle?

The business meets expenses and it making a profit

measures a business monthly cash flow

What is a Commission?

Fee paid in addition to work (Not regulary salary)

What is a Confidentiality Agreement?

signed agreement between parties to not disclose information

working with others towards a common goal

What is a Business Plan?

A document that shows how a business idea will be implemented.

What does Maturity mean in the Business Life Cycle?

The company is expanding/Owner may consider selling

What are Acquisition Costs?

Cost incurred to buy a businesses

Define Business Opportunity

Entrepreneur analyzes and evaluates to see if it is profitable.

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Principles of Entrepreneurship Vocabulary

35 termsStudBud Administration2,170 plays

Fundamental vocabulary for Principles of Entrepreneurship.

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Questions 35

Answers

1
What is Bootstrapping?
Investors fund a business
Business Owner funds their own business
Business Owner pays themselves
Investors returns
2
What is a contract?
agreement between 2 or more parties with terms and obligations
agreement stating an employment cannot be terminated
a letter of intent
an statement protecting employees and employers
3
The method of sharing a start-up business online to post-sell products is called Crowd Funding.
True
False
4
What does B2C stand for?
Business 2 Consumer
Business To Credit
Business 2 Customer
Business 2 Charter
5
What does Empathize mean in the Design Thinking Process?
Detached
Think logically
Research users needs
Troubleshoot
6
CFO stands for?
Chief Field Officer
Chief Financial Officer
CEO For Office
7
What does Define mean in the Design Thinking Process?
Define users needs and problems
Prototype
Test
State users needs and problems
8
What is Critical Thinking?
Using strictly instincts to solve a problem
Using logical thinking to solve problems
Neutral mindset
9
What does Takeoff mean in the Business Life Cycle?
The company must borrow money
The company is doing well financially
The company is underperforming
The company is falling short financially
10
Define Break-Even Point
Business Revenue matches expenses
Business sales match gross revenue
Business Expenses exceed Sales
11
Define Budget
money gained during a given period
money spent during a given period
money and expenses are equal
12
CEO stands for what?
Chief Educator Officer
Chief Engineering Officer
Chief Executive Officer
13
What does Survival mean in the Business Life Cycle?
Takeoff
Can just meet their expenses
Success
Just starting out
14
What is compensation?
A commission for extra work
A reimbursement for work
Money earned by employees for work
An incentive
15
What is an Angel Investor?
Investors in a business for equity
Grant Writer
For Profit Enterprise
Capital Firm
16
What is a Copyright?
Public Domain
A form of protection for intellectual property
A form of open source
Unregistered content that can be used by all
17
What is a C Corporation?
passes its income and deductions through its investors
passes its losses only through its shareholders
passes its income, losses, deductions, and credits through its shareholders
18
What is an Asset?
Net Loss
viable expense a business has
Net Profit
tangible item a business owns
19
What does Ideate mean in the Design Thinking process?
Challenge assumptions/create ideas
Sympathize
Prototype
Ideate
20
What does Success mean in the Business Life Cycle?
The business is downsizing
The business is just getting by
The business meets expenses and it making a profit
The business is changing management
21
What is Burnrate?
analyzes a company's quarterly expenses
measures a business monthly cash flow
measures a business annual cash flow
22
What is a Commission?
Salary
Fee paid in addition to work (Not regulary salary)
Getting paid in advance
23
What is a Confidentiality Agreement?
exclusive agreement
an agreement that indemifies themselves from wrongdoing
signed agreement allowing parties break it at anytime
signed agreement between parties to not disclose information
24
What does B2B stand for?
Business to bank
business to brokerage
A business-to-business
25
What is Brand Recognition?
Awarness of business expenses
Familiar with one's brand
Familiar with business management
Familiar with one's sales
26
What does Existence mean in the Business Life Cycle?
Business can barely pay expenses
Maturity
Takeoff
Business is just starting out
27
Define Collaboration
working with others towards a common goal
working individually to achieve a goal
company mission statement
28
What is a COO?
Chief Of Operations
Chief Operating Officer
Chief Overseer Officer
29
What is a Business Plan?
A document that shows income statements.
A document that talks solely about business structure.
A document that shows how a business idea will be implemented.
30
What does Test mean in the Design Thinking Process?
Try out solutions
Investigate the issues
Ponder the problem
Survey your target audience
31
What does Maturity mean in the Business Life Cycle?
The company is expanding/Owner may consider selling
Success
The company is stalled
The company is changing its product or services
32
What does Prototype mean in the Design Thinking Process?
Collaborate about the problem
Start To Create Solutions
Test
Analyze the issues
33
What are Acquisition Costs?
Operating Costs
Appreciation
Depreciation
Cost incurred to buy a businesses
34
Define Business Opportunity
An opportunity to write off a business
Entrepreneur analyzes and evaluates to see if it is profitable.
Entrepreneur analyzes & evaluates to see if it can replace his current job.
35
What is a Balance Sheet?
Compares Assets To Liabilities
Compares Sales and Expenses
Compares Productivity and Loss
Compares Taxes and Profit

Principles of Entrepreneurship Vocabulary Flashcards | StudBud