What is an entrepreneur?

A person that organizes and manages an enterprise

Rival businesses taking service away from your business

What are competitive advantages?

What sets an organization apart; its competitive edge

How should entrepreneurs think?

Be cognitively adaptable, Effectively, Learn from failure

What are sources of new ideas?

Consumers, Distribution Channels, Existing products/services, Internal mindset

What is the Break-Even Point?

When a business makes minimum sales to cover expenses

An exclusive/legal right given to an inventor to exploit

What are negative attributions to a business?

Not interpreting customer needs/wants, Not thinking about customers above all

What are positive characteristics of a business?

Satisfy customers, Expertise through participation, Less competition, Secured suppliers and distributers

A potential group of customers/investors paying for product

What is a key to an innovating trend?

Implementing a product which will have a long lasting impact

A share of ownership in a corporation

What are resources in terms of a business?

Money, Trade tactics, Workers, Investments

The rules/principals that define right/wrong actions

Why do businesses fail?

No customer need was established, Unreasonable goals, Insufficient funding, Lack of experience in the planned business

What are demographics?

The vital statistics of a population

What is Globalization?

The linkage of economies/cultures that fosters a business

What is Entrepreneurship?

The process of getting into and operating one's own business

The end result which an entrepreneur envisions to become

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Entrepreneurship

20 termsStudBud Administration32 plays

Enterpenuership for Deca

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Questions 20

Answers

1
What is an entrepreneur?
A person that organizes and manages an enterprise
An individual who is involved in community service
A business with innovative ideas
Someone who owns a building in a city
2
What is competition?
Rival businesses taking service away from your business
A global trade unit benefiting your business
Businesses in the same field trying to aide your progress
Employees leaving on their lunch break early
3
What are competitive advantages?
What sets an organization apart; its competitive edge
A situation in adherence to the local community
The loss of money due to theft in a company
A definite problem when it comes to deciphering problems
4
How should entrepreneurs think?
Be cognitively adaptable
Effectively
Learn from failure
Close mindedly
5
What are sources of new ideas?
Consumers
Distribution Channels
Existing products/services
Internal mindset
6
What is the Break-Even Point?
The point in which entrepreneurs break and lose their wealth
A sufficient balance of product to customer ratio
The start time when a market first begins selling an item
When a business makes minimum sales to cover expenses
7
What is a patent?
An exclusive/legal right given to an inventor to exploit
Document signed by all employees prior to working
The legal form provided to an individual proving citizenship
A document claiming legal protection from being sued
8
Why is it risky to start "NEW"?
Cost of learning
All the above
Role conflict
Failure to have prior expirience
9
What are negative attributions to a business?
Being able to cope with co-workers
Understanding of healthy customer-entrepreneur relations
Not interpreting customer needs/wants
Not thinking about customers above all
10
What are positive characteristics of a business?
Satisfy customers
Expertise through participation
Less competition
Secured suppliers and distributers
11
What is a market?
An office building filled with enterprises
A range from 1-10 on how valued customers are
A board entrepreneurs put their ideas on during stage 1
A potential group of customers/investors paying for product
12
What is a key to an innovating trend?
Implementing a product which will have a long lasting impact
Creating a product which serves similar purpose to one prior
Creating a product for the minority of customer ratio
Creating a product on the basis of ones own needs
13
What is stock?
Taxes business holders must pay on a monthly basis
A group of employees who belong to a union
Investments made in sponsoring a foundation
A share of ownership in a corporation
14
What are resources in terms of a business?
Money
Trade tactics
Workers
Investments
15
What are ethics?
The rules/principals that define right/wrong actions
The location of a market for max profit
The amount of wealth a certain business owns
The skin color of your employees
16
Why do businesses fail?
No customer need was established
Unreasonable goals
Insufficient funding
Lack of experience in the planned business
17
What are demographics?
How many employees have a significant partner and family
The struggle between various competitive businesses
The vital statistics of a population
The frequency of how many vacation days employees take
18
What is Globalization?
An Ap Human Geography term I have not memorized yet/forgot
The ratio of foreign customers to native customers
The linkage of economies/cultures that fosters a business
An internal bond between two employees
19
What is Entrepreneurship?
Someone who initiates and actively seek to begin a business
The process of getting into and operating one's own business
A legal agreement to begin a new branch location
A systematic and structured threat that can harm a business
20
What is a vision?
The french word translating to deja vu
The last market an owner witnesses before failure
The technique used so a business owner knows who to fire
The end result which an entrepreneur envisions to become

Entrepreneurship Flashcards | StudBud