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Understanding Business Ch. 6
RCC BUS 10. Nickels
17
Business
Undergraduate 1
01/15/2014

Additional Business Flashcards

 


 

Cards

Term
Define: Entrepreneural Teams
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
Define: 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 they want to do, and offers them a balanced lifestyle.

Term
Challenges to working at home
Definition

Getting Customers

Time Managment

Separate work and family

abiding by city ordinances

managing risk

Term
Define: Affiliate Marketing
Definition
Internet-based merketing strategy in which a business rewards individuals or other businesses for each visitor or customer that they send to its website
Term
Define: Intrapreneuers
Definition

creative people who work as entrepreneurs within corporations.

Term

IMMIGRATION ACT OF 1990

Definition

 

encourage more entrepreneurs to come to the United States

 

created a category of “INVESTOR VISAS” that allows 10,000 people to come to the U.S. each year if they invest $1 million in an enterprise that creates or preserves 10 jobs.

 

Term
Define: Enterprise Zones
Definition

specific geographic areas to which government try to attract private business investment by offering lower taxes and other government support.

Term
Define: Incubators
Definition
Centers that offer new businesses low-cost offices with basic business services
Term
Define: Small Business
Definition

Is independently owned and operated

 

  Is not dominant in its field of operation

 

Meets certain standards in terms of employees or annual receipts (for example, less than $2 million a year for service companies).

Term
5 major functions of a small business
Definition

a. PLANNING your business

b.   FINANCING your business

c.   KNOWING your customers (marketing.)

d.   MANAGING your employees (human resource development.)

e.   KEEPING RECORDS (accounting).

Term
Define: Business Plan
Definition

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 owner(s).

Term
Define: Angel Investors
Definition

private individuals who invest their own money in new business with potential.

Term

Small Business Administration

Definition

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

Term

What is the

MICROLOAN PROGRAM

Definition

awards loans on the basis of belief in the borrowers’ integrity and the soundness of their business idea

Term

Define:

Small Business Investment company program

Definition

a program through which private investment companies licensed by the Small Business Administration lend money to small businesses.

Term
Define: Venture Capitalists
Definition

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

Term
SERVICE CORPS OF RETIRED EXECUTIVES (SCORE)
Definition

 

 

an SBA office with volunteers from industry, trade associations, and education who counsel small businesses at no cost (except for expenses.)

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