Growth Strategies
When one business buys out the owners of another business, which then becomes part of the ‘predator’
Acquisition/Takeover
A person who organises, operates and takes the risk for a new business venture
Entrepreneur
He names his beloved dog "Beast"
Mark Zuckerberg
Long hours and short holidays
Hardworking
When one business merges with or takes over another one in the same industry at the same stage of production
Horizontal integration
The total value of capital used in the business
Capital employed
He began pursuing his dream only after reaching age 65 and his recipe was rejected over 1,000 times before a restaurant finally added it to the menu.
Harland "Colonel" Sanders
Looking forward to a better future
Optimistic
When the owners of two businesses agree to join their businesses together to make one business
Merger
Document containing the business objectives and important details about the operations, finance and owners of the new business
Business plan
He applied for an engineer position at Toyota Motor Corporation and stayed unemployed for a long time before starting his own business.
Soichiro Honda
Able to put new ideas into practice in interesting and different ways
Innovative
When one business merges with or takes over another one in the same industry but at a different stage of production
Vertical integration
When a business integrates with another business at an earlier stage of production
Backward integration
If he drops a thousand dollar bill, it's not worth it for him to pick it up. He's already made that much in the four seconds it takes to bend over. (2016)
Bill Gates
Well-motivated and able to work on their own before they can afford to employ others
Independent
When one business merges with or takes over a business in a completely different industry
Conglomerate integration
When a business integrates with another business which is closer to the consumer
Forward integration
He left school at the age of 16 to start his first business, "Student" magazine.
Richard Branson
Making decisions to produce goods or services that people might buy even though potentially risky
Risk taker