Entreprenuers and Roles
Someone who starts and runs their own business, taking on most of the risk
Who is an Entrepreneur?
A business owned by one person.
What is a Sole Proprietorship?
The right to operate a business using another company's brand and products.
What is a Franchise?
The process of making something new or improving an existing idea.
What is innovation?
The possibility of losing money or failing in a business venture.
What is Business Risk?
An employee who acts like an entreprenuer within a company
Who is an Intraprenuer?
A business owned by two or more people who share responsibility.
What is a Partnership?
A franchise that provides a complete business model, training, and ongoing support.
What is a Business-Format Franchise?
The act of making a business larger by increasing produts, locations, or markets.
What is Expansion?
Creating new products or services to gain a competitive edge.
What is Innovation?
What is Etiquette?
A type of business that offers limited personal liability and flexible taxation.
What is a Limited-Liability Company?
A franchise that only allows use of a brand name without a full business model.
What is a Trade-Name Franchise?
Joining with another company to become more competitive.
What is a Merger?
An employee using company resources to develop new ideas internally.
What is an Intrapreneur?
Doing business in a way that is morally right and fair.
What are Ethics?
When two companies join together to form one.
What is a Merger?
An example of a company like McDonald's that sells business rights to others.
What is a Franchise?
Combining companies into one larger business entity.
What is Consolidation?
Making choices that balance risk, ethics, and opportunity.
What is Strategic Decision Making?
A company that legally exists apart from its owners.
What is a Corporation?
The act of combining mulitiple comapnies into a larger one.
What is Consolidation?
The main advantage for a franchise in a business-format model.
What is built-in brand recogniiton and support?
The spread of products, services, and business operations across the globe.
What is Globalization?
How a business can prepare for and reduce potential risks.
What is Risk Management?