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25 Cards in this Set
- Front
- Back
entrepreneur
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Is a person who sets out to build a successful business in a new field, who takes calculated risks in search of a profit. |
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Self-management |
Is when an entrepreneur is their own boss. |
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Job Security |
Is when you know the job you have now will, continue to be your job in the future. |
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Financial Success |
Is when your business runs at profit year after year. |
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profit
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Is the surplus remaining after total costs (expenses) are deducted from total revenue. (income) |
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globalisation |
Is the term describing a broad outlook of an interconnected and independent world with free transfer of capital, goods, and services between countries. |
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vision |
Is the overall idea for how to make a business idea s success. |
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High Energy Level |
Is a personality characteristic that shows a willingness. |
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Need to Achieve |
Is a personality characteristic that is a driving factor for entrepreneurs that work hard because they want to excel. |
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Self-Confidence |
Is a personality character that shows fearlessness in the face of difficult odds. |
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Tolerance for Failure |
Is a personality characteristic that shows entrepreneurs are not easily discouraged by set backs. |
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Creativity |
Is a personality characteristic of entrepreneur that help them devise innovative ways to overcome difficult problems and situations. |
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Unique Selling Point |
Is determining how a business is to differentiate itself from the competition. |
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advertisement |
Is a paid, non-personal, public communication about a business, through means such as direct mail, print, radio, television, and the internet. |
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market
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Is all the people interested in a certain product. |
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market share |
Is the percentage of the market that one particular business has. |
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Customer satisfaction |
Is a measure of how satisfied customers are when they consume a product or use a business’s service. |
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Staff morale |
Is a measure of how happy the workers are. |
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Sales targets |
Is a specific amount of a certain number |
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Entrepreneurial capability |
Are the set of characteristics that make people successful entrepreneurs. |
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Trends in data |
Is the patern observation in the business’s data, such as increasing, decreasing, stagnating or yo-yoing |
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Initiative |
Is a personality characteristic of entrepreneurs that shows how they lead their business to success through action. |
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Analyse |
Is the ability to read data to identify trends and use the information to make predictions about the future. |
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research |
Is the ability to gather data and information that is crucial to develop business ideas. |
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communication |
Is the ability to share ideas, write proposals, monitor staff and monitor the success of business decisions |