Vocab
This word is used for something a business does for you
Services
Meaning to make money
Profit
Name for a business that meets a 'social need'
Social enterprise
A word for finding new things, or inventions
Innovation
The name for an idea for a business
Business Concept
Something a customer requires
Needs
To help others/groups or people
Social Need
A skill business owners need to work with and talk to others effectivly
Communication
Investigating or researching new things or opportunities
Research and Development
Something a business must pay to the government
Taxation
Something that is 'missing' in a market a business can take advantage of
Gap in the market
To become your own 'boss'
Independence
A term used for people to inspire and encourage others to follow
Leadership
Finding and using new technology to help business
Technological Development
Businesses contribute to this by having staff
Employment
A goal-setting phrase for businesses
S.M.A.R.T
To find a job
Employment
A word for a small, specific element of a market that is specialised
Market Niche
Something that is popular at a given time
Trends
A skill relating to money management for a business owner
Financial Skills
A financial term meaning something can be done
Feasibility
A person who takes advantage of innovation, and gaps in the market
Entrepreneurship
The population in a particular age,type , or target market
Demographic
Taking advantage of markets in other countries around the world
Global Markets
Two written statements a business does/aims to do
Vision and Mission statements