Entrepreneurship
What is the process of creating and running a business?
Entrepreneurship
What characteristic means coming up with new and original ideas?
Creativity
What is creating something new or improving something that already exists?
Innovation
What is the possibility of losing money, time, or resources when making a business decision?
Risk
What are the principles that help people decide what is right and wrong?
Ethics
What is an employee who thinks like an entrepreneur inside an existing company called?
Intrapreneur
What is the process of businesses, people, products, and ideas becoming connected around the world?
Globalization
What do we call a person who starts and operates a business?
Entrepreneur
What characteristic means being willing to try new ideas?
Innovative
What is one reason businesses create new products?
To solve a problem.
What is a decision to take a risk after considering the possible benefits, problems, and chances of success?
Calculated risk
Who can business ethics affect?
Customers, employees, competitors, and the community.
Does an intrapreneur have to own the business they work for?
No.
What happens when businesses become connected across countries?
They become part of a global marketplace.
What is the money left after a business pays its expenses?
Profit
What characteristic means continuing to work even when things get difficult?
Perseverance
If a company improves an existing product, what concept does this demonstrate?
Innovation
Name one question an entrepreneur should ask when considering a calculated risk.
What could I gain?
What should an entrepreneur think about when making an ethical business decision?
The consequences of the decision.
What can an intrapreneur create to help an existing company?
New ideas, products, services, or solutions.
What is one way a U.S. business could expand globally?
Sell its product in another country.
Idea Generation, Opportunity Evaluation, Business Planning, and Implementation.
An opportunity
What characteristic means believing in your ability to succeed?
Self-confidence
What is one thing entrepreneurs should think about when creating a new product?
What problem the product solves.
: What should an entrepreneur consider before taking a calculated risk?
The possible benefits, possible problems, and chances of success.
What can ethical decisions help build with customers and employees?
Trust
What is the main difference between an entrepreneur and an intrapreneur?
An entrepreneur creates opportunities for their own business, while an intrapreneur creates opportunities within someone else's business.
When a business expands into another country, what should it consider about that country?
Its customers and culture.
What are the four stages of entrepreneurship?
Idea Generation, Opportunity Evaluation, Business Planning, and Implementation.
What characteristic allows an entrepreneur to make decisions and take action on their own?
Independence
According to the lesson, what does innovation combined with risk require an entrepreneur to do?
Make a decision about whether the risk is worth taking.
An entrepreneur has $1,000 and decides to spend $200 testing a product before spending the rest. What type of risk is this?
Calculated risk
What can a good reputation help a business do in the long term?
Succeed
How can an intrapreneur's ideas help a company?
hey can help the company make money, save money, or work better.
What does a business need to do when taking a successful U.S. business into another country?
Adapt its business to the new market.