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What is a natural resource that cannot be replaced when used up
Non-renewable resource
trusting in one's abilities, qualities, and judgment.
Self-confident
relating to or involving the imagination or original ideas, especially in the production of artistic work.
Creative
a method of distributing products or services involving a franchisor
franchise
having an obligation to do something, or having control over or care for someone, as part of one's job or role.
Responsible
the amount of money needed to open the business
Start-up Financing
Organizational Summary
the loss of potential gain from other alternatives when one alternative is chosen
Opportunity-cost
the state of being scarce or in short supply
Scarcity
the relationship between two or more people to do trade or business.
Partnership
the money provided by large investors to finance new products and new businesses that have a good chance to be very profitable
Venture Capital
a policyholder’s request for payment for a loss that the insurance policy covers
Claim
a written description of the business idea and how it will be carried out, including all major business activities.
Business Plan
a risk that can lead to loss of personal or business property including money, vehicles, and buildings
Property Risk
a risk that can result in personal losses such as health and personal well-being
Personal Risk
usually, a group of people or a company, authorized by the state to act as a single entity
Corporation
a company's flotation on the stock exchange.
Initial public offering
the action or process of making decisions, especially important ones
Decision-making
a short document or section of a document produced for business purposes
Executive Statement
the amount the policyholder must pay for insurance coverage
Premium
reducing spending on an established product in order to maximize profits
Harvesting
a transaction where a company's management team purchases the assets and operations of the business they manage
management buyout
a style of responding to dilemmas or conflicts that are characterized by swift, decisive action to achieve mental and behavioral change
Action-oriented
a set of rules for guiding the actions of employees or members of an organization
Code of Ethics
the state or right of owning a business or holding property
Proprietorship