Business Chapter 6

Entrepreneurial team

A group of experienced people from different areas of business who joined together to form managerial team with the skills needed to develop, make, and market a new product.

Affiliate marketing

An online marketing strategy in which a business rewards individuals or other businesses (affiliates) for each visitor/costumer the affiliate sends to its website

Interpreters

Creative people who work as entrepreneurs with in corporations

Microprenuers

Entrepreneurs willing to except the risk of starting and managing the type of business that remains small, lets them do the kind of work they want to do, and offers them a balanced lifestyle

Venture capitalists

Individuals or companies that invest in new businesses in exchange for partial ownership of those businesses.

Market

People with unsatisfied wants and needs who have both the resources and the willingness to buy

Small Business Administration (SBA)

A U.S. government agency that advises and assists small businesses by providing management training and financial advice and loans

Small business

A business that is independently owned and operated, is not dominant in it field of operation, and meet certain standards of size (set by SBA) in terms of employees or annual receipts

Business plan

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 owners