Introduction to Entrepreneurship
what is a person who starts their own buisness
Entrepreneur
calculate profit
What kind of Risk would it be to go bankrupt?
Financial Risk
what is marketing
marketing is the process of promoting products or services to customers
what is a social entrepreneur
a person who establishes an enterprise with the aim of solving social problems or effecting social change
what are some skills needed to become a entrepreneur
Determination, leadership, communication, problem solving, Etc.
what do you call money you take from the bank and have to repay
Loan
What kind of reward is it to chose when you want to work?
Freedom or Flexibility
what are the 4 p's of marketing
Place, Product, Promotion, Price
What is social entrepreneurship
creating innovative solutions to social and environmental problems, often through a business model
what is needed to begin a business
land, labor, capital
what is it called when a firm's cost equals its sales
Breakeven
What kind of reward is it to gain the trust of your employees and them to follow your?
leadership
what is market research
researching the target audience, their needs, and preferences
A potential impacts of social entrepreneurship
adressing poverty, inequality, and environmental issues
what are three things that you need to make your business original.
Logo, slogan, name
what is an investment in the business by the owners
equity
What kind of Risk is it to lose/not gain customers?
Market Risk
The two types of marketing
Traditional and digital
Name a type of social entrepreneur
community, non-profit, transformational, global
What is a good and a service
A good is a product that can be held
A service is an action that helps somebody
a financial document used to predict future income and expenses
Budget
you start a local coffee shop in the busiest part of town. You have a steady flow of customers but there is lots of competition.
Name a risk and reward.
Competitive Risk and Financial Rewards
Your primary group of customers to whom you direct you marketing efforts
Target Market
What happens to the profits of a social enterprise
They are reinvested to the mission or cause