Term
|
Definition
| the process of planning, organizing, operating, and assuming the risk of a business venture |
|
|
Term
|
Definition
| someone who engages in entrepreneurship |
|
|
Term
|
Definition
| a business that is privately owned by one individual or a small group of individuals and has sales and assets that are not large enough to influence its environment |
|
|
Term
|
Definition
| a market in which several large firms compete according to relatively well defined criteria |
|
|
Term
|
Definition
| a segment of a market not currently being exploited |
|
|
Term
|
Definition
| any advantage that comes to a firm because it exploits an opportunity before any other firm does |
|
|
Term
|
Definition
| a document that summarizes the business strategy and structure |
|
|
Term
|
Definition
| a group of small investors seeking to make profits on companies that have the potential for rapid growth |
|
|
Term
|
Definition
| a contract between an entrepreneur (the franchisee) and a parent company (the franchiser); the entrepreneur pays the parent company for the use of its trademarks, products, formulas, and business plans. |
|
|
