An individual who undertakes the creation, organization, and ownership of a business
What is an entrepreneur
100
These are 2 characteristics of a successful entrepreneur.
What is Persistent, Creative, Responsible, Inquisitive, Goal-oriented, Independent, Self-demanding, Self-confident, Risk-taking, Restless, Action-oriented, Enthusiastic
100
These are 3 of the 8 business trends that we discussed.
What is Internet, Service, Home-based, Focus on Technology, Social Entrepreneurship, Outsourcing, Corporate Venture, Strategic Alliance
100
The selling and shipping of goods to another country
*Daily Double
What is Exporting
100
Money left over after all expenses of running the business are paid.
What is profit
200
Prices are determined by this theory
What is the theory of supply and demand
200
These are 2 entrepreneurial skills that successful entrepreneurs have.
What is Communication, Math, Problem-solving, Technology/computer, Decision-making, Organizing/planning, Teamwork, Social, Adaptability, Basic business
200
This is the difference between an idea and an opportunity.
*Daily Double
What is You generate ideas by thinking creatively. Opportunities are ideas that have commercial value (actually stand a chance of making money)
200
This is why a business may go global.
What is Small businesses today may purchase & sell goods/services to other countries, manufacture in other countries, or have competitors in other countries.
200
Contracting with other companies for services
What is outsourcing
300
Small businesses don’t always compete on price. What do they compete on?
What is quality; service; unique features; niche markets
300
These are 3 risks and 3 rewards of being an entrepreneur.
What is Working long hours, Having an uncertain income, Being fully responsible for everything, Risking your investment
Being your own boss, Doing something you enjoy, Having the opportunity to be creative, Having the freedom to set your own schedule, Having job security, Making more money, Being recognized in the community
300
A business broker
What is someone whose job is to bring buyers & sellers together
300
This is why it is important to understand cultural differences before bringing your business outside of the country.
What is Not all cultures are like ours. You want to be careful not to offend people, causing a bad image for your company. You also don’t want to make mistakes that could cost you a lot of money (offensive packaging that you need to fix)
300
A type of trade barrier, this is a tax imposed by a government on imported or exported goods
What is a tariff
400
What is the difference between a business failure and a business discontinuance?
What is a business failure stops operations & takes a loss, while a discontinuance takes no loss and may or may not open under a new name
400
The amount of money a person puts into his or her business as capital
What is investment
400
A legal agreement to begin a new business in the name of a recognized company
What is a franchise
400
These are 3 things you can do when visiting another country to show respect.
What is Dress conservatively
Do not correct other person’s English
Be prepared to remove your shoes if necessary
Only praise food – respect different tastes
Before meeting, know something about the country and its culture
Be on time!
Use formal greetings
Bring your own interpreter
400
A new business undertaking that involves risk?
What is a venture
500
These are the 5 components of the entrepreneurial start-up process.
What is Entrepreneur; Environment; Opportunity; Start-Up Resources; New Venture Organization
500
A set of characteristics or qualities that identifies a type or category of person
What is a profile
500
These are 2 things you should do before buying an existing business.
What is Investigate the company & the industry carefully. . . Talk to customers, employees, suppliers
Hire an accountant to verify the value of the inventory, assets, etc.
Hire an attorney to advise you and to investigate any legal liabilities that exist
Make sure the business truly interests you
Ask why the owner is selling!
500
The 2 factors that have contributed to a global economy
What is trade barriers have fallen and technology has made the world smaller
500
These are the 4 factors of production
*Daily Double