A
Someone who starts their own business
Entrepreneur
Two reasons someone may start their own business venture
Various responses see Intro to Entrepreneurship Note Slide 3
Name a famous Canadian Entrepreneur
Various...should at least be able to name who you did you PPT on....
Name a famous Global Entrepreneur and what business they started
Various....
Protects an invention for 20 years
Patent
People who have the characteristics and skills of an entrepreneur but use them to work for someone else or to run a non profit organization are referred to as
Enterprising People
or
Intrapreneurs
A entirely new creation
Invention
Identify 2 skills most entrepreneurs would have
Various ....see Intro to Entrepreneurship Note Slides 7 to 9 for examples
Characteristics are about your personality/ habits while skills are tasks you can perform
Protects your businesses branding (name, logo, colours) etc.
Trademark
Give me 2 reasons (not all ready given during this game) why someone may start their own business.
Various responses see Intro to Entrepreneurship Note Slide 3
2 ways society benefits from Entrepreneurship
Job Creation
New Products/Services to try
Taxes paid to the Gov't
etc.
State 2 characteristics (not already given during this game) that most entrepreneurs would possess.
Various ....see Intro to Entrepreneurship Note Slides 7 to 9 for examples
Protects a work of art, video, song etc.
Copyright
If a product has a distinct shape or form it can be protected by the
Industrial Design Act
You invent and entire business model (fast food, tutoring service etc) and allow other people to buy the rights to run a location following your rules
Franchise Agreement
You need to check with the municipality to see if your land/building or ____ properly for your business activity
zoned
A rule that or law that a municipality can make and enforce that citizens/businesses must follow
Bylaw
If you allow your invention to be made by someone else and they pay you a fee while you retain ownership you have entered into a
Licensing Agreement
All new business ideas should be investigated to see if they are able to meet these 3 _____ble's
Feasible
Profitable
Marketable
Entrepreneurs need to ensure that they have enough money to start the business but also need enough ____________ to keep the business running month to month.
cashflow
Identify 3 ways you can innovate a product to increase sales without actually changing the core product itself
Changing How a Product is Used
Changing the Package
Changing the Marketing
Changing the Distribution
Changing the Design
Changing the Manufacturing Process
A ___________ is a preapproved loan an entrepreneur can access at anytime to borrow money when needed while ____________ allows the bank account to go negative if they overspend.
1. line of credit
2. overdraft protection
When starting a business you need to check with the government to see if your type of business requires any ....
licenses or permits
If you need more money to grown your business and you give up part of your business to a partner or sell shares rather than getting a loan you are using _____ financing.
Equity