Entrepreneurs
A person who starts a new business or purchases an existing business.
What is an entrepreneur?
A written statement of goals and objectives for a business.
What is a business plan?
Borrowing money that must be repaid.
What is debt financing?
The way a business is organized.
What is organizational structure?
The ability to influence others to reach a goal.
What is leadership?
A characteristic that makes a person unique.
What is a trait?
The process of gathering and analyzing information about a market.
What is market research?
An asset pledged if a loan is not repaid.
What is collateral?
The line of authority from highest to lowest.
What is chain of command?
Managers who believe employees need close supervision follow this theory.
What is Theory X?
Someone with experience who provides advice and guidance.
What is a mentor?
All people and organizations that might purchase a product.
What is a market?
Property or items of value a business owns.
What are assets?
The process of controlling and making decisions about a business.
What is management?
Organizing time and work tasks efficiently.
What is time management?
The process of setting goals and deciding how to accomplish them.
What is planning?
The movement of money into and out of a business.
What is cash flow?
Money invested in exchange for ownership.
What is equity financing?
The process of recruiting, hiring, training, and evaluating employees.
What is staffing?
A system used to organize and manage information.
What is Personal Information Management (PIM)?
Name three ways an entrepreneur can start a business.
Start a new business, purchase an existing business, or buy a franchise.
Money necessary to start and open a business.
What is start-up capital?
Private investors who fund start-up businesses.
Who are angel investors?
Which management level directly supervises employees?
What is first-line management?
Name the five parts of a SMART Goal.
Specific, Measurable, Attainable, Realistic, Timely.