Entrepreneurship
What is the definition of an entrepreneur?
An entrepreneur is a person with an Idea for a product or service. They decide to start a business, which brings this idea to life
What is one common reason why startups fail?
Lacking funding/financial reserves
What is a business plan?
A business plan is a written document that outlines a company's goals and explains how it will achieve them. It usually includes details about the product or service, target market, marketing strategies, finances, and how the business will be managed. A business plan helps entrepreneurs stay organized and is often used to attract investors or secure loans.
Who wrote the play "Romeo and Juliet"?
William Shakespeare
Identify two traits that can help an entrepreneur succeed in a competitive market.
MULTIPLE UP TO THE TEACHER TO DETERMINE IF ITS RIGHT
How can a lack of market research impact a new business?
Market Research looks how successful a product or service will be.
Why is it important to have a financial analysis in a business plan?
It is important to have a financial analysis in a business plan because it shows how the business will make money and manage expenses.
What is the capital of Japan?
Tokyo
Describe one type of entrepreneurship.
Social: Not for profit
Scalable Business: Grows Rapidly
Intraprenship: creating a product or service for a company
Small Business:Indpendently owned and operated company that is limited in size and revenue
What are skills needed for a Chief Financial Officer?
Budgeting and Accounting
What does a marketing and sales plan include?
A marketing and sales plan is a strategy that helps a business reach and sell to its target customers.
Which artist is famous for painting the "Mona Lisa"?
Leonardo da Vinci
How does social entrepreneurship differ from traditional entrepreneurship?
Social is for the good of people, environment or to solve a social issue. Not to make a profit.
The term ethics can also refer to rules or guidelines that establish what conduct is right and wrong for individuals and groups.
Describe the purpose of the executive summary in a business plan.
The executive summary in a business plan provides a brief overview of the entire plan, highlighting the most important points.
What year did World War II end?
1945
Describe the Manage it stage of the Entrepreneural Process
The "Manage It" stage of the entrepreneurial process is when the business owner runs the day-to-day operations to keep things running smoothly. This includes managing money, helping customers, solving problems, and planning for future growth. It's all about making smart decisions to keep the business successful.
Explain how Costco’s code of ethics might impact their business practices.
Their code emphasizes honesty and respect, they may focus on fair pricing, quality products, and good working conditions. This helps build trust, strengthens their reputation, and can lead to long-term success.
What are the potential consequences of launching a business without a business plan?
.
Launching a business without a business plan can lead to several potential consequences, such as lack of direction, difficulty securing funding, and poor decision-making.
Who is Richard Montañez, and what does his story illustrate about intrapreneurship?
He was a Janitor who create Flamin Hot Cheetos