Term
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Definition
| Accepting the challenge of starting and running a business. |
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Term
| An entrepreneurial team is... |
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Definition
| A group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop, make, and market a new product. |
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Term
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Definition
| Entrepreneurs willing to accept the risk of starting and managing the type of business that remains small, lets them do the kind of work they want, and offers them a balanced lifestyle. |
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Term
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Definition
| Creative people who work as entrepreneurs within corporations. |
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Term
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Definition
| Centres that provide hands-on management assistance, education, information, technical and vital business support services, networking resources, financial advice, as well as advice on where to go to seek financial assistance. |
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Term
| A business establishment... |
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Definition
| Has at least one paid employee, annual sales revenue of $30,000, or is incorporated and has filed a federal corporate income tax return at least once in the previous three years. |
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Term
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Definition
| Meets one of the business establishment criteria and usually maintains a payroll of at least one person, possible the owner. |
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Term
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Definition
| A business that is independently owned and operated, is not dominant in its field, and meets certain standards of size in terms of employees or annual revenues. |
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Term
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Definition
| A detailed written statement that describes the nature of the business, the target market, the advantages the business will have in relation to competition, and the resources and qualifications of the owner(s). |
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Term
| Venture capitalists are... |
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Definition
| Individuals or companies that invest in new businesses in exchange for partial ownership of those businesses. |
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Term
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Definition
| Private individuals who invest their own money in potentially hot new companies before they go public. |
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Term
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Definition
| People with unsatisfied wants and needs who have both the resources and willingness to buy. |
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Term
1) Profit
2) Independence
3) Opportunity
4) Challenge |
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Definition
| A few reasons that people might choose to start their own businesses are... |
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Term
1) Self-directed
2) Determined
3) Action-oriented
4) Highly energetic
5) Tolerant of uncertainty
6) Able to learn quickly |
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Definition
| Attributes of successful entrepreneurs include... |
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Term
| Offer low-cost office space and basic business services. |
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Definition
| Business incubators are facilities intended to... |
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Term
| Willingness and desire to follow others. |
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Definition
| All of the following are characteristics of successful entrepreneurs, EXCEPT... |
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Term
| Their employer's existing human, financial, and physical resources |
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Definition
| To develop and launch new products and generate new profits, intrapreneurs make use of... |
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Term
| That the goal is to capture the attention of bankers and investors. |
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Definition
| When preparing the executive summary of a business plan, it is important to remember... |
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Term
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Definition
| What form of business ownership has an indefinite life? |
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Term
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Definition
| Kayla recently quit a job with a large corporation to start her own business. While she realizes that her decision comes with risk, she is excited by the chance to be independent and the challenges of running her own firm. Kayla is an example of a(n)... |
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Term
| Convincing foreign firms to do business with a small firm, rather than a large corporation. |
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Definition
| Anthony, a small business owner, is considering marketing his product in Brazil. If he enters the Brazilian market, he is likely to face all of the following problems, EXCEPT... |
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Term
| Get more respect from their bosses. |
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Definition
| Employees of small businesses often have greater job satisfaction than do employees of larger firms. One reason for this difference in job satisfaction is that employees of small businesses often... |
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Term
| Business plans should list key advisors, including accountants and lawyers. |
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Definition
| What statement about business plans is the most accurate? |
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Term
| Invests her own money in new businesses before they sell stock publicly. |
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Definition
| Chris is an angel investor. This indicates that she... |
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Term
| Have the highest failure rates. |
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Definition
| When comparing various types of small businesses, the firms that are easiest to start tend to be those that... |
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Term
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Definition
| The largest source of capital for entrepreneurs is usually from... |
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Term
| Forces him to think carefully about all aspects of his business. |
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Definition
| Lamont wants to improve his chances to be a successful entrepreneur, so he has written a business plan. One advantage of developing this plan is that it... |
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Term
| Many people become entrepreneurs because they do not enjoy working for someone else. |
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Definition
| An examination of the reasons given by people willing to accept the risks of entrepreneurship indicates that... |
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Term
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Definition
| Sally Wright has just taken early retirement, including a substantial retirement allowance. She wishes to continue working and wants to invest her retirement allowance in her own small business, and feels comfortable doing so with an established product and process. She worked for the same employer in the same job all of her working career and therefore has no experience in running her own business. In starting her own business she would be well-advised to... |
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