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Management ch6
Chapter 6 terms
31
Management
Undergraduate 3
02/11/2016

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Term
Mom preneurs
Definition
pursue business opportunities spot as mothers
Term
entrepreneurship
Definition
is risk taking behaviors that result in new opportunities
Term
classic entrepreneur
Definition
is someone willing to pursue opportunities in situations others view as problems or threats
Term
serial entrepreneur
Definition
starts and runs businesses and nonprofits over and over again hoping for one interest an opportunity to the next,
Term
first mover advantage
Definition
comes from being first explored in it or enter a market,
Term
necessity based entrepreneurship,
Definition
takes place because other employment options don't exist
Term
social entrepreneurship
Definition
is a unique form of ethical entrepreneurship that seeks novel ways to solve pressing social problems, threats, is risk taking behaviors that result in new opportunities, pursue business opportunities spot as mothers
Term
social enterprise
Definition
Have a social mission to help make life better for underserved populations,
Term
small business
Definition
has fewer than 500 ployees is independently owned, operated, and does not dominate this tree
Term
franchise
Definition
is when one business owner cells to another the right to operate the same business in another location
Term
business model
Definition
is a plan for making a profit by generating revenue that are greater than cost
Term
startup
Definition
a new and Temporary venture that is trying to discover a proper business module for future success
Term
lean startup
Definition
use resources like open source software while containing cost staining small and keeping operations as simple as possible
Term
family business
Definition
is owned controlled by members of a family
Term
family business Feud
Definition
occurs in family members have major disagreement on how the business should be run,
Term
succession problem
Definition
, is the issue with who will run the business when the current head leaves,
Term
succession plan
Definition
describe how leadership transition and related financial matters will be handled
Term
business incubators
Definition
office space, shared services, and advice to help get small businesses started
Term
business plan
Definition
Describes the direction for new business and the financing needed to operate it
Term
sole proprietorship
Definition
an individual pursuing business for profit
Term
partnership
Definition
when two or more people agree to contribute resources to start and operate a business together
Term
corporation
Definition
a legal entity that exists separately from its owners
Term
benefit corporation
Definition
or B Corp, is a corporate form for business who stated goals are to combine making a profit with benefit society and the environment
Term
limited liability corporation
Definition
LLC is a hybrid business form combining the advantages of the sole proprietorship, partnership, and corporation
Term
Debt financing
Definition
Involves borrowing money that must be repaid over time with interest
Term
equity financing,
Definition
involves exchanging ownership shares for outside investment monies
Term
venture capitalists
Definition
make large investments in new ventures in return for equity in the business
Term
Intial public offering
Definition
for IPO is an initial selling of shares of stock to the public at large,
Term
angel investor
Definition
oh wealthy the individual willing to invest in a new venture in return for equity stake
Term
crowdfunding
Definition
Entrepreneurs starting new ventures go online to get start-up financing and crowds of investors,
Term
Small Business Development Centers
Definition
founded with support from US Small Business Administration provide advice to new and existing small businesses
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