21904949
Description
Flashcards by Maria Soto, updated more than 1 year ago
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Created by Maria Soto
over 4 years ago
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| Question | Answer |
| what is entrpreneurhip? | the process of running a business of one's own people. |
| What do entrepreneurs try to identify? | Unmet needs in the marketplace and providing a product/service to meet those needs. |
| How are entrepreneurs different from employees? | They assume risks and they don't work for others. |
| WHat are some reasons for which people become entrepreneurs? | Leave corporate environment, set personal schedules, etc... |
| Ethical? Integrity? | Ethical: Having principles Integrity: Honesy |
| Types of Entrepreneurial businesses? | Manufactoring: Production of products for use or sale using labor and machines Wholesailing: Sells products to companies that plan to resell them. Retailing: buys products from a supplier and resells them for a profit Service: |
| What is Green Entrepreneurship? | Move forward environmentally friendly products to benefit earth or conserve (ex: recycle) |
| Factors of the rise of entrepreneurs: | Corporate layoffs, technology, and economic slowdown. |
| Small Business Administration | For guidance, loans, lean financing. They take more risk since they have less to lose and can make changes more quick. |
| Reasons why businesses fail: | Poor education in accounting, law, negotiations, and running operations, no motivation/ reasons for starting. |
| Characteristics of successful entrepreneurs: | Independence, self-confident, determination, perseverance, goal-oriented, creativeness, ability to act quickly, and keeping up to date with technology. |
| Characteristics of good team members: | Commitment, communication, cooperation, and creativity |
| Colateral def: | To put something up (ex: putting up a house before getting money) |
| What is something you need to do to see if entrepreneurship is right for you? | A self-assesment and your aptitude. |
| Aptitude def: | Ability to do a certain job. |
| How does integrity and ethical behavior apply to a small business? | When operating with integrity, entrepreneurs behave consistently in actions, values, methods, principles, expectations, and outcomes. Ethical behavior ensure that the highest standards of conduct are observed in their relationships with everyone affected by the businesses' activities |
| Why is entrepeneurship important to U.S economy? | Small businesses contribute billions of dollars to the U.S. economy yearly and generate more jobs driving economy growth. |
| Opportunities: | Possibilities from existing conditions |
| Ideas: | Thoughts or concepts that come from creative things. |
| S.M.A.R.T. Goals: | Specific Measurable Attainable Realistic Timely |
| Financial Goals: | Money you earn, paying off debt, etc. |
| Non financial goals: | Giving back to the community, offer business services, etc. |
| Self-Assesment def: | An evaluation of your strengths and weaknesses. |
| Brainstorming: | A creative, problem-solving technique that involves generating a many fresh ideas. |
| Trade shows: | Special meetings at which companies of the same or related industry display their products. |
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