BUSINESSFUN 6,

what are are centers that offer new businesses in the critical stage of early development low-cost offices with basic services such as accounting, legal advice, and secretarial help?

Business incubators

All consumers with unsatisfied wants and needs who have both resources and the willingness to buy are:

A MARKET

What is the best definition of entrepreneurship?

Accepting the risk of starting and running a business

2 functions that are primary concerns of business startup

PLANNING N FINANCING

True or false: Most entrepreneurs do not get their ideas from a flash of inspiration; they come more from their passions or looking at problems.

TRUE

True or false: The principles of management are similar for a small neighborhood business and a giant global firm.

TRUE

CH 6 ^^^^^ DONE

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Venture Capatilists

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

Intrapeneur

entrepreneurs who work withing a corp. a manager within a company who promotes innovative product development and marketing.

An entrepeneurial team is:

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.

Business Plan

is a detailed written statement that describes the nature of the business, the target market, the advantages the business will have over competition, and the resources and qualifications of the owner

Executive Summary is a part of a business plan

is a detailed written statement that describes the nature of the business, the target market, the advantages the business will have over competition, and the resources and qualifications of the owner

Business Plan

nature of the business, the target market, the advantages the business will have over competition, and the resources and qualifications of the owner

Small Business

one that is independently owned and operated, is not dominant in its field of operation, and meets certain standards of size in terms of employees or annual receipts.

Micropeneur

one that operates on a very small scale, or one with no more than five employee DESIRE TO STAY SMALL... Balance lifestyle with work

apprenticeship

type of business relationship benefits both a trainee and a business owner and occurs when a trainee is hired to learn small-business management while assisting the owner in getting daily work done