Management 100 - Chapter 7 - Entrepreneurship

Angel Investors

Private individuals who invest their own money in potentially hot new companies before they go public

Intrapreneurs

Creative people who work as entrepreneurs within corporations

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

Small Business

A business that is independently owned and operated, is not dominated in its field, and meets certain standards of size in terms of employees or annual revenues

Entrepreneurial Team

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

Micro-Enterprises

A small business defined as having fewer than five employees

Entrepreneurship

Accepting the challenge of starting an running a business

Affiliate Marketing

An internet-based marketing strategy where a business rewards individuals or other businesses for each visitor or customer the affiliate sends to its Web site

Incubators

Centers 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

Venture Capitalists

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

Business Establishment

It must have at least one paid employee, annual sales revenue of $30,000, or it must be incorporated and have filed a federal corporate income tax return

Employer Business

Meets one of the business establishment criteria and usually maintains a payroll of at least one person

Small and Medium Sized Enterprises

Refers to all businesses with fewer than 500 employees

Micropreneurs

Small-business owners with fewer than five employees who are willing to accept the risk of starting and managing the type of business that remains small, lets them do the ind of work they want to do, and offers them a balanced lifestyle