Intro to Business
Challenges
Key elements
Why it is important/purpose
Different business ownership
100

Financial gain that a business earns after subtracting all its expenses 

What is profit

100

Uncertain of income and cash flow

What is financial risk

100

The core/thought thought of the business  

What is the idea

100

Contributes to the economy by producing good services

What is economic growth

100

People who invest time and money into running a business

What is Business owner/s

200

A process of trading goods, services, or value between two or more parties.-often involves the transfer of money in return for product or service

What is exchange

200

Standing out in a crowded market 

What is Competition

200

A roadmap for success

What is business plan 
200
Provides the opportunity to pursue passions and goals 

What is personal fulfillment 

200

Owned by one person,easy to set up and operate, and owner has full control

What is sole proprietorship

300

The process by which business enhance the worth of a product or service, typically to meet customer needs

What is value creation
300

Limited access to capital,tools, and team members

What is lack of resources 

300

Securing capital for operations 

What is funding 

300

Entrepreneurs open opportunities/positions for other people

What is job creations 

300

Owned by 2 or more people and partners share profit,risks, and responsibilities 

What is partnership

400

The act of creating, developing, and running a new business venture, typically with the goal of solving a problem of fulfilling a market need

What is Entrepreneurship

400

Balancing various tasks and responsibilities 

What is time management 

400

Delivering the product/service effectively 

What is Execution

400

Focused on social cause or service to benefit society

What is non-fro profit

400

A type of business where an individual buys the rights to operate a business using the branding and model of an established company

What is Franchise 

500

Identifying the target customers

What is Market demand

500

Navigating the possibilities of failure and learning from mistakes

What is failure

500

Flexibility to adjust to market changes 

What is adaption 

500

Aims to make profit for shareholders or owners

What is for profit

500

Separate legal entity from its owners. Can be owned by many shareholders 

What is corporations

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