Shared Flashcard Set

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Small Business
Vocabulary 2.0
13
Business
12th Grade
04/29/2011

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Cards

Term
Business ethics
Definition
Applying principles of right and wrong to situations in the workplace.
Term
Business plan
Definition
A proposal that describes a new business.
Term
Code of ethics
Definition
A systematic set of rules and procedures used to guide the behavior of an individual, a business, or a culture.
Term
Entrepreneur
Definition
An individual who undertakes the risk associated with creating, organizing, and owning a business.
Term
Entrepreneurship
Definition
The process of starting and operating one’s own business.
Term
Ethical behavior
Definition
Knowing the difference between right and wrong and consciously choosing to do what is right.
Term
Ethics
Definition
Guidelines for human behavior; the study of moral choices and values; choosing between right and wrong.
Term
Executive summary
Definition
A brief description of the key points of the business plan.
Term
Manager
Definition
An employee who coordinates people, processes, and other resources of a business in order for the business to achieve success and make a profit.
Term
Mission statement
Definition
A written description of the purpose of a company and the management’s philosophy.
Term
Opportunity
Definition
An idea that has commercial value.
Term
Small business
Definition
Sometimes referred to as “mom and pop” businesses. Small businesses are generally started to create jobs for the owners.
Term
Venture
Definition
A business undertaking involving risk.
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