Shared Flashcard Set

Details

Business
N/A
10
Business
Undergraduate 1
09/28/2009

Additional Business Flashcards

 


 

Cards

Term
entrepreneurship
Definition
Accepting the risk of staring and running a business.
Term
entrepreneurial team
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.
Term
micropreneurs
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 the want to do, and offers them a balanced lifestyle.
Term
Revenue
Definition
Money coming in during a certain period by selling items or services
Term
Profit
Definition
Money earned after paying salaries and expenses
Term
Standard of Living
Definition
Having money to spend
Term
Quality of Life
Definition
Joy of life from surrounding businesses that are successful and keeps people employed communities intact by people able to spend. Quality of life is general well being os society in terms of:
political freedom
clean natural environment
education
health care
safety
free time
everything else that leads to satisfaction & joy
Term
Risk
Definition
the time and money invested into new business or product that may not be profitable, have to take a risk to make a profit
Term
stakeholders
Definition
people that are tied to new business such as bank, shareholders, employees, vendors, etc.
Term
outsourcing
Definition
the business seeking help in other countries for services
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